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1-5. Consider the following data for Queen Corporation at the end of 1999.
Cash P 35,000 CGS P 1,600,000
A/R 91,000 NIAT 166,400
Prepaid Rent 4,000 Inventory Turnover = 5 times
Land 90,000 Collection period = 25 days
A/P 105,000 360 days in a year, all sales on credit
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Compute for the quick ratio of the company
1.24 to 1
None of the choices
1.2 to 1
0.33 to 1
1.1 to 1
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How much are the credit sales for the year?
1,328,000
1,766,400
91,000
None of the choices
1,310,400
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How much inventory is left at the end of 1999?
365,000
8,000,000
360,000
None of the choices
320,000
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What is the net profit margin percentage?
None of the choices
12.59%
10%
12.7%
11.57%
What is the asset turnover rate?
2 times
None of the choices
2.43 times
2.5 times
2.1 times
Answer & Explanation
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