need 7 and 8 7. A company had sales of $730,000, cost...
80.2K
Verified Solution
Link Copied!
Question
Accounting
need 7 and 8
7. A company had sales of $730,000, cost of goods sold of $400,000, selling and administrative expense of $65,000, and operating profit of $110,000 ? What was the value of depreciation expense? What adjustments would you make in the statement of cash flows regarding depreciation and is it from operating, investing, or financing activities? 8. A company makes clothing and has sales of $3,700,000. Cash is $155,000, accounts receivable is $840,000, inventory is $385,000, and net plant and equipment is $490,000. Compute total assets and then determine accounts receivable turnover, inventory turnover, fixed asset turnover, and total asset turnover
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
