เฉลยแบบฝึกหัดทบทวนก่อนสอบ Final

แบบฝกึ หดั ทบทวน ส่วนที่ 1 มจี ำนวน 20 ขอ้ 10 คะแนน ให้ทำเคร่ืองหมำยกำกบำท (X) เพ่ือเลอื กคำตอบท่ีถกู ทส่ี ุด 1. Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? A. 24.89 days B. 39.80 days C. 51.92 days D. 62.56 days E. 83.77 days 2. Harry Joiner, Inc. currently has an inventory turnover of 15.7, a payables turnover of 9.6, and a receivables turnover of 8.1. How many days are in the cash cycle? A. 30.29 days B. 32.70 days C. 56.51 days D. 84.39 days E. 104.72 days 3. The local video store has to restock a popular video game every five days as it completely sells out in that period of time. What is the inventory turnover rate for this game? A. 5.00 times B. 5.25 times C. 57.14 times D. 60.00 times E. 73.00 times 4. The Fried Green Tomatoes Restaurant increased its operating cycle from 140 days to 148 days while the cash cycle decreased by 3 days. How have these changes affected the accounts payable period? A. Decreased by 11 days B. Decreased by 5 days C. Decreased by 1 day D. Increased by 5 day E. Increased by 11 days 1

5. Joseph Schmidt and Co. has the following estimated sales. Purchases are equal to 64 percent of the following quarter's sales. What is the cash outlay for accounts payable for quarter 3 if the firm has a 30-day accounts payable period? Assume each month has 30 days. A. $9,938 B. $10,539 C. $3,488 D. $6,977 E. $7,503 6. The Green Mile has the following estimated quarterly sales for next year. The accounts receivable period is 45 days. What is the expected accounts receivable balance at the end of the third quarter? Assume each month has 30 days. A. $4,300 B. $4,750 C. $5,600 D. $6,667 E. $8,600 7. University Furniture sells 2,500 sofas a year at an average price per sofa of $1,250. The carrying cost per unit is $11.60. The company orders 80 sofas at a time and has a fixed order cost of $55 per order. The sofas are sold out before they are restocked. What is the economic order quantity? A. 154 sofas B. 172 sofas C. 181 sofas D. 198 sofas E. 211 sofas 2

8. On June 22, Roy's Welding Shop purchased $3,300 worth of goods. The terms of the sale were 1/7, net 21. What is the effective annual rate of interest for the credit period for this sale? A. 29.96 percent B. 31.38 percent C. 34.42 percent D. 37.73 percent E. 38.63 percent 9. You place an order for 680 units of widgets at a unit price of $46. The supplier offers terms of 2/5, net 20. If you don't take the discount, how much interest are you paying implicitly? A. $46 B. $625.60 C. $792.00 D. $1,460 E. $1,564 10. During a normal month, Florence Lumber receives a total of eight checks with a total value of $576,000. On average, it takes 1 day from the date of deposit for the funds from these checks to be available to the firm. Assume each month has 30 days. What is the average daily float? A. $19,200 B. $273,000 C. $576,000 D. 8,190,000 E. $17,280,000 สตู ร • Operating cycle = Inventory period + Accounts receivable period • Inventory period = 365/Inventory turnover • Inventory turnover = COG/Average Inventory • Accounts receivable period = 365/Receivables turnover = Average Collection Period • Accounts receivable turnover = Credit sales/Average accounts receivable • Cash cycle = Operating Cycle – Accounts payable period • Accounts payable period = 365/Payables turnover • Payables turnover = COGS/Average account payable • EAR = ((1+ period rate)^(365/(days in period))-1 EOQ Model 3

• Total carrying cost = (Average inventory) x (Carrying cost per unit) = (Q/2)(CC) • Total restocking cost = (Fixed cost per order) x (Number of orders) = F(T/Q) • Total Cost = Total carrying cost + Total restocking cost = (Q/2)(CC) + F(T/Q) • Total Cost = Total carrying cost + Total restocking cost = (Q/2)(CC) + F(T/Q) • Q* = 2TF CC ส่วนท่ี 2 มจี ำนวน 1 ข้อ (10 คะแนน) ให้เติมคำตอบและแสดงวธิ ีทำในกระดำษคำตอบท่ีกำหนดให้ คำส่ัง ให้ใชอ้ ตั รำสว่ น (ratios) ตอ่ ไปนี้คำนวณหำจำนวนท่ีหำยไปในงบกำรเงิน แสดงสมกำรเรียงตำมลำดับข้อ 1, 2, 3, 4, 5 และ 6 ในกระดำษคำตอบหน้ำถัดไป *** นิสติ จะไม่ไดร้ ับคะแนนถา้ ไม่แสดงวธิ ีการคานวณ*** 1. Gross Profit Margin = (Gross Profit / Net Sales) =27% 2. Times interest earned ratio = (EBIT ÷ Interest Expenses) = 4 times 3. Quick Ratio={(Cash+Marketable Securities+Accounts Receivable)÷Current Liabilities} = 3 times 4. Average age of inventory = 365/ ( Cost of goods sold ÷ Average inventory) = 10 times 5. Fixed Asset Turnover = (Net Sales / Average Net Fixed Assets) = 1.25 6. Debt to Equity Ratio = (Total Liabilities ÷ Stockholders’ equity) = 0.32 times The financial statements of Merlion Company appear below: MERLION Company Comparative Balance Sheet For the Year Ended December 31 2017 2018 Assets Cash 80,000 40,000 Marketable securities (a) 50,000 Accounts receivable 70,000 40,000 Inventories (b) 10,000 Prepaid expenses (c) 30,000 Long-term investments 110,000 50,000 Land 100,000 140,000 Equipment (d) 320,000 Accumulated depreciation (90,000) (80,000) Total Assets (e) 600,000 Liabilities and Stockholders' Equity Accounts payable 10,000 20,000 Note payable 40,000 30,000 Income taxes payable 20,000 20,000 Bonds payable 90,000 120,000 Common stock 150,000 300,000 Retained earnings (f) 110,000 Total Liabilities and Stockholders' Equity (g) 600,000 4

MERLION Company Income Statement For the Year Ended December 31, 2018 Sales 500,000 Cost of goods sold (h) 100,000 80,000 Gross Profit (i) 20,000 Operating expense: (j) Net operating income Loss on sale of land (k) EBIT Interest expense (l) EBT (m) Income taxes Net income (n) Equation and calculation (1) Answer Equation and calculation (2) Answer Equation and calculation (3) Answer 5

Equation and calculation (4) Answer Equation and calculation (5) Answer Equation and calculation (6) Answer 6