Forman and Brasso Furniture Company had accounts receivable of 126,200 and net sales of 248,800 . Compute the ratio of accounts receivable to net sales. (Round answer to two decimal places.)
Q. 2An interior decorator buys furniture at the dealer price, but he charges his clients the retail price instead of charging a commission. A client pays 3,00 . for furniture that had a dealer price of 2,500 . To charge the client the same dollar amount, but calculating it as a commission, what commission rate would the decorator have to use?
Q. 3Forman and Brasso Furniture Company had ending inventory of 146,400 this year, ending inventory of 152,200 last year, and 194,400 as cost of goods sold. Compute the inventory turnover rate.
Q. 4In the first quarter of the year (January through March), a commission merchant sold several consignments of construction equipment, some used and some new. The sales price was 112,900 for the new equipment and 58,400 for the used equipment. The merchant charges commission rates of 10 to sell new equipment and 15 to sell used equipment. The merchant paid total freight charges of 2,490 to have the equipment delivered to the various buyers. Compute the net proceeds from the sales.
Q. 5Forman and Brasso Furniture Company had cash of 182,400 . accounts receivable of 126,200 . and current liabilities of 295,400 . Compute the acid test ratio.
Q. 6A contract merchant specializing in Stationery articles sold a consignment of articles for an office. The sales price was 22,650 with a commission rate of 16 for office articles. For this consignment, there was 650 freight that the merchant had to pay. What were the net proceeds due to the office?
Q. 7Forman and Brasso Furniture Company had total current assets of 455,00 . and total current liabilities of 295,400 . Compute the working capital ratio. (Round answer to two decimal places.)
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