Starkey companys sales current assets and current, Ask an Expert

Accounting

Starkey Company's sales, current assets, and current liabilities (all in thousands of dollars) have been reported as follows over the last five years (Year 5 is the most recent year):

	Year 5		Year 4		Year 3		Year 2		Year 1
Sales	$	5,765	$	5,410	$	5,120	$	4,855	$	4,600

Current assets:
Cash	$	82	$	91	$	89	$	102	$	96
Accounts receivable		571		503		450		431		408
Inventory		915		891		823		881		812

Total current assets	$	1,568	$	1,485	$	1,362	$	1,414	$	1,316

Current liabilities	$	404	$	337	$	331	$	336	$	315

Required:
1.	Express all of the asset, liability, and sales data in trend percentages. Use Year 1 as the base year.(Round your answers to 1 decimal place.)

	Year 5	Year 4	Year 3	Year 2	Year 1
Sales	%	%	%	%	%
Current assets:
Cash	%	%	%	%	%
Accounts receivable	%	%	%	%	%
Inventory	%	%	%	%	%
Total current assets	%	%	%	%	%
Current liabilities	%	%	%	%	%

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9950419

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - texas roadhouse opened a new restaurant in

Question - Texas Roadhouse opened a new restaurant in October. During its first three months of operation, the restaurant sold gift cards in various amounts totaling $2,900. The cards are redeemable for meals within one ...

Question - what is the difference between expensing assets

Question - What is the difference between expensing assets such as cement, tools, machinery, etc rather than depreciating certain items. How to correct this on the company's books if they have been expensing everything s ...

Questions -q1 during 2017 remy paid the following expenses

Questions - Q1. During 2017, Remy paid the following expenses: Prescription medicines $640 Aspirin, vitamins, and cold medicine 165 Hospital and treatment fees 1,050 Health insurance premiums 250 What is the total amount ...

Question - ross company had the following inventory at the

Question - Ross Company had the following inventory at the end of the year: Quantity Unit Price Cost Market Valves: Model Q 180 $11 $9 Model R 150 10 12 Model S 120 7 9 Gaskets: Model Alpha 60 100 105 Model ...

Question assessment type case study assignment- purpose

Question: Assessment Type: Case Study Assignment- Purpose: This assessment will allow students to demonstrate their understanding of auditing standards, procedures and techniques, how they are applied in organisational s ...

Question - adams jackson invests 53400 at 8 annual interest

Question - Adams Jackson invests $53,400 at 8% annual interest, leaving the money invested without withdrawing any of the interest for 8 years. At the end of the 8 years, Adams withdraws the accumulated amount of money. ...

Question - before closing the revenue and expense accounts

Question - Before closing the revenue and expense accounts for the month of June ABC Company's Retained Earnings Account had a $50,000 credit balance. ABC's Net Income for June was $20,000. ABC declared and paid a $5,000 ...

Question competencyjustify the proper accounting for

Question: Competency Justify the proper accounting for transactions with respect to accounting changes and error corrections using the accounting codification and other accounting research tools. Scenario: CM Corporation ...

Question - on june 15 richwood township decided to withdraw

Question - On June 15, Richwood Township decided to withdraw $3,035,000 for a capital projects payment. At the date of the withdrawal, the fair value of the Treasury notes had increased by $32,500. Assume that the trust ...

Question - on january 1 2017 pina corporation purchased 333

Question - On January 1, 2017, Pina Corporation purchased 333 of the $1,000 face value, 9%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2027, and pay interest annually beginning January 1, 2018. Pina pur ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert