What was the company’s change in Gross Profit Margin in 2020 versus 2019?

use pages 48-65 in the book
1
2 points
Item 1 is unpinned. Click to pin.
Which of the following line items would most likely appear on the Statement of Owner’s Equity?
Commission Revenue
Buildings, Plant & Equipment
Increase/(Decrease) in Cash from Financing
Owner Withdrawals
Item at position 2
2
2 points
Item 2 is unpinned. Click to pin.
Which of the following line items would most likely appear on the Income Statement?
Net Margin
Accounts Receivable
Increase/(Decrease) in Cash from Financing
Initial Paid In Capital
Item at position 3
3
2 points
Item 3 is unpinned. Click to pin.
Which of the following line items would most likely appear on the Balance Sheet?
Cost of Goods Sold
Owner Withdrawals
Total Assets
Gross Profit
Item at position 4
4
2 points
Item 4 is unpinned. Click to pin.
Which of the following line items would most likely appear on the Statement of Cash Flows?
Wage & Salary Expense
Accounts Payable
Increase/(Decrease) in Cash from Financing
Total Liabilities & Owner’s Equity
Item at position 5
5
2 points
Item 5 is unpinned. Click to pin.
Which financial statement reconciles the period’s beginning cash balance with the period’s ending cash balance?
Income Statement
Balance Sheet
Statement of Cash Flows
Statement of Owner’s Equity
Item at position 6
6
2 points
Item 6 is unpinned. Click to pin.
True or False? If the Accounts Payable balance increases during the accounting period, the company is borrowing less from its vendors.
True
False
Item at position 7
7
2 points
Item 7 is unpinned. Click to pin.
Why is Depreciation Expense added back to Net Income when calculating operating cash flow?
To avoid double counting this expense.
This expense was recognized in a previous period.
Depreciation Expense was subtracted to calculate Net Income, but it is not a cash outflow, so it must be added back to Net Income.
No one knows what Depreciation Expense is.
Item at position 8
8
2 points
Item 8 is unpinned. Click to pin.
What was the company’s Current Ratio as of 12/31/2019?
1.3
3.5
4.3
1.2
Item at position 9
9
2 points
Item 9 is unpinned. Click to pin.
What was the company’s Debt-to-Equity Ratio as of 12/31/2020?
.69
.96
1.3
3.1
Item at position 10
10
2 points
Item 10 is unpinned. Click to pin.
What was the company’s Average Inventory Turnover for 2020? Remember to use the 2019 Merchandise Inventory amount as the Beginning Inventory value for 2020
1.4
1.5
.86
1.6
Item at position 11
11
2 points
Item 11 is unpinned. Click to pin.
By what percentage did Total Assets Change in 2020 versus 2019?
6.3%
7.8%
-8.0%
8.0%
Item at position 12
12
2 points
Item 12 is unpinned. Click to pin.
What was the company’s Gross Profit Margin for 2020?
66%
68%
72%
61%
Item at position 13
13
2 points
Item 13 is unpinned. Click to pin.
What was the company’s change in Gross Profit Margin in 2020 versus 2019?
64%
66%
2%
3%
Item at position 14
14
2 points
Item 14 is unpinned. Click to pin.
What was the company’s Days Sales Outstanding for 2020? Use 365 days for the numerator, and the appropriate 2019 value for the beginning balance in the denominator calculation.
999
99
9
90
Item at position 15
15
2 points
Item 15 is unpinned. Click to pin.
What was the company’s Return on Equity for 2020? Remember to use the 2019 Total Equity amount as the Beginning Equity value for 2020.
32.2%
31.8%
23.1%
99.7%

Last Completed Projects