Particulars | 2020 | 2021 | 2022 |
Current Assets | |||
Cash | 35,000 | 31,000 | 29,000 |
Accounts Receivables | 43,000 | 35,000 | 39,000 |
Inventory | 37,000 | 45,000 | 43,000 |
Total current Assets | 1,15,000 | 1,11,000 | 1,11,000 |
Non Current Assets | |||
Plant & Equipment Net | 77,000 | 75,000 | 55,000 |
Total Non Current Assets | 77,000 | 75,000 | 55,000 |
Total Assets | 1,92,000 | 1,86,000 | 1,66,000 |
Credit Sales | 1,41,000 | 1,34,940 | 1,29,000 |
Cost of Goods Sold | (99,000) | (97,000) | (87,000) |
Gross Profit | 42,000 | 37,940 | 42,000 |
Year | Debtors | |||
Particulars | Amount | Particulars | Amount | |
2020 | Balance | 43,000 | Cash Collected | 1,49,000 |
Credit Sales | 1,41,000 | Balance | 35,000 | |
TOTAL | 1,84,000 | TOTAL | 1,84,000 | |
2021 | Balance | 35,000 | Cash Collected | 1,30,940 |
Credit Sales | 1,34,940 | Balance | 39,000 | |
TOTAL | 1,69,940 | TOTAL | 1,69,940 | |
2022 | Balance | 39,000 | Cash Collected | - |
Credit Sales | 1,29,000 | Balance | 1,68,000 | |
TOTAL | 1,68,000 | TOTAL | 1,68,000 |
Average Accounts Receivables | =35,000+39,000/2 | =54,500 |
Net Credit Sales | =1,34,940 | |
Accounts Receivables = | 1,34,940/54,500 = | 2.47 Times |
New Tab term 1 (Fall 2020) Question 14 of 40 > - /5.63 The 2020 2021...
Question 14 of 40 -/5.63 E The 2020 2021 and 2022 partial balance sheets for Blossom Manufacturing Company appear below. 2020 2021 2022 Current assets Cash Accounts receivable.net Inventory Total current assets Plant & equipment, net Total assets $21000 $ 17000 15000 29000 21000 25000 23000 31000 29000 73000 69000 69000 63000 61000 41000 $136000 $130000 $110000 Net credit sales for Blossom were $127000 for 2020. $121000 for 2021 and $115000 for 2022 while cost of goods sold was $85000...