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Accounts Receivable Turnover ratio= 
Net credit Sales for 2021= 142140
Average Accounts Receivable= 
Closing Accounts receivable for 2020 is opening Accounts Receivable for 2021.
Average Accounts Receivable= 
= 46000
Accounts Receivable Turnover ratio=
=
3.09 Times
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The 2020, 2021 and 2022 partial balance sheets for Wildhorse Manufacturing Company appear below. 2020 2021...
The 2020, 2021 and 2022 partial balance sheets for Wildhorse Manufacturing Company appear below. 2020 2021...
The 2020, 2021 and 2022 partial balance sheets for Wildhorse Manufacturing Company appear below. 2020 2021 2022 Current assets Cash Accounts receivable, net Inventory Total current assets Plant & equipment, net Total assets $42000 $ 38000 $ 36000 50000 42000 46000 44000 52000 50000 136000 132000 132000 84000 82000 62000 $220000 $214000 $194000 Net credit sales for Wildhorse were $148000 for 2020, $142140 for 2021 and $136000 for 2022, while cost of goods sold was $106000 for 2020. 5104000 for...
46. The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below. 2020...
46. The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below. 2020 2021 2022 Current assets Cash $ 20,000 $ 16,000 $ 14,000 Accounts receivable, 28,000 20,000 24,000 net Inventory Total current assets Plant & equipment, net 22.000 70,000 62.000 30.000 66,000 60.000 28.000 66,000 40.000 Total assets $132,000 $126,000 $106.000 Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020,...
Question 14 of 40 -/5.63 E The 2020 2021 and 2022 partial balance sheets for Blossom...
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...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021 $ 70,000 $68,000 51,000 40,000 109,000 91,000 231,000 167,000 27,000 26,000 134,000 134,000 264,000 186,000 $886,000 $712,000 Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable $171,000 $109,000 Accounts payable 67,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 250,000 170,000 Common stock, $10 par 206,000 151,000 206,000 133,000 Retained earnings Total liabilities and stockholders' equity $886,000...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions...
The top part of Ramakrishnan, Inc.’s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Current liabilities: Cash and marketable securities $ 52 $ 43 Accrued wages and taxes $ 41 $ 40 Accounts receivable 152 137 Accounts payable 96 85 Inventory 215 196 Notes payable 67 59 Total $ 419 $ 376 Total $ 204 $ 184 Calculate Ramakrishnan, Inc.’s current ratio for 2021 and 2020 Calculate Ramakrishnan, Inc.’s quick...
The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions...
The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Cash and marketable securities Accounts receivable Inventory Total $ 62 157 220 $439 $ 53 142 201 $396 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total $ 46 101 1 62 $209 $ 45 90 54 $189 Calculate Ramakrishnan, Inc.'s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.)...
Presented below are selected accounts of Wildhorse Company at December 31, 2020. Inventory (finished goods) Unearned...
Presented below are selected accounts of Wildhorse Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 53,500 Cost of Goods Sold 95,200 Notes Receivable 257,100 Accounts Receivable 36,000 Inventory (raw materials) 43,800 Supplies Expense 39,500 Allowance for Doubtful Accounts Licenses 58,300 Additional Paid-in Capital Treasury Stock $2,192,400 41,000 161,020 182,280 65,490 11,290 16,890 88,040 22,320 53,200 The following additional information is...
ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 $ 69,000 $ 65,000 Cash Debt investments...
ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 $ 69,000 $ 65,000 Cash Debt investments (short-term) 55,000 40,000 Accounts receivable 109,000 89,000 168,000 Inventory 239,000 23,000 26,000 Prepaid expenses Land 129,000 129,000 Building and equipment (net) 264,000 186,000 $888,000 $703,000 Total assets Liabilities and Stockholders' Equity $169,000 $109,000 Notes payable Accounts payable 66,000 52,000 42,000 42,000 Accrued liabilities Bonds payable, due 2025 251,000 170,000 Common stock, $10 par 204,000 204,000 156,000 Retained earnings 126,000 $888,000 $703,000 Total liabilities and...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
The 2020, 2021 and 2022 partial balance sheets for Wildhorse Manufacturing Company appear below. 2020 2021 2022 Current assets Cash Accounts receivable, net Inventory Total current assets Plant & equipment, net Total assets $42000 $ 38000 $ 36000 50000 42000 46000 44000 52000 50000 136000 132000 132000 84000 82000 62000 $220000 $214000 $194000 Net credit sales for Wildhorse were $148000 for 2020, $142140 for 2021 and $136000 for 2022, while cost of goods sold was $106000 for 2020. 5104000 for...
46. The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below. 2020 2021 2022 Current assets Cash $ 20,000 $ 16,000 $ 14,000 Accounts receivable, 28,000 20,000 24,000 net Inventory Total current assets Plant & equipment, net 22.000 70,000 62.000 30.000 66,000 60.000 28.000 66,000 40.000 Total assets $132,000 $126,000 $106.000 Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020,...
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...
WILDHORSE COMPANY Balance Sheets December 31 Assets Cash Debt investments (short-term) Accounts receivable Inventory 2022 2021 $ 70,000 $68,000 51,000 40,000 109,000 91,000 231,000 167,000 27,000 26,000 134,000 134,000 264,000 186,000 $886,000 $712,000 Prepaid expenses Land Building and equipment (net) Total assets Liabilities and Stockholders' Equity Notes payable $171,000 $109,000 Accounts payable 67,000 53,000 Accrued liabilities 41,000 41,000 Bonds payable, due 2025 250,000 170,000 Common stock, $10 par 206,000 151,000 206,000 133,000 Retained earnings Total liabilities and stockholders' equity $886,000...
2020 FLINT CORPORATION Balance Sheets December 31 2022 2021 Cash $ 32,000 $ 22,000 Accounts receivable (net) 52,000 47,000 Other current assets 93,000 98,000 Investments 58,000 73,000 Plant and equipment (net) 500,000 370,000 $735,000 $610,000 Current liabilities $ 87,000 $ 82,000 Long-term debt 148,000 88,000 Common stock, $10 par 323,000 313,000 Retained earnings 177,000 127,000 $735,000 $610,000 $ 20,000 50,000 67,000 48,000 358,000 $543,000 $ 72,000 53,000 303,000 115,000 $543,000 FLINT CORPORATION Income Statements For the Years Ended December 31...
The top part of Ramakrishnan, Inc.'s 2021 and 2020 balance sheets is listed below (in millions of dollars). 2021 2020 2021 2020 Current assets: Cash and marketable securities Accounts receivable Inventory Total $ 62 157 220 $439 $ 53 142 201 $396 Current liabilities: Accrued wages and taxes Accounts payable Notes payable Total $ 46 101 1 62 $209 $ 45 90 54 $189 Calculate Ramakrishnan, Inc.'s current ratio for 2021 and 2020. (Round your answers to 2 decimal places.)...
Presented below are selected accounts of Wildhorse Company at December 31, 2020. Inventory (finished goods) Unearned Service Revenue Equipment Inventory (work in process) Cash Debt Investments (trading) Customer Advances Restricted Cash for Plant Expansion $ 53,500 Cost of Goods Sold 95,200 Notes Receivable 257,100 Accounts Receivable 36,000 Inventory (raw materials) 43,800 Supplies Expense 39,500 Allowance for Doubtful Accounts Licenses 58,300 Additional Paid-in Capital Treasury Stock $2,192,400 41,000 161,020 182,280 65,490 11,290 16,890 88,040 22,320 53,200 The following additional information is...
ORIOLE COMPANY Balance Sheets December 31 Assets 2022 2021 $ 69,000 $ 65,000 Cash Debt investments (short-term) 55,000 40,000 Accounts receivable 109,000 89,000 168,000 Inventory 239,000 23,000 26,000 Prepaid expenses Land 129,000 129,000 Building and equipment (net) 264,000 186,000 $888,000 $703,000 Total assets Liabilities and Stockholders' Equity $169,000 $109,000 Notes payable Accounts payable 66,000 52,000 42,000 42,000 Accrued liabilities Bonds payable, due 2025 251,000 170,000 Common stock, $10 par 204,000 204,000 156,000 Retained earnings 126,000 $888,000 $703,000 Total liabilities and...
RIVERBED CORPORATION Balance Sheets December 31 2022 2021 Cash $ 33,000 $23,000 Accounts receivable (net) 53,000 48,000 Other current assets 95,000 100,000 Investments 60,000 75,000 Plant and equipment (net) - 500,000 370,000 $741,000 $616,000 Current liabilities $ 88,000 $ 83,000 Long-term debt 150,000 90,000 Common stock, $10 par 325,000 315,000 Retained earnings 178,000 128,000 $741,000 $616,000 2020 $ 21,000 51,000 69,000 50,000 358,000 $549,000 $ 73,000 55,000 305,000 116,000 $549,000 RIVERBED CORPORATION Income Statements For the Years Ended December 31...
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