Homework Answers
| 1. Accounts receivable= | |
| Opening Balance | 4500 |
| (+) Credit sales | 20000 |
| (-) Cash collections | -14000 |
| (=) closing balance | 10500 |
| Answer is 10500 Debit |
| 2. Debt to assets ratio= Total liabilities/Total assets | ||||
| Total liabilities | 40000 | |||
| Total assets | 100000 | |||
| (Total assets= Total liabilities+stocholders equity | ||||
| Ratio | 40% | |||
| Answer is (B) |
| 3. Free cash Flow | |
| Cash from operations | 45000 |
| (-) capital expenditure | -18000 |
| (-) dividend paid | -8000 |
| FCF | 19000 |
| Answer is A |
| Working Capital | |
| Current Assets | |
| Accounts receivable | 66000 |
| Cash | 24000 |
| Inventory | 160000 |
| Total | 250000 |
| Current Liabilities | |
| Accounts payable | 28000 |
| Salaries & wages payable | 5000 |
| 33000 | |
| Working capital | 217000 |
| Asnwer is B |
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acct hw help
QUESTION 30 At December 1, 2014, Orear Company's Accounts Receivable balance was $4,500....
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acct hw help
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Sales/Accounts Receivable
2. Calculate Account payable turnover for both 2014 and 2015
using this formula
Cost of Goods Sold/Accounts Payable
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this formula
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acct hw help
QUESTION 26 Elston Company compiled the following financial information as of December 31, 2014: Service revenue $700,000 Common stock 150,000 Machine 350,000 Operating expenses 625,000 Cash 200,000 Dividends 50,000 Supplies 25,000 Accounts payable 100,000 Accounts receivable 75,000 Inventory 80,000 Retained earnings, 1/1/14 375,000 Elston's assets on December 31, 2014 are $650,000 $730,000 OO $625,000 $475,000 QUESTION 25 These financial statement items are for ABC Corporation at year-end, December 31, 2011: Salaries expense Utilities expense Equipment Accounts Payable...
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The accounts receivable balance on the balance sheet should be
‘net of allowance for doubtful accounts’. Resulting in a net
balance of $100,000. Total assists and total liabilities plus
equity balances should equal $810,000.
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1. Calculate Account rececivable turnover for both 2014 and
2015 using this formula
Sales/Accounts Receivable
2. Calculate Account payable turnover for both 2014 and 2015
using this formula
Cost of Goods Sold/Accounts Payable
3. calculate Return of Equity for both 2014 and 2015 using
this formula
Net Income/Common Equity
2017. Review the following financial data, and then answer the questions below. Company X Income Statement FYE 2014 and 2015 Period Ending 31-Jan-15 Total Sales $ 485,651,000 Cost of Goods 365,086.000...
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