An analyst has been given the following extracts from a company’s balance sheet: Balance sheet as...
An analyst has been given the following extracts from a company’s balance sheet:
|
Balance sheet as at 31 December |
Year 1 ($) |
Year 2 ($) |
|
Accounts receivable |
200 |
220 |
|
Property, plant and equipment |
500 |
700 |
The company had a receivable turnover of 10x in Year 1. This increased to 11x in Year 2. Capital expenditure was $250 in the year ended 31 December Year 2.
Which of the following is closest to total sales and the depreciation expense for the year ended 31 December Year 2?
Total Sales Depreciation
- $2,310 $200
- $2,310 $50
- $2,420 $200
- $2,420 $50
Homework Answers
Accounts receivable turnover = Sales / Accounts receivable
11 = Sales / $220
Sales = $220 * 11
= $2,420
Depreciation = Property, plant and equipment in year 1 + Capital expenditure - Property, plant and equipment in year 2
= $500 + $250 - $700
= $50
The answer is D.
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