CorpFin ass7

Statement date: 30 May 2012 Frequency: Monthly Account name: Mr PP Jonathan Account number: 1292113613 30 April 2012 to 30 May 2012 Statement period: Type: Current account Branch: Claremont (129236) Overdraft limit R10 000 2. Interest on overdraft: Up to R5 000: 9% Above R5 000: 13,5% Date Transaction details Debits Credits Balance - R2 260,00 2012-04-30 Opening balance 2012-05-01 Stop order - Rent 1 500,00 - R3 760,00 2012-05-01 Debit order - Multichoice 225,00 - R3 985,00 In - R4 185,00 - R4 605,00 2012-05-03 ATM cash withdrawal 200,00 2012-05-05 Debit transfer 420,00 2012-05-08 Cash deposit (branch) 500,00 - R4 105,00 2012-05-09 ATM cash withdrawal 300,00 - R4 405,00 2012-05-12 Checkers - debit card purchase 530,00 - R4 935,00 2 2012-05-24 Credit transfer 1 000,00 - R3 935,00 2012-05-25 Interest 29,51 R3 964,51 2 2012-05-29 Transaction fees 182,60 - R4 147,11 Refer 2012-05-29 2012-05-29 Salary EFT deposit Overdraft service fee 24,00 - R4 171,11 10 500,00 R6 328,89 3. 3. Closing…

Question Content Area Based on the following data for the current year, what is the inventory turnover? Sales on account during year $507,225 Cost of goods sold during year 190,106 Accounts receivable, beginning of year 47,004 Accounts receivable, end of year 51,339 Inventory, beginning of year 36,189 Inventory, end of year 44,233 Do not round interim calculations. Round your final answer to one decimal place. a.1.2 b.28.9 c.4.7 d.2.7

Class Collaborate-AC-163-44 P x CengageNOWv2| Online teachin X + 2.cengagenow.com/ilmn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignments... A Determine the following measures for 2018. Round ratio values to one decimal place and dollar amounts to the nearest cent. For number of days' sales in receivables and number of days' sales in inventory, round intermediate calculations to the nearest whole dollar and final amounts to one decimal place. Assume there are 365 days in the year. 1. Working capital Г 2,790,000 2. Current ratio 4.1 3. Quick ratio 2.5 4. Accounts receivable turnover 16 5. Days' sales in receivables 22.8 days 6. Inventory turnover 7. Days sales in inventory 8. Debt ratio days % 9. Ratio of liabilities to stockholders' equity 10. Ratio of fixed assets to long-term liabilities 11. Times interest earned times times 12. Times preferred dividends earned Check My Work 8 144 0 P Previous Email Instructor Save and Exr Submit Assignment for Grading pri se…

Create a Ledger for the Journal Entry General Journal     Page 1 Date Description Post Ref. Dr Cr 2023           Mar. 2 Cash   750       Account Receivables     750     To record payment for AR         4 Cash   170       Account Receivables     170     To record payment for AR         6 Account Receivables   1755       Sales     1755     To record Sales         7 Account Receivables   620       Sales     620     To record Sales           Cash   875       Sales     875     To record Sales           Promotion   690       Cash     690     To record payment for promotion         8 Cash   215       Account Receivables     215     To record payment for AR           Promotion   215       Cash     215     To record payment for promotion           Purchase   2017       Cash     2017     To record purchase of tshirts w/df         9 Promotion   700       Cash     700     To record payment for promotion         10 Account…

Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $463,358 Cost of merchandise sold during year 205,692 Accounts receivable, beginning of year 46,704 Accounts receivable, end of year 51,670 Merchandise inventory, beginning of year 33,192 Merchandise inventory, end of year 39,686 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number. a.59 days b.65 days c.129 days d.70 days

2.16) Find the average daily balance (new purchases included) Dates Payment End of Day Balance 4/1-4/5 4/6 4/7-4/22 4/23 4/24-4/30 Average $380.00 Purchase $110.00 Po X $300.00 x $410.00 x $410.00 X $30.00 X $30.00 x Total Number of Days v 5 1 16 1 7 30 Sum of Balances $1,500.00 $410.00 $6,560.00 $30.00 $210.00

2.19) Find the average daily balance (new purchases included) Payment End of Day Balance Dates 1/1-1/19 1/20 1/21-1/22 1/23 1/24-1/31 $250.00 Average → Purchase $50.00 X Number of Days $225.00 x $275.00 x $275.00 x $25.00 x $25.00 x Total → 19 1 2 1 8 31 Sum of Balances I If the finance charge is 1.75% of the average daily balance, what is the finance charge is problem 2.19? Finance charge →

Instructions Journalize the following merchandise transactions. Refer to the chart of accounts for the exact wording of the account itles. CNOW journals do not use ines for jounal explanations. Every Nne on a journal page is used for debit or aredit ents. CNOW journals will automaticaly indent a credit entry when a credit amount s entered. 1 Sold merchandise on account, $94,800 with terms 2/10, n30. The sost.ot the merchandise nold was Mar. $56,900. Received payment les the discount. 13 Issued a $500 oredit memo for damaged merchandise. The customer agreed to keep the merchandise

Make a general ledger for each account title from the general journal below.

Required information [The following information applies to the questions displayed below.] The transactions listed below are typical of those involving Southern Sporting Goods (SSG) and Sports R Us (SRU). SSG is a wholesale merchandiser and SRU is a retail merchandiser. Assume all sales of merchandise from SSG to SRU are made with terms n/30, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31. a. SSG sold merchandise to SRU at a selling price of $140,000. The merchandise had cost SSG $100,000. b. Two days later, SRU complained to SSG that some of the merchandise differed from what SRU had ordered. SSG agreed to give an allowance of $4,500 to SRU. SRU also returned some sporting goods, which had cost SSG $13,500 and had been sold to SRU for $18,000. No further returns are expected c. Just three days later SRU paid SSG, which settled all amounts owed. . Prepare…

Question Content Area Based on the following data for the current year, what is the inventory turnover (rounded to one decimal place)? Sales on account during year $586,967 Cost of merchandise sold during year 176,594 Accounts receivable, beginning of year 46,824 Accounts receivable, end of year 52,382 Merchandise inventory, beginning of year 31,526 Merchandise inventory, end of year 40,442 a.21.2 b.4.9 c.16.3 d.3.9

DATE ACCOUNT TITLE FIVE COLUMN JOURNAL DOC. POST NO. REF. GENERAL DEBIT CREDIT SALES CREDIT 4 DEBIT CASH $200.00 CREDIT

Cengage Learning keAssignment/takeAssignmentMain.do?invoker=&takeAssignment geNOWv2 | Online teachi x Institution Page a. b. Freight Terms Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. a. b. Merchandise $58,600 73,100 Check My Work Freight Paid by Seller X $1,300 600 Presentation Principals of Mark X Session Locator=&inprogress=false Freight Terms FOB destination, 1/10, n/30 FOB shipping point, 2/10, n/30 Credit for Refunds and Allowances $6,500 3,900 ES Previous ☐ 9:08 O - 0

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Journal entry worksheet 1 23 Note: Enter debits before credits. Transaction d. Annual depreciation on the professional library is $7,993. 4 Record entry 5 6 7 8 General Journal Clear entry Debit Credit View general journal >

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Question 33 Singh Company received payment in full within the credit period for goods sold for $400 plus 13% HST. Terms of the sale were n/30. Which entry records this transaction? C13 Debit Cash, $452, credit Sales, $452 Debit Accounts Receivable $420, credit Sales, $420 Debit Cash, $400, credit Accounts Receivable, $400 Debit Cash, $452, credit Accounts Receivable, $452

Question Content Area Based on the following data for the current year, what is the number of days' sales in inventory? Assume 365 days a year. Sales on account during year $575,757 Cost of merchandise sold during year 193,428 Accounts receivable, beginning of year 43,481 Accounts receivable, end of year 51,054 Merchandise inventory, beginning of year 32,544 Merchandise inventory, end of year 43,018 Round your intermediate calculations to the nearest dollar. When required, round your answer to the whole number.

Chapter : Adjustment financial statements

eBook   Show Me How Question Content Area Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company reported the following: Line Item Description 20Y9 20Y8 Sales $7,906,000 $6,726,000 Accounts receivable:     Beginning of year 600,000 540,000 End of year 580,000 600,000 a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round your answers to one decimal place. b. Determine the days’ sales in receivables for 20Y9 and 20Y8. Assume 365 days in a year. Round intermediate calculations and final answers to one decimal place.