Homework Help is Here – Start Your Trial Now!
Business
Accounting
1. On December 31, 2016, IZZY Corporation presents the following information in its financial statements : From the Statement of Financial Position Cash Php 900 000 Accounts Receivables 1400 000 Inventory 850 000 Prepaid Items Accounts Payables 90 000 550 000 From the Statement of Comprehensive Income Php 7800 000 Sales Cost of Sales 5 460 000 Operating Expenses Financing Charges 1450 000 150 000

1. On December 31, 2016, IZZY Corporation presents the following information in its financial statements : From the Statement of Financial Position Cash Php 900 000 Accounts Receivables 1400 000 Inventory 850 000 Prepaid Items Accounts Payables 90 000 550 000 From the Statement of Comprehensive Income Php 7800 000 Sales Cost of Sales 5 460 000 Operating Expenses Financing Charges 1450 000 150 000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Kindly answer all for an upvote

1. On December 31, 2016, IZZY Corporation presents the following information in its financial statements: From the Statement of Financial Position Cash Php 900 000 Accounts Receivables 1400 000 Inventory 850 000 Prepaid Items Accounts Payables 90 000 550 000 From the Statement of Comprehensive Income Php 7 800 000 Sales Cost of Sales 5 460 000 Operating Expenses Financing Charges 1450 000 150 000 REQUIRED: Compute the following: 1. Inventory Conversion Period 2. Receivable Collection Period 3. Payable Deferral Period 4. Cash Conversion Cycle
Transcribed Image Text:1. On December 31, 2016, IZZY Corporation presents the following information in its financial statements: From the Statement of Financial Position Cash Php 900 000 Accounts Receivables 1400 000 Inventory 850 000 Prepaid Items Accounts Payables 90 000 550 000 From the Statement of Comprehensive Income Php 7 800 000 Sales Cost of Sales 5 460 000 Operating Expenses Financing Charges 1450 000 150 000 REQUIRED: Compute the following: 1. Inventory Conversion Period 2. Receivable Collection Period 3. Payable Deferral Period 4. Cash Conversion Cycle
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Effect Of Interest Rate
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS