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A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820 Suppose Columbia Sportswear Company had accounts receivable of $302,580,850 at January 1, 2022, and $228,813,480 at December 31, 2022. Assume sales revenue was $1,256,463,230 for the year 2022. What is the amount of cash receipts from customers in 2022? Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? a. 24.89 days b. 39.80 days c. 51.92 days d. 62.56 days e. 83.77 days

A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820 Suppose Columbia Sportswear Company had accounts receivable of $302,580,850 at January 1, 2022, and $228,813,480 at December 31, 2022. Assume sales revenue was $1,256,463,230 for the year 2022. What is the amount of cash receipts from customers in 2022? Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? a. 24.89 days b. 39.80 days c. 51.92 days d. 62.56 days e. 83.77 days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820 Suppose Columbia Sportswear Company had accounts receivable of $302,580,850 at January 1, 2022, and $228,813,480 at December 31, 2022. Assume sales revenue was $1,256,463,230 for the year 2022. What is the amount of cash receipts from customers in 2022? Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? a. 24.89 days b. 39.80 days c. 51.92 days d. 62.56 days e. 83.77 days
Transcribed Image Text:A building with a book value of $49,315 is sold for $53,135 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of: a. $49,315 from investing activities b. $53,135 from investing activities c. $53,135 from investing activities and a deduction from net income of $3,820 d. $49,315 from investing activities and an addition to a net income of $3,820 Suppose Columbia Sportswear Company had accounts receivable of $302,580,850 at January 1, 2022, and $228,813,480 at December 31, 2022. Assume sales revenue was $1,256,463,230 for the year 2022. What is the amount of cash receipts from customers in 2022? Captain Kurt's Enterprises has a receivables turnover rate of 12.8, a payables turnover rate of 11.9, and an inventory turnover rate of 15.6. What is the length of the firm's operating cycle? a. 24.89 days b. 39.80 days c. 51.92 days d. 62.56 days e. 83.77 days
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