Bonita Company's record of transactions for the month of April was as follows. April 1 (balance on hand) 4 8 13 21 Purchases 29 780 @ $5.90 1,950 @ 1,040 @ 1,560 @ 910 @ 6,890 6.00 6.30 6.40 6.50 650 @ 6.70 April 3 9 11 23 27 Sales 650 1,820 @ @ $10.00 780 @ 1,560 @ 1,170 5,980 10.00 11.00 11.00 12.00
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Assuming that periodic inventory records are kept in units only, compute the inventory at April 30 using LIFO and average-cost.
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- US Kiumel, finamclal Accounting, Se Hele I Syotem Aenouncements CALLAT Briel Exercise 8-11 he 20117 financial staternents of 3M Company report net sales of $25.3 billion. Accounts receivable (net) are $3.00 billion at the beginning of the year and $3.24 billion at the cde Compute 3M Company's receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio times SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period days Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 3 usecItem Prior year Current year Accounts payable 8,112.00 7,889.00 Accounts receivable 6,029.00 6,526.00 Accruals 981.00 1,445.00 Cash ??? ??? Common Stock 10,050.00 11,831.00 COGS 12,659.00 18,136.00 Current portion long-term 5,054.00 5,053.00 debt Depreciation expense 2,500 2,814.00 Interest expense 733 417 Inventories 4,101.00 4,816.00 Long-term debt 14,355.00 13,032.00 Net fixed assets 51,776.00 54,131.00 Notes payable 4,395.00 9,850.00 Operating expenses (excl. 13,977 depr.) 18,172 Retained earnings 28,273.00 29,816.00 Sales 47,524 Taxes 2,084 2,775 What is the firm's cash flow from operations? Submit Answer format: Number: Round to: 0 decimal places.Compute for the Day Sales Outstanding of Company X and Y. Compare each other. Use 360 days. Company X Company Y Accounts Receivables P452,100 P233,200 Annual Sales P3,205,100 P1,956,200
- Alfa completed the following transactions during the year ended 31 December 20x7 Credit sales during the year $53,300 Collection from receivables $56,100 During the year, total amount irrecoverable $560 Opening balance of receivables $8,600 Calculate the balance of receivables that will appear in the SOFP on 31 December 20x7. A.$5,800 B.$10,840 C.$5,240 D.$56,100Item Prior year Current year Accounts payable 8,198.00 7,775.00 Accounts receivable 6,030.00 6,768.00 Accruals 1,007.00 1,602.00 Cash ??? ??? Common Stock 10,168.00 12,293.00 COGS 12,621.00 18,231.00 Current portion long-term 4,953.00 5,046.00 debt Depreciation expense 2,500 2,756.00 Interest expense 733 417 Inventories 4,136.00 4,819.00 Long-term debt 14,434.00 13,704.00 Net fixed assets 50,920.00 54,636.00 Notes payable 4,385.00 9,940.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,358.00 30,071.00 Sales 35,119 47,773.00 Тахes 2,084 2,775 What is the firm's total change in cash from the prior year to the current year? Submit Answer format: Number: Round to: 0 decimal places.Problem 6 Tantrum Company provided the following information in relation to accounts receivable at year-end: Days Outstanding % Uncollectible Estimated Amount 1,200,000 0-60 1% 2% 61-120 900,000 Over 120 1,000,000 6% During the current year, the entity wrote off P70,000 in accounts receivable and recovered P20,000 that had been written off in prior years. At the beginning of current year, the allowance for uncollectible accounts was P60,000. Under the aging method, what amount of uncollectible accounts expense should be reported for the current year?
- FFA/FA FINANCIAL ACCOUNTING 11.15 At 31 May 20X7 Roberta's trial balance included the following items Inventory at 1 June 20X6 Trade receivables Trade payables Bank overdraft Loan due for repayment in 20X9 24 23,856 55,742 32,165 5,855 15,000 What is the value of Roberta's current liabilities at 31 May 20X7? fobam S $38,020 $53,020 $61,597 $76,597 C 11.16 Which one of the following statements is NOT a benefit of offering credit facilities to cuQUESTION 12. Che balances on certain accounts of ANNEY LTD CO as at 1 April 2012 were as follows. (all fīgures in TZS) At the beginning of the year Rent and rates payable Accruals • Prepayments Rent receivable- prepayments 625,000 2200,000 1940,000 During the year, the business carried out the following transactions Paid rent by cheque Paid rates by cheque Received cheque for rent 5200,000 3050,000 960,000 At the end of the year, Rent and rates payable Accruals 2370,000 Prepayments 1880.000 Rent receivable- prepayments 6s0,000 Required: prepare a) Rent and rates account b) Rent receivable ci Show the amount to be transferred to the income statement -oםםב Doolvd subject-Accounting
- 113 At 1 July 20X2 the receivables allowance of Q was $18,000. During the year ended 30 June 20X3 debts totalling $14,600 were written off. The receivables allowance required was to be $16,000 as at 30 June 20X3. What amount should appear in Q's statement of profit or loss for receivables expense for the year ended 30 June 20X3? B. $16,600 $12,600 C. $30,600 $48,600QUESTION 1 On December 31, 2018, Ava Company had an ending balance of $5864 in its accounts receivable account and an unadjusted (current) balance in its allowance for doubtful accounts account of $160.Ava estimates uncollectible accounts expense to be 9% of receivables. Based on this information, the amount of net realizable accounts receivable shown on the 2018 balance sheet is $Item Prior year Current year Accounts payable 8,174.00 7,997.00 Accounts receivable 6,053.00 6,627.00 Accruals 985.00 1,669.00 Cash ??? ??? Common Stock 11,632.00 12,699.00 COGS 12,739.00 18,024.00 Current portion long-term debt 4,909.00 4,968.00 Depreciation expense 2,500 2,846.00 Interest expense 733 417 Inventories 4,157.00 4,806.00 Long-term debt 14,646.00 14,472.00 Net fixed assets 51,341.00 54,892.00 Notes payable 4,311.00 9,948.00 Operating expenses (excl. depr.) 13,977 18,172 Retained earnings 28,728.00 30,469.00 Sales 35,119 46,331.00 Taxes 2,084 2,775 What is the firm's cash flow from financing?