Dev Corporation's financial statements contained the following information: Accounts Receivable Sales Revenue Cash $6,000 $82,000 $18,000 Salaries and Wages Expense $25,000 Rent Expense $12,000 How much was Dev's net income?
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- What is its accounts receivable turnover of this financial accounting question?Newark Company has provided the following information:Cash sales, $600,000Credit sales, $1,500,000Selling and administrative expenses, $480,000Sales returns and allowances, $105,000Gross profit, $1,510,000Increase in accounts receivable, $70,000Bad debt expense, $48,000Sales discounts, $58,000Net income, $1,030,000How much are Newark's net sales?how would i find net sales without revenue? I think it what I am trying to findWhat is the accounts receivable turnover for techno ware inc. Of this general accounting question?
- Consider the following company’s balance sheet and income statement. For this company, calculate the following: Current ratio. Number of days’ sales in receivables. Sales to total assets.A company has $523 in inventory, $1786 in net fixed assets, $210 in account receivable, $81 in cash, and $234 in accounts payable. What are the company's total current assets?I need this question answer general Accounting
- The following items are reported on a company's balance sheet: Cash $112,300 Marketable securities 131,400 Accounts receivable (net) 45,200 Inventory 170,000 Accounts payable 270,000. Determine the current ratio ?The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $196,800 $212,000 $226,000 Sales on account 1,124,200 1,073,100 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover fill in the blank 1 fill in the blank 2 2. Number of days' sales in receivables fill in the blank 3 days fill in the blank 4 daystres
- What is the financial performance summary for this balance sheet? BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS LIABILITIES Revenue 28,681.10 Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Cost Of Goods Sold 20,768.80 Accounts Receivable 954.80 Salaries Payable 225.20 Gross Profit 7,912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Operating Expenses: Total Current Assets 5,166.50 Selling, General & Admin. 5,980.80 Other Liabilities 693.40 Depreciation 307.30 Machinery & Equipment 1,688.90 Operating income 1,624.20 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Interest - Depreciation (575.60) SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) Property, Plant & Equip. - Net…A company has $635 in inventory, $1,930 in net fixed assets, $306 in accounts receivable, $145 in cash, and $362 in accounts payable. What are the company's total current assets?Gregg Corp. reported revenue of $1,450,000 in its cash basis income statement for the year ended Dec. 31, Year 7. Additional information was as follows: Accounts receivable, Jan 1, Year 7 $400,000 Accounts receivable, Dec 31, Year 7 $530,000 Under the accrual basis, Gregg would report revenue of O $1,580,000 O $1,035,000 $1,335,000 O $1,505,000