Husky Company's revenue for March is $75,000, but only $15,000 cash is collected. Expenses for March are $41,000, of which $28,000 is paid in cash. During March, additional capital stock is issued in exchange for $5,000 cash. Using the accrual basis of accounting, Husky Company's income statement for March reports w

Husky Company's revenue for March is $75,000, but only $15,000 cash is collected. Expenses for March are $41,000, of which $28,000 is paid in cash. During March, additional capital stock is issued in exchange for $5,000 cash. Using the accrual basis of accounting, Husky Company's income statement for March reports w

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 50E: Juroe Company provided the following income statement for last year: Juroes balance sheet as of...

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As aof July 1, Roberto Corporation had total assets of $165,000. During July, the company made the following transcations:Generated Revenues of $60,000 of which 30% were in cash and remainder on Acct. Rec. Incurred total expenses of $40,000 40% of which were paid Collected receivables of $15,000 from previous periods.After these transactions have been recorded, Roberto would have totalassets of:a. $167,000b. $182,000c. $209,000d. $185,000
Bailey Co earns $27,792 of revenue on account and in $6,256 cash revenue transactions in Year 1. Cash collections of receivables amount to $7,152 in Year 1 with the remainder being collected in Year 2. Based on this information alone the company’s financial statements would show Total Revenue in Year 1 of $_
Judon Corp. provides the following information from its annual report. Assume all revenues are credit sales. The cost of revenues can be used as an approximation of the company's purchases for the year. Revenues $ 546,190 Cost of revenues $ 340,275 Inventories as of 31 January 2022 $44,064 Inventories as of 31 January 2021 $41,020 Accounts payable as at 31 January 2022 $58,600 Accounts payable as at 31 January 2021 $51,800 Accounts receivable as at 31 January 2022 $7,482 Accounts receivable as at 31 January 2021 $5,434 Compute the following financial ratios for Judon Corp for 2022 1. Account Receivable Turnover Ratio (Times)? 2. Collection Interval (DSO) / Days? 3. Inventory Turnover Ratio (Times) ? 4. Holding Interval (Days) ? 5. Account Payable Turnover Ratio (Times)? 6.Payment Interval (Days)? 7. Does Judon Corp need short-term financing? 8. Using the information provided, compute the change in operating working captial
Judon Corp. provides the following information from its annual report. Assume all revenues are credit sales. The cost of revenues can be used as an approximation of the company's purchases for the year. Revenues $ 546,190 Cost of revenues $ 340,275 Inventories as of 31 January 2022 $44,064 Inventories as of 31 January 2021 $41,020 Accounts payable as at 31 January 2022 $58,600 Accounts payable as at 31 January 2021 $51,800 Accounts receivable as at 31 January 2022 $7,482 Accounts receivable as at 31 January 2021 $5,434 Compute the following financial ratios for Judon Corp for 2022 1. Account Receivable Turnover Ratio (Times)? 2. Collection Interval (DSO) / Days? 3. Inventory Turnover Ratio (Times) ? 4. Holding Interval (Days) ? 5. Account Payable Turnover Ratio (Times)? 6.Payment Interval (Days)? 7. Does Judon Corp need short-term financing?
Suppose Alladin Travel, Inc., holds a note receivable as an investment. At the endof June, $100 of interest revenue has been earned. Journalize the accrued revenueadjustment at June 30.
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The average days of account payable?
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