PROBLEM B. The following information is excerpts from the Financial Statements of ABC Corporation: 2013 2014 2015 Accounts Receivable P 90,000.00 85,000.00 80,000.00 Inventory 90,000.00 100,000.00 80,000.00 Current Assets 260,000.00 280,000.00 240,000.00 Total Assets 1,450,000.00 1,500,000.00 1,400,000.00 Current Liabilities 100,000.00 160,000.00 140,000.00 Cash Sales 900,000.00 840,000.00 800,000.00 Credit Sales 2,620,500.00 2,500,000.00 2,400,000.00 Cost of Sales 0,000.00 648,000.00 620,000.00

PROBLEM B. The following information is excerpts from the Financial Statements of ABC Corporation: 2013 2014 2015 Accounts Receivable P 90,000.00 85,000.00 80,000.00 Inventory 90,000.00 100,000.00 80,000.00 Current Assets 260,000.00 280,000.00 240,000.00 Total Assets 1,450,000.00 1,500,000.00 1,400,000.00 Current Liabilities 100,000.00 160,000.00 140,000.00 Cash Sales 900,000.00 840,000.00 800,000.00 Credit Sales 2,620,500.00 2,500,000.00 2,400,000.00 Cost of Sales 0,000.00 648,000.00 620,000.00

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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