SHOW YOUR SOLUTIONS and FORMULA, please do not use excel The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information. Account Titles 2019 2018 Sales 600,000 400,000 Direct Materials Inventory, January 1 16,000 26,080 Direct Materials Purchases 108,000 95,120 Direct Materials, Inventory Dec. 31 24,000 16,000 Direct Labor 81,000 64,000 Factory overhead (including depreciation of P10,000 for 2019 and P6,000 for 2018) 60,000 48,000 Operating Expenses (including depreciation of P12,000) 250,000 120,000 Interest Expenses 6,000 5,000 Provision for Income Tax 32,000 23,000 Work in Process, Jan. 1 27,000 13,800 Work in Process, Dec. 31 32,000 27,000 Finished goods, Jan. 1 52,000 45,000 Finished goods, Dec. 31 48,000 52,000 Cash 30,000 24,400 Marketable Securities 10,000 32,000 Accounts Receivable 50,000 30,000 Factory Supplies 2,400 4,000 Prepaid Expenses 3,600 4,600 Investments 50,000 40,000 Accounts Payable 30,500 44,000 Accrued Expenses 16,000 23,000 Long-Term Loans Payable 120,000 100,000 The following are to be computed as per request of the officers of the corporation: Average Receivable Collection Period Inventory Turnover Number of Days on Inventory on Hand Number of Days on Raw Materials on Hand Accounts Payable Days Days of Working Capital
SHOW YOUR SOLUTIONS and FORMULA, please do not use excel
The Maylad Corporation has requested you to analyze its financial statements for 2019 and has provided you with the following information.
|
Account Titles |
2019 |
2018 |
|
Sales |
600,000 |
400,000 |
|
Direct Materials Inventory, January 1 |
16,000 |
26,080 |
|
Direct Materials Purchases |
108,000 |
95,120 |
|
Direct Materials, Inventory Dec. 31 |
24,000 |
16,000 |
|
Direct Labor |
81,000 |
64,000 |
|
Factory |
60,000 |
48,000 |
|
Operating Expenses (including depreciation of P12,000) |
250,000 |
120,000 |
|
Interest Expenses |
6,000 |
5,000 |
|
Provision for Income Tax |
32,000 |
23,000 |
|
Work in Process, Jan. 1 |
27,000 |
13,800 |
|
Work in Process, Dec. 31 |
32,000 |
27,000 |
|
Finished goods, Jan. 1 |
52,000 |
45,000 |
|
Finished goods, Dec. 31 |
48,000 |
52,000 |
|
Cash |
30,000 |
24,400 |
|
Marketable Securities |
10,000 |
32,000 |
|
|
50,000 |
30,000 |
|
Factory Supplies |
2,400 |
4,000 |
|
Prepaid Expenses |
3,600 |
4,600 |
|
Investments |
50,000 |
40,000 |
|
Accounts Payable |
30,500 |
44,000 |
|
Accrued Expenses |
16,000 |
23,000 |
|
Long-Term Loans Payable |
120,000 |
100,000 |
The following are to be computed as per request of the officers of the corporation:
- Average Receivable Collection Period
- Inventory Turnover
- Number of Days on Inventory on Hand
- Number of Days on Raw Materials on Hand
- Accounts Payable Days
- Days of
Working Capital
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