The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance   $95000 Cash receipts   91000 Cash disbursements   129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is $57000. $38000. $19000. $24000.     The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance   $95000 Cash receipts   91000 Cash disbursements   129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is $57000. $38000. $19000. $24000.   The following information was taken from Swifty Corporation cash budget for the month of July: Beginning cash balance   $95000 Cash receipts   91000 Cash disbursements   129000 If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is $57000. $38000. $19000. $24000.   Kingbird, Inc. unadjusted trial balance includes the following balances (assume normal balances): • Accounts Receivable $1200000 • Allowances for Doubtful Accounts $21200 Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record? $73378 $49522 $72000 $50800 The financial statements of the Kingbird, Inc. report net sales of $372000 and accounts receivable of $50400 and $18000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.) 43.7 33.6 74.1 23.4 Pharoah Company had net credit sales during the year of $1407600 and cost of goods sold of $424000. The balance in accounts receivable at the beginning of the year was $115200 and at the end of the year was $190800. What was the accounts receivable turnover? 9.2 11.2 6.0 7.9

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The following information was taken from Swifty Corporation cash budget for the month of July:

Beginning cash balance   $95000
Cash receipts   91000
Cash disbursements   129000


If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is

$57000.
$38000.
$19000.
$24000.
 
 
The following information was taken from Swifty Corporation cash budget for the month of July:

Beginning cash balance   $95000
Cash receipts   91000
Cash disbursements   129000

If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is

$57000.
$38000.
$19000.
$24000.
 
The following information was taken from Swifty Corporation cash budget for the month of July:

Beginning cash balance   $95000
Cash receipts   91000
Cash disbursements   129000

If the company has a policy of maintaining an end of the month cash balance of $95000, the amount the company would have to borrow is

$57000.
$38000.
$19000.
$24000.
 

Kingbird, Inc. unadjusted trial balance includes the following balances (assume normal balances):

Accounts Receivable

$1200000

Allowances for Doubtful Accounts

$21200

Bad debts are estimated to be 6% of outstanding receivables. What amount of bad debt expense will the company record?

$73378

$49522

$72000

$50800

The financial statements of the Kingbird, Inc. report net sales of $372000 and accounts receivable of $50400 and $18000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)

43.7

33.6

74.1

23.4

Pharoah Company had net credit sales during the year of $1407600 and cost of goods sold of $424000. The balance in accounts receivable at the beginning of the year was $115200 and at the end of the year was $190800. What was the accounts receivable turnover?

9.2

11.2

6.0

7.9

 

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