FINANCIAL AND MANAGERIAL ACCOUNTING
FINANCIAL AND MANAGERIAL ACCOUNTING
9th Edition
ISBN: 9781264899180
Author: Wild
Publisher: MCG
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Chapter 7, Problem 1.2AA
To determine

Introduction: Financial ratios help in comparing the performance of the company with its previous performance as well as that of competitors in the industry. They are divided into four building blocks. These blocks are liquidity and efficiency, solvency, profitability, and market prospects.

The accounts receivable turnover of Company A as of September 28, 2019.

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Choose the correct answer and pls provide the formula A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? *a. P1,175,000.00b. P1,275,000.00c. P1,375,000.00d. P1,475,000.00e. P1,575,000.00
Following is some financial information of 250R Corp: 250 CORP Statement of Income For the years ended December 31, 2020 and 2021 Year Ended 31.12.2021 Sales Revenues Cost of Goods Sold Gross Margin Salaries expense Depreciation expense Interest expense Net income Long-term borrowings Accounts receivable Property, plant & equipment (PPE): Cost Accumulated Depreciation $750,000 (300,000) $450,000 (75,000) (70,000) (30,000) $275,000 Some Selected Balance Sheet Data As at 31.12.2021 $300.000 $525,000 $350,000 210,000 Year Ended 31.12.2020 $500,000 (200,000) $300,000 (50,000) (70,000) (30,000) $150,000 As at 31.12.2020 $300.000 $250.000 $350,000 140,000
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