INTERMEDIATE ACCOUNTING WPNG MULTI-S
17th Edition
ISBN: 2818440096532
Author: Kieso
Publisher: WILEY
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Not use ai solution please solve this question general accounting
Financial Account
A manufacturing company reports the following
financial data:
• Current Assets: $12,500
• Accounts Receivable: $6,200
• Cash: $3,500
• Inventories: $2,400
• Sales (all credit): $30,000
• Cost of Goods Sold: $24,000
• Total Current Liabilities: $11,500
Compute the Current Ratio, Quick Ratio, Inventory
Turnover, Fixed Asset Turnover, and Debt Ratio.
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- Give me solution this question general accountingarrow_forwardSatya Enterprises reported the cost of goods sold on its incomearrow_forwardBlaze Corporation's liability account balances at August 31, 2023, included an 8% note payable. The note is dated November 1, 2021, and carried an original principal amount of $750,000. The note is payable in three equal annual payments of $250,000 plus interest. The first interest and principal payment was made on November 1, 2022. In Blaze Corporation's August 31, 2023, balance sheet, what amount should be reported as Interest Payable for this note? (Round your answer to nearest number if needed) A) $12,500 B) $25,000 C) $33,333 D) $40,000arrow_forward
- A company had expenses other than the cost of goods sold of $280,000. Determine sales and gross profit given that the cost of goods sold was $120,000 and net income was $180,000. A. Sales: $580,000; Gross Profit: $60,000 B. Sales: $580,000; Gross Profit: $460,000 C. Sales: $460,000; Gross Profit: $580,000 D. Sales: $400,000; Gross Profit: $180,000 E. Sales: $400,000; Gross Profit: $60,000arrow_forwardSUBJECT: GENERAL ACCOUNTINGarrow_forwardGet correct solution and accountingarrow_forward
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