The current assets of Mayon Enterprise consists of cash, accounts receivable, and inventory. The following information is available: Credit sales 75% of total sales Inventory turnover Working capital P1,120,000 Current ratio 2.00 to 1 Quick ratio 1.25 to 1 Average Collection period 42 days Working days 360 5 times The estimated inventory amount is: 840,000 O 600,000 720,000 550,000
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- Data needed: SFP Asset section 1. Cash 16.3% 2. AR 6.3% 3. Short term investment 0.2% 4. Inventory 2.2% 5. Prepaid expenses 0.4% 6. PPE 74.7% Data needed: SFP Liabilities and OE section. 1. Current liab 16% 2. Non-current liab 34.2% 3. OE 49.9% Data needed: SCI 1. COGS 38.6% 2. Selling and admin exp 6.8% 3. Interest exp 0.1% 4. Income tax exp 0.5% 5. Net income 54%Worksheet chapter 9 Assets 2,980,000 Liabilities 1,250,000 Inventory 1,410,000 Sales 5,000,000 Avg Inventory 1,500,000 Accounts Receivable 1,320,000 Debt 1,000,000 Given the data above, provide the following calculations: Debt ratio Total asset turnover Receivables turnover Inventory turnover Quick ratio Current ratio Given the above data, construct a balance sheetQuestion 1 The following information represent Mooncake Corporation Details Sales Cash Inventory Current liabilities Asset turnover Current ratio Debt to asset ratio Receivables turnover Calculate the following items: a. Accounts receivables b. Fixed asset c. Long Term Debt d. Debt to Asset Ratio RM 3,549,000 179,000 911,000 788,000 1.40 2.95 times 40% 7 times
- Accounts receivable (gross) Inventory Total current assets Total current liabilities Credit sales Cost of goods sold Current ratio Receivables turnover Inventory turnover 2021 1.000.000 $850,000 $750,000 $650,000 1.020,000 980,000 840,000 2,100,000 2,000,000 1,700,000 1.100.000 1,250,000 6.420.000 6.240,000 5.430.000 4,540,000 4,550,000 3,950,000 (b) Based on (1) current ratio, (2) receivables turnover ratio, and (3) inventory turnover ratio, what conclusion(s) can be drawn about the company's liquidity? 2021 21:1 2020 8.0 times 4.5 times 2020 2019 18:1 8.9 times 5.0 times.TB SA Qu. 16-59 (Static) Complete: Complete: Current Assets Cash Accounts receivable Prepaid rent Merchandise inventory Total current assets $ Amount $ $ $ 12,000 9,000 5,000 28,000 Round to Nearest Hundredth Percent % % % % 100 %COMPUTE FOR DAY SALES OUTSTANDING RATIO GIVEN ASSETS Current Assets Cash and cash equivalents ₱ 345,929,975 Receivables - net 228,360,959 Notes receivable 195,007,214 Inventories 33,918,796 Due from related parties - current portion 1,602,120,064 revenue 2,104,932,423
- 6. HARANGUE INFLATED SPEECH Co. had the following information for 20x1: Accounts receivable turnover 10:1 Total assets turnover 2:1 Average receivables during the year Total assets, January 1, 20x1 P400,000 800,000 How much is the total assets as of December 31, 20x1? a. 4,000,000 b. 3,800,000 с. 3,200,000 d. 2,800,000Complete: Current Assets Amount Round to Nearest Hundredth Percent Cash $12,000 % Accounts receivable $9,000 % Prepaid rent $5,000 % Merchandise inventory $28,000 % Total current assets 100 %Turnover: $200 000,00 Cost of sales: $140 000,00 Profit before interest and tax: $12 000,00 Accounts receivable: $16 500,00 Accounts payable: $13 000,00 Inventory: $18 750,00 Bank/ (Overdraft): $4 000,00 Calculate Accounts receivable collection period Inventory holding period. Accounts payable payment period Current ratio Acid test ratio
- Q.6 Analysis of Financial Statement: Cash $77.500; Receivable $336.000; Inventory $241,500: Fixed Asset $292.500 Account Payable $129,000; Note Payable $84,000: Other current liabilities $117.000; Long term Debt $256,500; Common equity $361,000 Compute i. Working capital ii. Current ratio iii. Quick ratio iv. Receivable turnover, where credit sales were Rs.1600,000 v. Inventory turnover where cost of goods sold Rs 1300,000 END OF EXAM PAPER FUUASUS Kiumel, finamclal Accounting, Se Hele I Syotem Aenouncements CALLAT Briel Exercise 8-11 he 20117 financial staternents of 3M Company report net sales of $25.3 billion. Accounts receivable (net) are $3.00 billion at the beginning of the year and $3.24 billion at the cde Compute 3M Company's receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio times SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period days Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 3 usecGiven the following data; TOTAL SALES OMR 250000 CASH SALES OMR 125000 SALES RETURN OMR 5000 OPENING SUNDRY DEBTORS OMR 20000 CLOSING SUNDRY DEBTORS OMR 10000What will be the Net credit sales? O a. OMR 120000 O b. OMR 245000 O c. OMR 125000 O d. OMR 200000