Sun Corp. reported the following information for 2018 and 2019. 2018 2019 Accounts receivable $150 000...

Sun Corp. reported the following information for 2018 and 2019. 2018 2019 Accounts receivable $150 000 $120 000 Prepaid expenses 9 000 10 000 Accounts payable 65 000 80 000 Salaries payable 12 000 5 000 Income (profits or more correctly total comprehensive income) 200 000 Depreciation expense 14 000 Gain on sale of equipment 6 000 If Sun Corp. uses the indirect method to prepare the operating activities section of the statement of cash flows, what amount will be reported as net cash inflow from operating activities for 2019? Group of answer choices d. $247 000 a. $232 000 b. $215 000 c. $245 000

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ekkarill92 answered 2 years ago

UV Corporation reported year-end balances in the following accounts: 2018 2019 Accounts receivable $400 $600 Inventories...

UV Corporation reported year-end balances in the following accounts: 2018 2019 Accounts receivable $400 $600 Inventories 300 900 Accounts payable 200 800 Sales Revenue was $12,000 and cost of goods sold was $10,000 during 2019. What was the amount of cash paid to suppliers?

7) The following information is from Carter Corp.’s year-end financial statements.: Cash $150 Accounts Receivable $175...

7) The following information is from Carter Corp.’s year-end financial statements.: Cash $150 Accounts Receivable $175 Short-Term Investments $300 Prepaid Expenses $75 Land $1,000 Equipment $950 Accumulated Depreciation $625 Accounts Payable $275 Salaries Payable $25 Interest Payable $100 Long-Term Notes Payable $300 Long-Term Loans Payable $400 Total Revenues $2,500 a) Calculate Carter’s current ratio, quick (acid test) ratio, and days’ sales ratio for the year. (Last year Carter’s accounts receivables were $225.) b) Last year, Carter’s current ratio was 2,...

The following information is from Carter Corp.’s year-end financial statements.: Cash $150 Accounts Receivable $175 Short-Term...

The following information is from Carter Corp.’s year-end financial statements.: Cash $150 Accounts Receivable $175 Short-Term Investments $300 Prepaid Expenses $75 Land $1,000 Equipment $950 Accumulated Depreciation $625 Accounts Payable $275 Salaries Payable $25 Interest Payable $100 Long-Term Notes Payable $300 Long-Term Loans Payable $400 Total Revenues $2,500 a) Calculate Carter’s current ratio, quick (acid test) ratio, and days’ sales ratio for the year. (Last year Carter’s accounts receivables were $225.) b) Last year, Carter’s current ratio was 2, Carter’s...

At December 31, 2018, the Accounts Receivable balance of GPC Technology is $ 225 comma 000....

At December 31, 2018, the Accounts Receivable balance of GPC Technology is $ 225 comma 000. The Allowance for Bad Debts account has a $ 17 comma 060 debit balance. GPC Technology prepares the following aging schedule for its accounts receivable: LOADING...(Click the icon to view the aging schedule.) Read the requirementsLOADING.... Requirement 1. Journalize the year-end adjusting entry for bad debts on the basis of the aging schedule. Show the T-account for the Allowance for Bad Debts at December...

This information is available for Bramble Corp. for 2018, 2019, and 2020. 2018 2019 2020 Beginning...

This information is available for Bramble Corp. for 2018, 2019, and 2020. 2018 2019 2020 Beginning inventory $ 115,000 $ 314,500 $ 411,500 Ending inventory 314,500 411,500 477,000 Cost of goods sold 901,000 1,126,000 1,301,000 Sales revenue 1,208,000 1,599,500 1,892,500 a) Calculate inventory turnover for Bramble Corp. for 2018, 2019, and 2020. (Round answers to 2 decimal places, e.g. 1.52.) b) Calculate days in inventory for Bramble Corp. for 2018, 2019, and 2020. (Round answers to 1 decimal place, e.g....

Amber Corp. – Accounting for Accounts Receivable (all dollar values are in 000’s). On December 31,...

Amber Corp. – Accounting for Accounts Receivable (all dollar values are in 000’s). On December 31, 2015 Amber Co. reported "Accounts Receivable, net realizable value" of $5,440 on their balance sheet and "Allowance for Uncollectible Accounts" of $325 in their footnotes. Thus, the gross amount of accounts receivable is $5,765. The company's sales grew dramatically in 2016, and the total credit sales, net of returns were $96,755. They collected cash from customers on account of $86,775. The company wrote off...

JPJ Corp has sales of $ 1.14 million, accounts receivable of $ 53 comma 000, total...

JPJ Corp has sales of $ 1.14 million, accounts receivable of $ 53 comma 000, total assets of $ 5.11 million (of which $ 2.92 million are fixed assets), inventory of $ 147 comma 000, and cost of goods sold of $ 604 comma 000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory turnover? If JPJ Corp is able to increase sales by 11.7 % but keep its total and fixed asset growth to only...

The following information comes from the 2019 Annual Report of the Cola Company: Accounts Receivable at...

The following information comes from the 2019 Annual Report of the Cola Company: Accounts Receivable at 1/1/19 $ 3,141 Allowance for Uncollectible Acconts at 1/1/19 51 2019 Sales (assume all were on credit) 30,990 2018 Collections of cash from customers 30,289 Write off of Customer Accounts 22 2019 estimate of Uncollectible Accounts 26 Required: Prepare t-accounts showing how the above activity flows through the Cola Company's accounts. MAKE SURE TO SHOW THE ENDING BALANCE (Label "Balance"FOR EACH ACCOUNT) Then answer...

Calculate the 2019 accounts receivable turnover for Acme Inc. based on the following information (round to...

Calculate the 2019 accounts receivable turnover for Acme Inc. based on the following information (round to 2 decimals) 2019 2018 Net sales $2,000,000 $1,800,000 Accounts Receivable $250,000 $260,000 Allowance 4 bad debit $7500 $7800

ABC Company reported the following account balances at December 31, 2019: Accounts receivable ......... $33,000 Equipment...

ABC Company reported the following account balances at December 31, 2019: Accounts receivable ......... $33,000 Equipment ................... $47,000 Notes payable ............... $15,000 Utilities expense ........... $23,000 Dividends ................... $18,000 Trademark ................... $16,000 Retained earnings ........... $58,000 (at January 1, 2019) Rental revenue .............. $19,000 Land ........................ ? Cost of goods sold .......... $36,000 Supplies .................... $21,000 Accumulated depreciation .... $11,000 Income tax expense .......... $12,000 Common stock ................ $94,000 Copyright ................... ? Utilities payable ........... $13,000 Sales revenue ............... $90,000...

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