Eilish Company had the following account balances. Accounts Payable $ 821 Accounts Receivable $ 1953 Cash $ 4730 Common Stock $ 1702 Deferred Revenue $ 1475 Eilish was missing the account balance for retained earnings. What is Eilish's balance in retained earnings?
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Eilish Company had the following account balances. Accounts Payable $ 821
Eilish was missing the account balance for |
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- The financial data for A Company is the following: Balance sheet data (in $ millions) at 12/31 Accounts receivable Less: allowance for doubtful accounts Accounts receivable (net) Income statement data, year ending 12/31 Net sales (assume all on credit) Uncollectible accounts expense 2021 $ 500 150 350 2020 $ 450 140 310 $33,400 $21,500 100 110 1. Compute the accounts receivable turnover ratio for 2021 and 2020. 2. Wat amount of accounts receivable was collected in 2021? 3. How much was the write off of uncollectible accounts in 2021? 2019 $410 160 250 $19,200 951. The following account balances were extracted from the accounting records of Macy Corporation at the end of the year:Accounts Receivable $1,100,000Allowance for Uncollectible Accounts (Credit) $37,000Uncollectible-Account Expense $63,000What is the net realizable value of the accounts receivable? Select one:A. $1,163,000B. $1,137,000C. $1,100,000D. $1,063,000 Please show all steps.45) Based on the following information from a business's financial statements, what amount of accounts receivable change was attributed to sales Sales Ending account receivable a. $37.00 b. $40.00 c. $44.40 d. $48.00 Year 1 ($) 4,440 500 Year 2 ($) 4,795 600
- The following account balances were extracted from the accounting records of A and D Corporation: Accounts Receivable $280,000 Uncollectible Account Expense $45,000 Allowance for Uncollectible Accounts $35,000 What is the net realizable value of the accounts receivable? $280,000 O $270,000 O $200,000 O $245,000 O $235,000The following items are reported on a company's balance sheet: $212,700 90,200 252,800 196,700 278,400 Cash Marketable securities Accounts receivable Inventory Accounts payable Determine the (a) current ratio, and (b) quick ratio. Round your answers to one decimal place. a. Current ratio b. Quick ratioA company has the following account balances. Which statement is correct concerning these balances? Beginning Ending Balance. Balance $ 16,400 Account Accounts receivable Accounts payable Inventory Long-term debt Common stock Multiple Choice 20,300 63,600 127,500 125,800 212,400 215,900 Accounts receivable is a $1,400 source of cash. $ 17,800 24,400 60,100 O Common stock is a $3.500 source of cash. Net working capital, excluding cash, is a $6,100 use of cash.
- The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1Accounts receivable, end of year $ 725,000 $ 650,000 $600,000Sales on account 5,637,500 4,687,500a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days’ sales in receivables. Round to the nearest dollar and one decimal place.b. What conclusions can be drawn from these data concerning accounts receivable and credit policies?Brickman’s ending balance of Accounts Receivable is $19,500. Use the data in the preceding question to compute the net realizable value of Accounts Receivable at year-end. $16,800 $19,500 $17,400 $17,900
- The general ledger of Zips Storage at January 1, 2021, includes the following account balances: Accounts Debits Credits $ 26,680 Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue 17,480 16,88e 168, 08e $ 8,700 7,80e 163, e00 48,500 Conmon Stock Retained Earnings Tatals $228, 080 $228, 000 The following is a summary of the transactions for the year: 9 Provide storage services for cash, $154,100, and on account, $62, 200. 1. Зaпиагy 2. February 12 Collect on accounts receivable, $53,508. 3. April 4. May 5. July 6. September 10 Pay on accounts payable, $13,408. 7. October 8. Novenber 20 Issue shares of comman stock in cxchange for $47,000 cash. 9. Decenber 38 Pay $4,880 cash dividends to stockholders. 25 Receive cash in advance from custoners, $14,98e. 6 Purchase supplies on account, $13, 200. 15 Pay property taxes, $1e,5ee. 31 Pay salaries, $143,60e. Insurance expired during the year is $9,000. Supplies remaining on hand at the end of the year equal…What is average payment period using balance sheet below? BALANCE SHEET INCOME STATEMENT ($ in millions) ($ in millions) ASSETS LIABILITIES Revenue 28,681.10 Cash & Marketable Securities 449.90 Accounts Payable 1,611.20 Cost Of Goods Sold 20,768.80 Accounts Receivable 954.80 Salaries Payable 225.20 Gross Profit 7,912.30 Inventories 3,645.20 Other Current Liabilities 1,118.80 Other Current Assets 116.60 Total Current Liabilities 2,955.20 Operating Expenses: Total Current Assets 5,166.50 Selling, General & Admin. 5,980.80 Other Liabilities 693.40 Depreciation 307.30 Machinery & Equipment 1,688.90 Operating income 1,624.20 Land 1,129.70 Total Liabilities 3,648.60 Buildings 2,348.40 Interest - Depreciation (575.60) SHAREHOLDER'S EQUITY Other Expense (Income) (13.10) Property, Plant & Equip. - Net…Fill in the Balance Sheet. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Sales $6544 Total Assets Turnover Current Ratio Quick Ratio 0.36 Current Liabilities to Stockholders Equity Average Collection Period (Use End of Year 10 0.8 AR) Total Debt Ratio Cash Accounts Receivables Inventory Assets Total Current Asset Total Net Fixed Assets Total Assets 000 4.6 3.7 3 1422.61 Balance Sheet Liabilities & Equity Accounts Payable Total Current Liabilities Long-Term Debt Total Liabilities Total Shareholders Equity Total Liabilities and Equity 102.43 1035.66 1138.09 284.52