Entries by mary WAMBUGU

For the FY 2016, Alpha Company’s balance sheet included the following current items: cash $50,000, accounts receivable $170,000, inventories $100,000,

August 27, 2019 in /by

For the FY 2016, Alpha Company’s balance sheet included the following current items: cash $50,000, accounts receivable $170,000, inventories $100,000, prepaid expenses $25,000, accounts payable $90,000, and accrued expenses $70,000.  Use this information to determine the: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter […]

 

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For the FY 2016, Alpha Company had net sales of $950,000 and net income of $55,000, paid income taxes of $25,000, and had before tax interest expense of $10,000.

August 27, 2019 in /by

For the FY 2016, Alpha Company had net sales of $950,000 and net income of $55,000, paid income taxes of $25,000, and had before tax interest expense of $10,000. Use this information to determine the: (Round & enter your answers to one decimal place and enter the value.) Show your work! 1. Times Interest Earned […]

 

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The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400

August 27, 2019 in /by

The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Item/Account 2017 2016 Accounts Receivable $9,800 $9,400 Inventory 25,000 16,000 Net Sales (all credit) 80,000 71,000 Cost of Goods Sold 49,000 52,000 Net Income 7,200 6,900 Use this information to determine for FY 2017: (Round & enter […]

 

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Alpha’s net accounts receivable were $500,000 at December 31, 2015, and $600,000 at December 31, 2016. Net cash sales for 2016 were $300,000.

August 27, 2019 in /by

Alpha’s net accounts receivable were $500,000 at December 31, 2015, and $600,000 at December 31, 2016.  Net cash sales for 2016 were $300,000.  The accounts receivable turnover for 2016 was 5.5.  Use this information to determine the Fiscal Year 2016: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar […]

 

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