Entries by mary WAMBUGU

Common stock account for Aco on January 1, 2018 was $45,000. On July 1, 2018 Aco issues an additional 10,000 shares of common stock.

August 22, 2019 in /by

Given:Common stock account for Aco on January 1, 2018 was $45,000. On July 1, 2018 Aco issues an additional 10,000 shares of common stock. Common Stock is $5 par. There was neither Preferred Stock not any Treasury Stock. Paid in Capital Excess to par Common Stock was $20,000 on January 1 and $40,000 on July […]

 

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FY 2018 Aco balance sheet included Current items Cash $20,000

August 22, 2019 in /by

Given:FY 2018 Aco balance sheet includedCurrent itemsCash $20,000Accounts receivable $130,000 Inventoried $70,000 Prepaid Expenses $12,000 Accounts payable $65,000 Accrued expenses $62,000 Determine: Current Ratio   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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FY 2018 Aco had net sales of $1,000,000 and net income of $60,000, paid income taxes of $17,000, and had before tax interest expense of $12,000

August 22, 2019 in /by

Given:FY 2018 Aco had net sales of $1,000,000 and net income of $60,000, paid income taxes of $17,000, and had before tax interest expense of $12,000 Determine: Times Interest Earned Ratio   Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”

 

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Financial information for Aco fiscal years ending 2019 and 2018 (all balances are normal) Item/Account 2019 2018

August 22, 2019 in /by

Given:Financial information for Aco fiscal years ending 2019 and 2018 (all balances are normal) Item/Account 2019 2018 Accounts Receivable $45,000 $30,000 Inventory 40,000 35,000 Net Sales (all credit) 450,000 350,000 Cost of Goods Sold 150,000 150,000 Net income 27,000 24,000 Determine: accounts receivable average collection period for FY 2019   Looking for a Similar Assignment? […]

 

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