10) On July 1, 2018, Alpha Company purchased inventory from its Japanese supply source. Terms of sale were 100,000 yen, due 30 days from the date of purchase. On July 30, 2018, Alpha paid for the supplies purchased on July 1. The exchange rate for the yen was $0.01 on the date of purchase, and $0.0097 […]
11) For the FY 2016, Alpha Company’s balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid expenses $20,000, 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 […]
The question is below and attached to have a better view of the table ATTACHMENT PREVIEW Download attachment HW2 Question 12.jpg The following financial information isfor Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal): Net Sales (all credit) 85.000 Cost of Goods Sold 62,000 m Use this information to […]
The question is below and attached for a better view of the table. The following information is related to Alpha Company’s fiscal year 2017. Income Statement: Net Income $300,000 Depreciation Expense 50,000 Gain on Sale of Plant Assets 10,000 Interest Expense 500 Balance Sheet – 12/31/17: Increase (Decrease) Accounts Payable ($4,000) Plant Assets – Purchased 250,000 Plant Assets – Disposals (100,000) Additional Information: […]
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