Homework Help is Here – Start Your Trial Now!
Business
Accounting
24 - 25Sales for the year amount to PHP100.000, Accounts receivable amount to PHPT2,000. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used?

24 - 25Sales for the year amount to PHP100.000, Accounts receivable amount to PHPT2,000. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used?

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter8: Budgeting
Section: Chapter Questions
Problem 18E
See similar textbooks
icon
Related questions
Question
24 - 25Sales for the year amount to PHP100.000. Accounts receivable amount to PHPT2,000. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used? 26 - 28 The quick ratio is 1.7 while the current ratio is 2.5. The current liabilities amount to PHP5,000. Cost of goods sold is PHP52,500. What is the inventory turnover? Average age of inventory? 29 - 31. Beginning inventory is PHP2,000 while ending inventory is PHP5,000. Cost of goods sold is double the ending inventory and accounts payable is PHP4,000. What is accounts payable turnover? Average payment period? ESSAY 32 - 34. Ending inventory is PHP13,000 while accounts payable is PHP2,500. Purchases were half the ending inventory. What is accounts payable turnover? Average age of payables? 35 - 37 Current assets amount to PHP30,000 while noncurrent assets are PHP50,000, Sales amount to PHP200,000. What is the total asset turnover? 38 - 40. Based on your answers from letters c, d, and e, what is the operating cycle of the company? Casł conversion cycle?
Transcribed Image Text:24 - 25Sales for the year amount to PHP100.000. Accounts receivable amount to PHPT2,000. What is the average collection period assuming annual data are used? What is the average collection period assuming quarterly data are used? 26 - 28 The quick ratio is 1.7 while the current ratio is 2.5. The current liabilities amount to PHP5,000. Cost of goods sold is PHP52,500. What is the inventory turnover? Average age of inventory? 29 - 31. Beginning inventory is PHP2,000 while ending inventory is PHP5,000. Cost of goods sold is double the ending inventory and accounts payable is PHP4,000. What is accounts payable turnover? Average payment period? ESSAY 32 - 34. Ending inventory is PHP13,000 while accounts payable is PHP2,500. Purchases were half the ending inventory. What is accounts payable turnover? Average age of payables? 35 - 37 Current assets amount to PHP30,000 while noncurrent assets are PHP50,000, Sales amount to PHP200,000. What is the total asset turnover? 38 - 40. Based on your answers from letters c, d, and e, what is the operating cycle of the company? Casł conversion cycle?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
EBK CFIN
EBK CFIN
Finance
ISBN:
9781337671743
Author:
BESLEY
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
SEE MORE TEXTBOOKS