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92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000 BreakEven's average days of inventory (round to the nearest day) 100,000 80,000 650,000 675,000 Current Liabilities Accounts Receivable Inventories, Beginning Net Sales Cash Sales Cost of Goods Sold Purchases a. 28 days b. 33 days C. 35 days d. 44 days 93. The times interest earned ratio of Creek Company is 5 times. The interest expense for the year was P25, 000, and the company's tax rate is 30%. The company's net income is: a. P30,000 b. P100,000 C. P70,000 d. P87,500

92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000 BreakEven's average days of inventory (round to the nearest day) 100,000 80,000 650,000 675,000 Current Liabilities Accounts Receivable Inventories, Beginning Net Sales Cash Sales Cost of Goods Sold Purchases a. 28 days b. 33 days C. 35 days d. 44 days 93. The times interest earned ratio of Creek Company is 5 times. The interest expense for the year was P25, 000, and the company's tax rate is 30%. The company's net income is: a. P30,000 b. P100,000 C. P70,000 d. P87,500

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 12RE: Given the following year-end information, compute Greenwood Corporations basic and diluted earnings...
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and 50,000 shares of noncumulative and nonconvertible preferred stock issued and outstanding. KEven's account receivable turnover ases Met Chudit Jal en =Mep raley Cosh a. 11 times (b,) 9.5 times C. 17.6 times d. 15.2 times 92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000 BreakEven's average days of inventory (round to the nearest day) 100,000 80,000 650,000 675,000 Current Liabilities Accounts Receivable Inventories, Beginning Net Sales Cash Sales Cost of Goods Sold Purchases a. 28 days b. 33 days C. 35 days d. 44 days 93. The times interest earned ratio of Creek Company is 5 times. The interest expense for the was P25, 000, and the company's tax rate is 30%. The company's net income is: year a. Р30,000 b. P100,000 C. P70,000 d. P87,500 On December 31, 2009 and 2010, Chancellor Corporation had 100,000 shares of common e 94. Additional information: Stockholders' equity at 12/31/10 andod 11(31(10 P1.500. 000
Transcribed Image Text:and 50,000 shares of noncumulative and nonconvertible preferred stock issued and outstanding. KEven's account receivable turnover ases Met Chudit Jal en =Mep raley Cosh a. 11 times (b,) 9.5 times C. 17.6 times d. 15.2 times 92. BreakEven Corporation Selected Financial Data Current Assets 180,000 50,000 880,000 120,000 BreakEven's average days of inventory (round to the nearest day) 100,000 80,000 650,000 675,000 Current Liabilities Accounts Receivable Inventories, Beginning Net Sales Cash Sales Cost of Goods Sold Purchases a. 28 days b. 33 days C. 35 days d. 44 days 93. The times interest earned ratio of Creek Company is 5 times. The interest expense for the was P25, 000, and the company's tax rate is 30%. The company's net income is: year a. Р30,000 b. P100,000 C. P70,000 d. P87,500 On December 31, 2009 and 2010, Chancellor Corporation had 100,000 shares of common e 94. Additional information: Stockholders' equity at 12/31/10 andod 11(31(10 P1.500. 000
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