Please help me answer this sample problems. Brew Ha Coffee Shop had the following data from its December 31, 2021 financial statements:CashAccounts Receivable123,000.00Pag-ibig PayableWithholding Tax PayableNotes Payable due June 2019Notes Payable due June 2020Cash Sales14,300.0038,500.0034,000.00Marketable Securities15,000.0010,000.00InventoryPrepaid InsuranceAccounts PayableSSS PayablePhil Health Payable32,200.0050,000.0012,000.00285,000.0078,000.00Credit Sales290,000.0023,000.0012,000.00Cost of Sales209,100.00The firm had Php. 37,500 for its accounts receivable and Php. 34,000 for the inventory on January 1. What isthe firm's: (2 points each)1. Total Current Assets?6. Acid Test/Quick Assets Ratio?7. Inventory turnover?8. Number of days in inventory? (use 360 days)9. Receivable turnover?10. Number of days in receivable? (use 360 days)2. Total Current iabilities?3. Working Capital?4. Current Ratio?5. Total Quick assets?

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Brew Ha Coffee Shop had the following data from its December 31, 2021 financial statements: 123,000.00 38,500.00 15,000.00 32,200.00 Cash Accounts Receivable Pag-ibig Payable withholding Tax Payable Notes Payable due June 2019 Notes Payable due June 2020 Cash Sales 14,300.00 34,000.00 Marketabie Securities 10,000.00 50,000.00 Inventory Prepaid insurance Accounts Payable SSS Payable Phi Health Payable 12,000.00 285,000.00 290,000.00 78,000.00 Credit Sal es 23,000.00 12,000.00 Cost of Sales 209,100.00 The firm had Php. 37,500 for its accounts receivable and Php. 34,000 for the inventory on January 1. What is the firm's: (2 points each) 1. Total Current Assets? 2. Total Current iabilities? 3. Working Capital? 4. Current Ratio? 5. Total Quick assets? 6. Acid Test/Quick Assets Ratio? 7. Inventory turnover? 8. Number of days in inventory? (use 360 days) 9. Receivable turnover? 10. Number of days in receivable? (use 360 days)

Brew Ha Coffee Shop had the following data from its December 31, 2021 financial statements: 123,000.00 38,500.00 15,000.00 32,200.00 Cash Accounts Receivable Pag-ibig Payable withholding Tax Payable Notes Payable due June 2019 Notes Payable due June 2020 Cash Sales 14,300.00 34,000.00 Marketabie Securities 10,000.00 50,000.00 Inventory Prepaid insurance Accounts Payable SSS Payable Phi Health Payable 12,000.00 285,000.00 290,000.00 78,000.00 Credit Sal es 23,000.00 12,000.00 Cost of Sales 209,100.00 The firm had Php. 37,500 for its accounts receivable and Php. 34,000 for the inventory on January 1. What is the firm's: (2 points each) 1. Total Current Assets? 2. Total Current iabilities? 3. Working Capital? 4. Current Ratio? 5. Total Quick assets? 6. Acid Test/Quick Assets Ratio? 7. Inventory turnover? 8. Number of days in inventory? (use 360 days) 9. Receivable turnover? 10. Number of days in receivable? (use 360 days)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?
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Elegant Linens uses the balance sheet aging method to account for uncollectible debt on receivables. The following is the past-due category information for outstanding receivable debt for 2019. To manage earnings more favorably, Elegant Linens considers changing the past-due categories as follows. A. Complete each table by filling in the blanks. B. Determine the difference between total uncollectible. C. Complete the following 2019 comparative income statements for 2019, showing net income changes as a result of the changes to the balance sheet aging method categories. D. Describe the categories change effect on net income and accounts receivable.
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