4G+2:36 PM5.6KB/s ll8100:55:00 RemainingMultiple ChoiceCompute for the following:The average age of accountsreceivable for 201B (use 360 days):1 attachmentAs of December 31201B201ACash80,000640,000Notes and accounts receivable, net400,0001,200,000Merchandise inventory720,0001,200,000Marketable securities- short-term240,00080,000Land and buildings, net2,720,0002,880,000Bonds payable- long term2,160,0002,240,000Accounts payable- trade560,000880,000Notes payable- short-term160,000320,000For the year ended December 31201B201ACalos 2no anch ono crodit selec)10 400 000D10 200 o0019.57 days19.57 months0.05 daysO 18.40 days16 of 20レ 4G+2:36 PM ě0.0KB/s L l81Fin Man 3.jpgFollowing are selected financial and operating data taken from the financial statementsof ABC Corporation:As of December 31201B201ACash80,000 P640,000Notes and accounts receivable, net400,0001,200,000Merchandise inventory720,0001,200,000Marketable securities- short-term240,00080,000Land and buildings, net2,720,0002,880,000Bonds payable- long term2,160,0002,240,000Accounts payable- trade560,000880,000Notes payable- short-term160,000320,000For the year ended December 31201B201ASales (20% cash, 80% credit sales)P18,400,000P19,200,000Cost of goods sold8,000,00011,200,000II

Sales revenue is the amount of income that is generated by selling the company's mainline product.…

Compute for the following: The average age of accounts receivable for 201B (use 360 days): 1 attachment As of December 31 201B 201A Cash 80,000 P 640,000 Notes and accounts receivable, net 400,000 1,200,000 Merchandise inventory 720,000 1,200,00 Marketable securities- short-term 240,000 80,000 Land and buildings, net 2,720,000 2,880,000 Bonds payable- long term 2,160,000 2,240,000 Accounts payable- trade 560,000 880,000 Notes payable- short-term 160,000 320,000 For the year ended December 31 201B 201A

Compute for the following: The average age of accounts receivable for 201B (use 360 days): 1 attachment As of December 31 201B 201A Cash 80,000 P 640,000 Notes and accounts receivable, net 400,000 1,200,000 Merchandise inventory 720,000 1,200,00 Marketable securities- short-term 240,000 80,000 Land and buildings, net 2,720,000 2,880,000 Bonds payable- long term 2,160,000 2,240,000 Accounts payable- trade 560,000 880,000 Notes payable- short-term 160,000 320,000 For the year ended December 31 201B 201A

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 18MCQ

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