Karen company's net accounts receivable were P430,000 on December 31, 19x8 and P480,000 on December 31, 19x9. Cash sales during 19x9 were P175,000. The accounts receivable turnover for 19x9 was 5. Karen Company's total sales for 19x9 were a. P3,150,000 b. P2,450,000 c. P2,275,000 d. P2,575,000   True or false When the market price of stock options, warrants, and rights is higher than the current option price, exercise might occur; therefore, there is potential dilution from these securities and they would be included in the computation of diluted earnings per share.

Q: Zips Corp reports the following: Net Credit Sales 100,000 A/R Jan 1 10,000 ADA Jan 1 1,000 A/R Dec…

A: Accounts receivable turnover ratio = Ner credit sales / Average Net accounts receivable where,…

Q: 5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at…

A: solution note dear student as per the Q&A guideline we are required to answer the first question…

Q: Pine Hardware Store had net credit sales of P6,045,000 and cost of goods sold of P5,000,000 for the…

A: Solution:- Introduction:- Accounts receivables turnover ratio measures the number of times per year…

Q: ABC reports sales of $100 million. Accounts receivable at the beginning and end of the year are S6…

A: In the given case, the amount of cash received from the customers is calculated by the addition of…

Q: B. Last year, Nikkola Company had net sales of P2,299,500, and cost of goods sold of P1,755,000.…

A: Note: Hi! Thank you for the question, As per the Honor Code of Bartleby, we are allowed to answer…

Q: Sales revenue for Bancroft was $560,000. The following data are from the accounting records of…

A: The cash collection is calculated as sales revenue plus change in receivable balance

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The accrual basis accounting records the revenue and expenses of the current period when they are…

Q: Swifty Corp. had accounts receivable pf $100k at 1/1. The only transactions affecting accounts…

A: Account receivable turnover indicates the number of times the company collected its account…

Q: Use the information in each of the following separate cases to calculate the unknown amount.

A:

Q: Gray Company had an accounts receivable balance of P50,000 on December 31, 2001, and P75,000 on…

A: Accounts Receivable at the end = Accounts Receivable in the beginning + Credit Sales during the year…

Q: 19.Timothy Corp. had accounts receivable of P 150,000 and allowance for doubtful accounts of P…

A: Given, Accounts receivable = P 150,000, Allowance for doubtful accounts = P 12,000 at the beginning…

Q: What amount should be reported as net realizable value of accounts receivable on December 31?

A: The net realizable value of accounts receivable can be ascertained as the debit balance in the asset…

Q: Flyer Company has provided the following information • Cash sales, $325,000 • Credit sales, $850.000…

A: Gross Profit is excess of Net Revenue over cost of manufacturing including all direct costs whereas…

Q: RGI Company had an accounts receivable balance of ₱45,000 on December 31, 2001, and ₱60,000 on…

A: Accounts receivable is the amount due to a firm for the use of goods and services but not yet paid…

Q: accounts payable are P1,350,000 and P1,850,000, respectively. During the current year, accounts…

A: Gross Sales of a business include cash sales as well as credit. Gross sales are the total of that…

Q: Faith Company provided the following information relating to current operations: 4,000,000 8,400,000…

A:

Q: Faith Company provided the following information relating to current operations: Accounts…

A: Accounts receivable as on year end is calculated as below: Beginning accounts receivable + Credit…

Q: Al Sharif Company's Average Accounts Receivables is OMR 360,000 and total Sales is OMR 1,200,000.…

A: Credit sale=Total sale×100-Cash sale %=OMR 1,200,000×100-40%=OMR 720,000

Q: Wall Corporation’s books disclosed the following information as of and for the year ended December…

A: Accounts receivable turnover is a measure how effectively the company is able to collect its…

Q: At the end of the fiscal year, Big Box Depot had account receivables of $1.89 billion on net sales…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

Q: y has net sales of 1,630,200 an

A: The accounts receivable turnover ratio,   also known as the debtor’s turnover ratio, is an…

Q: Bane Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its…

A: Cash collected from customers for the year = opening accounts receivable balance + sales - ending…

Q: For the month of December, the records of Scrooge Corporation show the following information: Cash…

A: Here in this question, we are require to calculate gross sales for the month of December. In this…

Q: Light Co.’s accounts receivable balances at the beginning and end of the period were 80,000 and…

A: Accounts Receivable is one of the current asset of the business, which means credit sales made by…

Q: A company’s accounts receivable balance after posting net collections from customers is $150,000.…

A: Net realizable value of the accounts receivable = Accounts receivable - Allowance for doubtful…

Q: Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending…

A: The account receivables are also known by the name of debtors. These are the values due to a firm on…

Q: The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts…

A: Sales made by business can be for cash or on credit basis. Under credit basis, accounts receivable…

Q: Nicole Company has an average collection period of 52 days and accounts receivables of P250,000.…

A: Average Debtors collection period = Trade Receivables / Total Sales x 365 Days  Note : Here, No. of…

Q: Taehyung Company provided the following data: On January 1, the company’s account receivable and…

A: Net sales = Cash receipts from customers + Ending accounts receivable - Beginning accounts…

Q: The Nicholas Company had net sales on account of $6,570,000 during 1998. The beginning and ending…

A: Given the following information: Net credit sales: $6,570,000 Beginning accounts receivables:…

Q: The following data were taken from the records of Millet Corporation for the year ended December 31:…

A: Carrying value of the accounts receivable on December 31 = Sales on account - Accounts receivable…

Q: Lipovetsky Corp. has the following data relating to accounts receivable at the end of the current…

A: The net realizable value for accounts receivable is calculated as gross account receivables minus…

Q: 4.The following data were available for ABC Company at Dec 31, 20X2: Accounts Receivable, beg…

A: 1. Accounts Receivable, beg P15,000 - It is related to the prior period 2. Accounts Receivable, end…

Q: A company had net sales of $570,000, total sales of $720,000, and average accounts receivable, net…

A: Accounts receivable ratio is calculated to know how efficiently the company collects its debts…

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The cash basis system state that the revenue should be recorded when the actual amount of cash is…

Q: Below is the data provided by a company regarding its receipts and disbursements. 31-Dec 1-Jan…

A: The amount of sales generated during a period without adjusting any discount and return is known as…

Q: Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales…

A: The number of days sales in receivable indicates the number of days the credit sales converted into…

Q: The following information pertains to ABC Company for 2021: Accounts receivable, January 1, 2021…

A: Account receivables turnover ratio is calculated as Net credit sales divided by average account…

Q: Ray's beginning and ending accounts receivable balances are $147,990 and $142,720, respectively.…

A: Calculation of the amount of cash collections for the period:

Q: On January 1, the company’s account receivable and accounts payable were P1,200,000 and P1,500,000,…

A: Calculation of Gross Sales Gross Sales = Ending balance of Accounts Receivable + Cash Received from…

Q: ble, December 1 148,000 Accounts Receivable, December 31 160,000 Accounts Receivable written-off as…

A: For the month of December, the records of ABC Corporation show the following information:   Given…

Q: Marbel had $4,448 million in sales and $1,218 million in ending accounts receivable for the current…

A: Note: Day's sales uncollected determines the no. of days a company take to collect its receivable on…

Q: amount of net accounts receivable after adjusting entries for 20X5 would be:

A: Increase in allowance for uncollectible = Final amount of allowance for uncollectible required -…

Q: A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts…

A: Given information is: A company has net sales of $489,600 and average accounts receivable of…

Q: Dedpul Company provided the following transactions affecting accounts receivable during the current…

A: The account receivable is referred to as the amount that a company is yet to received from its…

Q: ABC Corp had accounts receivable of P150,000 and allowance for bad debts of P12,000 at Jan 1. During…

A: Credit sales = P1,000,000 x 60% = P600,000

Q: Blue Air Inc., has net sales of $767,000 and accounts receivables of $162,000. What are the firm's…

A: We have the following information: Net Sales: $767,000 Accounts Receivables: $162,000