Husky Company's revenue for March is $75,000, but only $15,000 cash is collected. Expenses for March are $41,000, of which $28,000 is paid in cash. During March, additional capital stock is issued in exchange for $5,000 cash. Using the accrual basis of accounting, Husky Company's income statement for March reports

Festivus Company has working capital of $140,680 on December 30. On December 31 it has the following transactions: An account payable for $10,000 is paid off An account receivable of $1,000 is written off (Festivus does not use the direct write-off method) $16,600 more inventory is purchased on account. If Account Payable balance on December 30th is $10,000 what is the Days Accounts Payable are outstanding? Use ending balance of AP instead of the average. Festivus' Gross profit percentage is

On September 1. Year 1, Western Company loaned $36,600 cash to Eastern Company. The one year note carried a 6% rate of interest. The amount of interest revenue on the income statement and the amount of cash flow from operating activities shown on Western's Year 2 financial statements would be Multiple Choice $732 interest revenue and $2196 cash inflow from operating activmes $1.464 imerest revenue and $2,196 cash inflow from operating activities

Festivus Company has working capital of $140,680 on December 30. On December 31 it has the following transactions: 1) An account payable for $10,000 is paid off 2) An account receivable of $1,000 is written off (Festivus does not use the direct write-off method) 3) $16,600 more inventory is purchased on account. Assume a 365 day year. Sales for the period amounted to $1,700,000 and the average mark up is 25%. Required 1: What is the working capital on December 31st after all transactions took place? $[ Required 2: The working capital turnover for the period ended on December 31st is: Required 3: If Account Payable balance on December 30th is $10,000 what is the Accounts Payable Turnover? Use ending balance of AP instead of the average. Required 4: If Account Payable balance on December 30th is $10,000 what is the Days Accounts Payable are outstanding? Use ending balance of AP instead of the average. Required 5: Festivus' Gross profit percentage is (report it as multiplied by 100 to…

Working capital: Winston Electronics reported the following information at its annual meetings. The company had cash and marketable securities worth $1,236,761, accounts payables worth $4,159,857, inventory of $7,122,108, accounts receivables of $3,488,872, notes payable worth $1,152,718, and other current assets of $121,748. What is the company’s net working capital?

Barga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $65,000; and Year 2, $123,000. a. Compute its days’ sales uncollected at the end of each year. Round the number of days to one decimal. b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?

The following data were taken from the records of Millet Corporation for the year ended December 31: Sales on account, P7,200,000; Accounts receivable written off as a result of permanentimpairment, P50,000; Notes receivable to settle accounts, P800,000; Purchases on account,P7,800,000; Payments to creditors, P6,400,000; Purchase discounts, P520,000; Sales returns,P30,000; Collections received to settle accounts, P4,900,000; Notes given to settle accounts, P500,000; Purchase returns, P140,000; Payments of notes, P200,000; Discounts taken bycustomers, P80,000; Collection on notes receivable, P360,000.   What is the carrying value of the accounts receivable on December 31?

At the end of the fiscal year, Big Box Depot had account receivables of $1.89 billion on net sales of $8.5 billion. At the same point in time, Lumber Jack Inc. had accounts receivable of $6.3 billion on net sales of $9.2 billion. Each company had cash on hand of $600,000.   Calculate the accounts receivable turnover and days' sales outstanding (DSO) for each company. Based solely on these metrics, which company reported stronger financial metrics. Explain.

Barga Company's net sales for Year 1 and Year 2 are $666,000 and $747,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $62,000; and Year 2, $95,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. b. Did days' sales uncollected improve or worsen in Year 2 versus Year 1? Complete this question by entering your answers In the tabs below. Required A Required B Complete the below table to calculate the days' sales uncollected at the end of each year. (Do not round intermediate calculations. Round your "Da Sales Uncollected" answers to 1 decimal place.) Days' Sales Uncollected Choose Denominator: Days Days' Sales Uncollected %3D Choose Numerator: Days' sales uncollected !! days Year 1: days Year 2: Required B >

Barga Company's net sales for Year 1 and Year 2 are $669,000 and $750,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $56,000; and Year 2, $91,000.a. Complete the below table to calculate the days' sales uncollected at the end of each year.b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?