Prepare an income statement for the year ended 30 June 2023 from the following information. Revenue P40 000; Premises P7 500; Trade payables P10,000; Discount received P1 000; Wages and salaries P2 500; Purchases P28 000; Insurance P750; Bank loan P8 250; Rent P3 000; Trade receivables P8 600; Electricity P900; Bank P6 700; Opening inventory P1 300, and closing inventory P4500

Accounts receivable analysis. The following data are taken from the financial statement of sigmon Inc. Terms of all sales are 2/ 10, n / 45. Accounts receivable the end of the year $725,000 20y3 $ 650,000 20y2 $600,000 20y 1 Sales on account 5,637,500 20y 3 4,687,500 20y 2 A. 20y 2 and 20 y3, determine (1) the accounts receivable turnover and (2) the number of days sales in receivable. Round interim calculations to the nearest dollar final answer to one decimal place assume a 365-day year. 1. Accounts receivable turnover 20y3 2. Number of days sales in receivable 20y2 B. The collection of accounts receivable has_______ this can be seen in both the_______ in accounts receivable turnover and the_______ in the collection period.

Number 1

Jaded Corporation has the following account balances for the year-ended December 31, 2024. K In addition, the 12/31/23 balances for Accounts Receivable and Inventory are $45,000 and $95,000, respectively. dr Accounts Receivable Inventory Purchases Freight-In Purchases Discount Purchases Returns Purchase Allowances 32,000 20,000 480,000 5,000 Sales Revenue Interest Revenue Sales Returns & Allowances Sales Discounts Selling Expenses General & Administrative Exp 15,000 30,000 Other Operating Expenses Freight-Out 9,000 Interest Expense 2,000 Loss on Sale of Truck 5,000 What is the operating income for the period? OA. $1,146,000 OB. $1,167,000 OC. $1,156,000 O D. $1,176,000 $8,000 50,000 10,000 cr $ 4,000 3,000 1,000 1,850,000 1,000