Sales revenues of a utility for a certain fiscal period: a) Include billed receivables and an accrual for unbilled receivables as of the balance sheet date. b) Should be reported on the cash basis for the sake of conservatism. c) Include receivables billed during a fiscal period, plus receivables billed early in the next year if meters were read before year-end. d) Are equivalent to total debits to Customer Accounts Receivable for that period.

From the attached image, which deferred revenue do we need to consider for calculations? I can see two of them one is current and the other one is net of the current portion.

Give me right answer with proper way

Assume credit sales for 2019 were $312,000 and that on December 31, 10% of credit sales are estimated to be uncollectible. Using the percentage of sales method: Determine the amount to be charged to the uncollectible expense account. Prepare the Allowance for uncollectible account. Prepare the balance sheet extract to show the net realizable value of the Accounts Receivable as at December 31.

Given the following information, complete the balance sheet shown next Collection period Days' sales in cash Current ratio Assets Current assets: Cash Inventory turnover Liabilities to assets Payables period (All sales are on credit. All calculations assume a 365-day year. The payat Note: Round your answers to the nearest whole dollar. Accounts receivable Inventory Total current assets Net fixed assets Total assets Liabilities and shareholders equity Current liabilities: Accounts payable Short-term debt Total current liabilities 70 days 32 days 2.2 5 70% 36 days Long-term debt Shareholders equity Total liabilities and equity times $ 1,300,000 S S 1,900,000 8,000,000 2.400.000 8.000.000

What is the december 31, 2021 net realizable value?

A firm’s Balance Sheet and Income Statement for FY 2021 is displayed below and in the in the attached excel file. Answer the following questions.   NOTE: For this question, use the end-of-the year approach (and not the mid-year convention). For example, this means that days receivables = end of FY receivables/daily sales; similarly for the remaining relevant ratios.       BALANCE SHEET 2021 Cash and cash equivalents 280 Receivables 2588 Inventory 2516 Other 189 TOTAL CA 5573 Fixed assets 5024 TOTAL ASSETS 10597 Accounts payable 4713 Short term debt 78 TOTAL CL 4790 LT debt 921 Shareh. Equity 4886 TOTAL LIAB. AND SHARH. EQUITY 10597     INCOME STATEMENT 2021 Sales 19418 COGS 13136 Depreciation 354 SG&A 4952 EBIT 976 Interest  Expenses 52 Tax 268 Net income 656   Determine the managerial balance sheet for the FY 2021.

1))For the years ended December 31, 2018  of your analysis, assume all sales are on credit and then compute the following: ·       (a) collection period, ·       (b) accounts receivable turnover, ·       (c) inventory turnover, and ·       (d) days' sales in inventory. ·       (e) Based on your estimates, comment on the changes in the ratios from 2018  year by drawing conclusion regarding efficiency in managing inventory and in collecting receivables (Note: Comment not more than 10 lines). 2))Provide your recommendations for improving the financial condition of your company. (Note: Comment not more than 10 lines).

Choose the letter of answer and solution A company reports the following data relative to accounts receivable: Average accounts receivable of P400,000.00 and P416,000.00 in FYs 2021 and 2020, respectively; and Net Credit Sales of P2,600,000.00 and P3,100,000.00 in FYs 2021 and 2020, respectively. The term of sale are net 30 days. Compute the accounts receivable turnover and the collection period in FY 2021. * a. 6.5 times and 56.2 daysb. 7.45 times and 49 daysc. 7.5 times and 56.2 daysd. 6.5 times and 49 days

Mahal Mo Co. reported revenue of P3,100,000 in its accrual basis income statement for the year ended December 31, 2020. Additional information are as follows: Accounts receivable, December 31, 2019, P700,000 and Accounts receivable, December 31, 2020, P1,100,000. Under the cash basis, how much should Mahal Mo Co. report as revenue for 2020? *