The following information is taken from PT Wealthy Day's financial statements for 2015: Sales: Rp 500,000,000 Cost Of Sales: Rp 300,000,000 The comparative statements of financial position for certain accounts show the following balances: 31 December 2015 31 December 2014 Account Receivable 30.000.000 43.000.000 Merchandise Inventory 50.000.000 42.000.000 Account Payable 56.000.000 59.400.000 Using the direct method, calculate the amount of cash received from customers in 2015: a. Rp 487.000.000 b. Rp 513.000.000 c. Rp 470.000.000 d. Rp 543.000.000

The following information is taken from PT Wealthy Day's financial statements for 2015: Sales: Rp 500,000,000 Cost Of Sales: Rp 300,000,000 The comparative statements of financial position for certain accounts show the following balances: 31 December 2015 31 December 2014 Account Receivable 30.000.000 43.000.000 Merchandise Inventory 50.000.000 42.000.000 Account Payable 56.000.000 59.400.000 Using the direct method, calculate the amount of cash received from customers in 2015: a. Rp 487.000.000 b. Rp 513.000.000 c. Rp 470.000.000 d. Rp 543.000.000

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 56P: The following selected information is taken from the financial statements of Arnn Company for its...

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The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
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