Question: Question 34 Recent financial data for Kirk Corporation are provided below Income Statement Revenues Net patient service revenue $806,650 Operating Expenses Medical services Support services

 Question 34 Recent financial data for Kirk Corporation are provided below

Question 34 Recent financial data for Kirk Corporation are provided below Income Statement Revenues Net patient service revenue $806,650 Operating Expenses Medical services Support services General services Depreciation $510,000 119,000 93,700 72,300 (795,000) 11,650 Operating Income Other Income and Expenses Interest income Interest expense 36,000 36,000 Net Income $11,650 Balance Sheet (partial) Cash Net receivables Inventory Other current assets $268,000 169,000 135,000 65,000 $637,000 Total current assets Accounts payable Interest payable Other current liabilities $203,000 18,000 19,000 $240,000 Total current liabilities The company reports that 80% of its revenues were on credit. What is Days in Receivables? (Round final answer to 2 decimal places, e.g., 1.23.) 95.59 76.47 456.25 1,768.00

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!