What average age of account receivable is forecast for the budget period? (Use the following data...
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What average age of account receivable is forecast for the budget period? (Use the following data to answer this question.) BALANCE SHEETS 12/32/20X2 ASSETS CASH 12/31/20X3 $50,000 $40,000 ACCOUNT RECEIVABLE 80,000 120,000 OTHER CURRENT ASSETS 30,000 15,000 TOTAL CURRENT ASSETS OTHER ASSETS (NET) TOTAL ASSETS EQUITIES ACCOUNT PAYABLE $25,000 TAX PAYABLE 5,000 NOTES PAYABLE 25,000 TOTAL CURRENT LIABILITIES LONG TERM DEBT CAPTIAL STOCK RETAINED EARNINGS NET WORKTH TOTAL EQUITIES 50,000 20,000 150,000 25,000 $175,000 55,000 50,000 70,000 $175,000 $35,000 5,000 20,000 50,000 30,000 185,000 20,000 $205,000 60,000 65,000 80,000 $205,000 20X3 MONTLY & ANNUAL INCOME STATEMENTS NOVEMBER DECEMBER $54,000 $45,000 10,000 10,250 30,500 23,500 40,500 टें 33,750 13,500 11,250 1,080 900 1,620 1,350 2,700 2,250 8,000 8,000 3,000 3,000 11,000 11,000 13,700 13,250 -$200 -$2,000 EARNINGS COST OF CONSTRUCTION LABOR MATERIALS TOTAL DIRECT COST GROSS MARGIN VARIABLE OPER. EXPENSE AUTO AND TRUCK INDIRECT LABOR TOTAL VARIABLE OPER. EXP. FIXED OPER. EXPENSE SALARIES OTHER TOTAL FIXED OPER. EXPENSE TOTAL OPER. EXPENSE NET PROFIT A) 60 days B) 15 days C) 30 days FULL YEAR 122,000 334,000 12,160 18,240 96,000 36,000 $608,000 456,000 152,000 30,400 132,000 162,400 -$10,400 A) 60 days B) 15 days C) 30 days D) 45 days What average age of account receivable is forecast for the budget period? (Use the following data to answer this question.) BALANCE SHEETS 12/32/20X2 ASSETS CASH 12/31/20X3 $50,000 $40,000 ACCOUNT RECEIVABLE 80,000 120,000 OTHER CURRENT ASSETS 30,000 15,000 TOTAL CURRENT ASSETS OTHER ASSETS (NET) TOTAL ASSETS EQUITIES ACCOUNT PAYABLE $25,000 TAX PAYABLE 5,000 NOTES PAYABLE 25,000 TOTAL CURRENT LIABILITIES LONG TERM DEBT CAPTIAL STOCK RETAINED EARNINGS NET WORKTH TOTAL EQUITIES 50,000 20,000 150,000 25,000 $175,000 55,000 50,000 70,000 $175,000 $35,000 5,000 20,000 50,000 30,000 185,000 20,000 $205,000 60,000 65,000 80,000 $205,000 20X3 MONTLY & ANNUAL INCOME STATEMENTS NOVEMBER DECEMBER $54,000 $45,000 10,000 10,250 30,500 23,500 40,500 टें 33,750 13,500 11,250 1,080 900 1,620 1,350 2,700 2,250 8,000 8,000 3,000 3,000 11,000 11,000 13,700 13,250 -$200 -$2,000 EARNINGS COST OF CONSTRUCTION LABOR MATERIALS TOTAL DIRECT COST GROSS MARGIN VARIABLE OPER. EXPENSE AUTO AND TRUCK INDIRECT LABOR TOTAL VARIABLE OPER. EXP. FIXED OPER. EXPENSE SALARIES OTHER TOTAL FIXED OPER. EXPENSE TOTAL OPER. EXPENSE NET PROFIT A) 60 days B) 15 days C) 30 days FULL YEAR 122,000 334,000 12,160 18,240 96,000 36,000 $608,000 456,000 152,000 30,400 132,000 162,400 -$10,400 A) 60 days B) 15 days C) 30 days D) 45 days
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Related Book For
Small Business Management Launching & Growing Entrepreneurial Ventures
ISBN: 978-1133947752
17th edition
Authors: Justin Longenecker, William Petty, Leslie Palich, Frank Hoy
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