Question;Financial & Managerial Accting MBA-560-Problem 1. The following information applies to Barnhart Company;Additional information;Net Credit Sales = $220,000Beginning Accounts Receivable = $10,000Required;1) Compute Barnhart's;a) Quick ratio;b) Current ratio;c) Working capital;d) Accounts receivable turnover;e) Average days to collect receivables;Problem 2. The Jiffy Manufacturing Company started operations in 2012;when it acquired $100,000 from its owners. During the year, the company;incurred the following costs;The company placed 12,000 units into production, completed 10,000 units, and;sold 8,000 units. The average selling price was $17 per unit.;Required;1) Prepare a schedule of cost of goods manufactured and sold for the year ended;December 31, 2012.;2) Prepare an income statement for the year ended December 31, 2012.
Paper#45477 | Written in 18-Jul-2015Price : $27