Question;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#49508 | Written in 18-Jul-2015Price : $25