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Homework answers / question archive / ALPHA MANUFACTURING COMPANY, Balance Sheet Cash and Marketable Securities $225,000 Accounts Receivable 890,000 Inventories (lower of cost or market) 930,000 Prepaid Expenses 10,150 Accumulated Tax Prepayments 12,000 Current Assets 2,067,150 Fixed Assets at Cost 2,500,000 less: Accumulated Depreciation 700,000 Net Fixed Asset 1,800,000 Investments, Long-Term 35,000 Goodwill 100,000 Total Assets $4,002,150 Bank Loans and Notes Payable $448,500 Accounts Payable 148,000 Accrued Taxes 36,000 Other Accrued Liabilities 195,500 Current Liabilities 828,000 Long-Term Debt 1,200,000 Common Stock, $1 par value 700,000 Additional Paid-in Capital 174,150 Retained Earnings 1,100,000 Total Net Worth 1,974,150 Total Liabilities and Net Worth $4,002,150 ALPHA MANUFACTURING COMPANY, Income statement Net Sales $5,200,000 less: Cost of Goods Sold 4,576,000 Gross Profit 624,000 Selling, General and Administrative Expense 750,000 Depreciation 95,000 Interest Expense 75,000 Earnings Before Taxes (296,000) Income Taxes 0 Earnings After Tax (296,000) Cash Dividends 0 Increase (decrease) in Retained Earnings ($296,000) According to these statements in Table 6-1, ALPHA's average collection period (using a 360 day year) was: ????? Select one: a

ALPHA MANUFACTURING COMPANY, Balance Sheet Cash and Marketable Securities $225,000 Accounts Receivable 890,000 Inventories (lower of cost or market) 930,000 Prepaid Expenses 10,150 Accumulated Tax Prepayments 12,000 Current Assets 2,067,150 Fixed Assets at Cost 2,500,000 less: Accumulated Depreciation 700,000 Net Fixed Asset 1,800,000 Investments, Long-Term 35,000 Goodwill 100,000 Total Assets $4,002,150 Bank Loans and Notes Payable $448,500 Accounts Payable 148,000 Accrued Taxes 36,000 Other Accrued Liabilities 195,500 Current Liabilities 828,000 Long-Term Debt 1,200,000 Common Stock, $1 par value 700,000 Additional Paid-in Capital 174,150 Retained Earnings 1,100,000 Total Net Worth 1,974,150 Total Liabilities and Net Worth $4,002,150 ALPHA MANUFACTURING COMPANY, Income statement Net Sales $5,200,000 less: Cost of Goods Sold 4,576,000 Gross Profit 624,000 Selling, General and Administrative Expense 750,000 Depreciation 95,000 Interest Expense 75,000 Earnings Before Taxes (296,000) Income Taxes 0 Earnings After Tax (296,000) Cash Dividends 0 Increase (decrease) in Retained Earnings ($296,000) According to these statements in Table 6-1, ALPHA's average collection period (using a 360 day year) was: ????? Select one: a

Finance

ALPHA MANUFACTURING COMPANY, Balance Sheet
Cash and Marketable Securities $225,000
Accounts Receivable 890,000
Inventories (lower of cost or market) 930,000
Prepaid Expenses 10,150
Accumulated Tax Prepayments 12,000
Current Assets 2,067,150
Fixed Assets at Cost 2,500,000
less: Accumulated Depreciation 700,000
Net Fixed Asset 1,800,000
Investments, Long-Term 35,000
Goodwill 100,000
Total Assets $4,002,150
Bank Loans and Notes Payable $448,500
Accounts Payable 148,000
Accrued Taxes 36,000
Other Accrued Liabilities 195,500
Current Liabilities 828,000
Long-Term Debt 1,200,000
Common Stock, $1 par value 700,000
Additional Paid-in Capital 174,150
Retained Earnings 1,100,000
Total Net Worth 1,974,150
Total Liabilities and Net Worth $4,002,150
ALPHA MANUFACTURING COMPANY, Income statement
Net Sales $5,200,000
less: Cost of Goods Sold 4,576,000
Gross Profit 624,000
Selling, General and Administrative Expense 750,000
Depreciation 95,000
Interest Expense 75,000
Earnings Before Taxes (296,000)
Income Taxes 0
Earnings After Tax (296,000)
Cash Dividends 0
Increase (decrease) in Retained Earnings ($296,000)



According to these statements in Table 6-1, ALPHA's average collection period (using a 360 day year) was: ?????

Select one:

a. 62 days.

b. 45 days.

c. 17 days.

d. 95 days.

Option 1

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