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12. The following balance sheet information was provided by Oleg Company:
Assuming net credit sales totaled \$120,000, what was the company's average days to collect receivables?
18.3 days
21.5 days
60 days
52.1 days

14. The following partial balance sheet is provided for Templeton Company:
What is the company's debt to assets ratio?
33%
50%
67%
41%

15. The Walter Wilson Company reported the following income for 2007:
What is the company's net margin?
73%
40%
27%
18%

17. The Aloysius Company provided the following information from its financial records:
What is the amount of the company's earnings per share?
\$0.72
\$0.76
\$0.80
\$25.00

19. The Ulysses Company reported the following income for 2007:
What is the company's number of times interest is earned?
4 times
6 times
7 times
10 times

35. What is the effect on the financial statement model of recording a \$100 cash purchase of raw materials?
A Above.
B Above.
C Above.
D Above.

36. What is the effect on the financial statement model of making a profitable cash sales of inventory to customers?
A Above.
B Above.
C Above.
D Above.

32. Which of the following should not be recorded as an expense?
Paid office salaries
Paid factory maintenance costs
Paid product advertising costs
Paid sales commissions

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#### Solution Preview

12. The following balance sheet information was provided by Oleg Company:

Assuming net credit sales totaled \$120,000, what was the company's average days to collect receivables?
18.3 days
21.5 days
60 days
52.1 days

Its = Average receivables/ Daily Net Credit sales
=((7000+5000)/2)/(120000/360)
18 days

14. The following partial balance sheet is provided for Templeton Company:

What is the company's debt to assets ratio?
33%
50%
67%
41%
= (Accounts payable+ Bonds Payable+ Salaries payable) /(Total Liabilities +equity)
= ...

#### Solution Summary

This discusses the computation of average days to collect receivables

\$2.49