Question
1. The following computations were made from Clay Co.'s 20X1 books: Number of days' sales in inventory 61 Number of days' sales in trade accounts
1. The following computations were made from Clay Co.'s 20X1 books:
Number of days' sales in inventory | 61 |
Number of days' sales in trade accounts receivable | 33 |
What was the number of days in Clay's 20X1 operating cycle?
a. 61
b. 47
c. 33
d. 94
2. Green Co. had net cash provided by operating activities of $209,000; net cash used by investing activities of $354,000; and cash provided by financing activities of $190,000. Greens cash balance was $36,500 on January 1. During the year, there was a sale of equipment that resulted in a gain of $7,200 and proceeds of $55,000 were received from the sale. What was Greens cash balance at the end of the year?
a.$55,000
b.$88,700
c.$45,000
d.$81,500
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