1. The following data (assume a 365-day year) is in relation to Warehouse Ltd:

Sales = $3,650,000

Total asset turnover = 4

Current ratio = 3:1

Quick ratio = 2:1

Current liabilities to net worth = 30%

Average collection period = 20 days

Total debt to total assets = 0.4

Required:

Calculate the accounts receivable:

2. Assume you wish to save money on a regular basis to finance an exotic vacation in Dubai in the next 7 years. You are confident that, with sacrifice and discipline, you can forced yourself to deposit $10,500 annually at the end of each period for the next 7 years into a savings account. If the savings account is paying 12%, calculate the future value of this annuity

a.

$21,480

b.

$20,184

c.

$24,180

d.

$21,184

4. Find the present value of the ordinary annuity with annual payment of $400 per year for 10 years at 10%?