AL MULTIPLE CHOICE. DONT NEED EXPLANATION JUST ANSWER

QUESTION 46

Granger Corporation had $208,000 in sales on account last year. The beginning accounts receivable balance was $25,000 and the ending accounts receivable balance was $29,000. The corporation's average collection period was closest to: (Round your intermediate calculations to 2 decimal places.)

Multiple Choice

43.9 days

47.4 days

50.9 days

7.7 days

QUESTION 51

Rawe Corporations accounts receivable at the end of Year 2 was $357,000 and its accounts receivable at the end of Year 1 was $311,000. Sales, all on account, amounted to $1,443,000 in Year 2. The companys average collection period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)

Multiple Choice

78.7 days

90.3 days

84.5 days

4.3 days

QUESTION 52

Illies Corporation's comparative balance sheet appears below:

Comparative Balance Sheet
	Ending Balance	Beginning Balance
Assets:
Current assets:
Cash and cash equivalents	$ 44,000	$ 37,000
Accounts receivable	23,000	25,400
Inventory	71,000	73,400
Total current assets	138,000	135,800
Property, plant, and equipment	370,000	347,000
Less accumulated depreciation	164,000	136,000
Net property, plant, and equipment	206,000	211,000
Total assets	$ 344,000	$ 346,800
Liabilities and stockholders' equity:
Current liabilities:
Accounts payable	$ 22,000	$ 23,400
Accrued liabilities	58,000	63,400
Income taxes payable	52,800	46,000
Total current liabilities	132,800	132,800
Bonds payable	86,000	92,000
Total liabilities	218,800	224,800
Stockholders equity:
Common stock	29,000	26,000
Retained earnings	96,200	96,000
Total stockholders equity	125,200	122,000
Total liabilities and stockholders' equity	$ 344,000	$ 346,800

The company did not dispose of any property, plant, and equipment during the year. Its net income for the year was $4,200 and its cash dividends were $4,000. The company did not issue any bonds payable or purchase any of its own common stock during the year. Its net cash provided by (used in) operating activities and net cash provided by (used in) financing activities are:

Multiple Choice

net cash provided by (used in) operating activities, $37,000; net cash provided by (used in) financing activities, $(3,000)

net cash provided by (used in) operating activities, $39,400; net cash provided by (used in) financing activities, $(7,000)

net cash provided by (used in) operating activities, $37,000; net cash provided by (used in) financing activities, $(7,000)

net cash provided by (used in) operating activities, $39,400; net cash provided by (used in) financing activities, $(3,000)

QUESTION 56

Klutz Dance Studio had net income of $179,000 for the year just ended. Klutz collected the following additional information to prepare its statement of cash flows for the year:

Decrease in accounts receivable	$ 27,000
Increase in accounts payable	$ 14,000
Increase in retained earnings	$ 98,000
Cash paid for purchase of new music equipment	$ 23,000
Depreciation expense	$ 5,600

Klutz uses the indirect method to prepare its statement of cash flows. What is Klutz's net cash provided by (used in) operating activities?

Multiple Choice

$104,000

$143,600

$207,200

$225,600