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Flynn Corporation Balance Sheet December 31, 2015 Assets Kash Marketable securities long-term Accounts receivable Inventory Long-term receivables Property, plant, and equipment $ 90,000 30,000 60,000
Flynn Corporation Balance Sheet December 31, 2015 Assets Kash Marketable securities long-term Accounts receivable Inventory Long-term receivables Property, plant, and equipment $ 90,000 30,000 60,000 200,000 70,000 130.000 S580.000 Total assets Liabilities and Stockholders' Equity Accounts payable Long-term liabilities Stockholders' equity Total liabilities and stockholders' equity $180,000 120,000 280.000 $580.000 Flynn Corporation Income Statement For the Year Ended December 31, 20x5 Net sales Cost of goods sold Gross margin Operating expenses income before income taxes Income taxes expense Net income $400,000 240.000 $160,000 40.000 $120,000 30,000 $ 90.000 What is the payable turnover and days' payable for this corporation? Round your answer to two decimal places. (5 pts) (Please show your computation in the blank space) Flynn Corporation Income Statement For the Year Ended December 31, 20x5 Net sales Cost of goods sold Gross margin Operating expenses Income before income taxes Income taxes expense Net income $400,000 240.000 $160,000 40.000 $120.000 30.000 $ 90.000 What is the receivable turnover for this corporation? Round your answer to two decimal places. (Please show your computation in the blank space between #11 and #12 before you select the answer choice) 12. Mortgages payable (2 pt) a. are usually paid in monthly installments. b. have payments that include both interest on the debt and reduction in the debt. c. are secured by real property. d. All of these choices 13. Amaco corporation had Accounts receivable balance of $80,000, Accounts payable balance of $120,000 Inventory balance of $100,000 for the year ended December 31, 20x4. Following statements for Amaco Corporation for the year ended December 31, 20x5. aret
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