Part A)

On July 1, 2017, Alpha Company purchased inventory from its Japanese supply source. Terms of sale were 100,000 yen, due 30 days from the date of purchase.On July 30, 2017, Alpha paid for the supplies purchased on July 1. The exchange rate for the yen was $0.01 on the date of purchase, and $0.0097 on the date of payment. Use this information to make an exampel of Alpha Company's general journal entries to record the purchase and payment for inventory purchased from its Japanese vendor.

Part B)

For the FY 2016, Alpha Company's balance sheet included the following current items: cash $40,000, accounts receivable $160,000, inventories $100,000, prepaid expenses $20,000, accounts payable $90,000, and accrued expenses $70,000.Use this information to make an example of the: (Round & enter your answers to one decimal place for non-dollar ratios and enter the value. For dollar ratio enter as whole dollars only.)

1. Quick Ratio

2. Current Ratio

3. Working Capital

Part C)

The following financial information isfor Alpha Corporationarefor the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account

2017

2016

Accounts Receivable

$9,800

$9,400

Inventory

30,000

16,000

Net Sales (all credit)

85,000

71,000

Cost of Goods Sold

62,000

52,000

Net Income

7,200

6,900

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.)

1.theinventory turnover ratio

2.numberof days of inventory

3. Gross Profit Margin

4. Profit Margin

Part C)

The following information is related to Alpha Company's fiscal year 2017.

Income Statement:

Net Income$300,000

Depreciation Expense50,000

Gain onSaleof Plant Assets10,000

Interest Expense500

Balance Sheet - 12/31/17: Increase (Decrease)

Accounts Payable($4,000)

Plant Assets - Purchased250,000

Plant Assets - Disposals(100,000)

Additional Information:

Cash Balance - 12/31/2016:$50,000

Common Stock exchanged for outstanding Long Term Notes Payable of $125,000

Dividends paid were $25,000

Use this information to prepare an example of the Statement of Cash Flows for Alpha Company using the indirect method.