Question
SENECA MAINTENANCE COMPANY Balance Sheet Assets Liabilities Cash $15,000 Accounts Payable $21,000 Accts. Receivable 22,000 Notes Payable 20,000 Inventory 30,000 Accrued Expenses 5,000 Current Assets
SENECA MAINTENANCE COMPANY Balance Sheet
Assets
Liabilities
Cash
$15,000
Accounts Payable
$21,000
Accts. Receivable
22,000
Notes Payable
20,000
Inventory
30,000
Accrued Expenses
5,000
Current Assets
67,000
Current Liabilities
46,000
Net Capital Assets
73,000
Long-term Debt
30,000
Shareholders Equity
64,000
Total Assets
$140,000
Total Liabilities
$140,000
CALCULATE AVERAGE COLLECTION PERIOD
64 days
58 days
45 days
80 days
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Public Finance
Authors: Harvey Rosen, Ted Gayer
10th edition
9781259716874, 78021685, 1259716872, 978-0078021688
