Other - Business & Finance - November 2007

Information from River Corporation's balance sheet at December 31, 2008, and income statement for the year ended December 31, 2008, is as follows:




Cash
$
15,000

Cost of Goods Sold

515,000

Unearned Revenue

25,000

Rent Expense

24,000

Accounts Receivable, net

115,000

Accounts Payable

13,000

Equipment, net

165,000

Interest Payable

1,780

Net Income

48,000

Inventory

212,000

Salaries Payable

12,000

Short-term Investments

8,000

Office Supplies

1,250

Prepaid Insurance

6,000

Land

35,000

Long-term Notes Payable

60,000

Sales Revenue

1,825,000

Interest Expense

1,350

Insurance Expense

800


--------------------------------------------------------------------------------

Requirement 1:

Calculate River Corporation's current and quick ratios. (Round answer to 2 decimal places.)


Current ratio


Quick ratio




Requirement 2:

Calculate the corporation's accounts receivable turnover ratio. The Accounts Receivable balance at December 31, 2007, was $122,000. (Round answer to 2 decimal places.)


Accounts receivable turnover




Requirement 3:

On average, how many days does it take River to collect its receivables? (Round answer to 2 decimal places.)


Days to collect receivables

2007-11-16 09:59:35 · 4 answers · asked by pantherbaseball14 2

this was on my bank statment, the bank has no idea who or what this is.

2007-11-16 09:50:04 · 1 answers · asked by icy24svn 2

2007-11-16 09:23:39 · 5 answers · asked by Anonymous

2007-11-16 08:03:18 · 15 answers · asked by cj23 1

A sales person that I am working with showed up to the office without calling or anything no appointment.

This made me feel like he is too pushy and I didn’t like this approach. I feel kind of weird working with him now.

Anyone had similar experiences?

2007-11-16 07:39:34 · 2 answers · asked by Anonymous

2007-11-16 07:26:55 · 4 answers · asked by Shearson 1

2007-11-16 06:15:07 · 1 answers · asked by Melabs 1

2007-11-16 06:14:29 · 2 answers · asked by Jon D 1

how long do u think it will take for the american dollar to become worthless ?

2007-11-16 05:50:58 · 9 answers · asked by Anonymous

2007-11-16 04:34:21 · 11 answers · asked by Anonymous

I have a house under my name but I do not live there. My parents and younger siblings reside there. My other brother pays for the mortgage and basically it's all under my credit.
Anyways, I was wondering how I can get this house to qualify under Section 8? Do I need to sign this house up somewhere?Also, the tenants will be my own family...no strangers. Please, any information would be great!
Thanks in advance!

2007-11-16 04:17:19 · 2 answers · asked by pangfvlx 3

It has been very difficult to sell stuff on ebay over recent months. You cant give stuff away. Even quality new products. Has the ebay bubble burst?

2007-11-16 04:00:52 · 13 answers · asked by Anonymous

2007-11-16 03:52:25 · 7 answers · asked by Carmen 1

past year. Which corporation did RIM overtake?

2007-11-16 01:39:26 · 10 answers · asked by three_to_love 2

what is required to sell designer purses that are replica's

2007-11-16 01:37:24 · 7 answers · asked by Haley 1

2007-11-16 01:32:29 · 3 answers · asked by Anonymous

old money value

2007-11-15 20:05:24 · 8 answers · asked by crickettyree 1

i ve got a increment but i'm not satisfied with it.just let me know how i describe bthis to my boss in a different way where i dont hav to tell anyhing directly to my boss.

2007-11-15 17:55:15 · 2 answers · asked by Anonymous

2007-11-15 16:15:24 · 2 answers · asked by ttphg 1

I bought a suit at New York & Company and while the cashier was processing my order, the register froze up. I had already signed my check and she was going to process it electronically. Well, after the register froze up, she moved me to a second register. At that register she proceeded to ring me up. This time she said my check had to be "deposited only." Well, three days later and checked my bank statement and I noticed that I was charged twice (same check number, amount and payee). The only difference was one was an electronic check and the other was a regular check . This occured on 10/23/07. I have faxed my bank statement a total of 3 times. I have called customer service sooo many times. Is this legal??? What are my options?

2007-11-15 15:38:14 · 16 answers · asked by Shawnie 1

be short specific

2007-11-15 14:50:11 · 4 answers · asked by Rigo 2

How to avoid being stabbed in the back? How to get ahead? How to succeed?

2007-11-15 14:13:56 · 2 answers · asked by Why_so_serious? 5

I am selling a website and the company wants me to justify the price

2007-11-15 09:59:59 · 10 answers · asked by THE GATEKEEPER 3

2007-11-15 09:05:41 · 2 answers · asked by nckmn97 2

When I write the initial letter to my bank to claim back the high bank charges, do they write back or phone me and can they not comply if they dont want to...

I just find it too easy that my bank, Halifax, will lay down and let me take thousands back from them!

2007-11-15 08:12:57 · 2 answers · asked by destiny 1

www.cashunclaimed.com
or
http://unclaimedmoney.us.com/


Has anybody used any of these sites or know a site that is not a scam of any sort? Any information would be great!

2007-11-15 07:57:48 · 2 answers · asked by Brandon A 1

I went to interview the CEO of a PR firm for a business class. She was very kind, and even offered me an internship. I plan on sending her a thank you letter, but I am debating which method to use. Should I send her a typed, business-letter thanking her? Or should I buy a thank you card, and hand-write what I want to say?

I know the method of sending a "thank you" card depends on the industry, so I am leaning towards sending a hand-written letter in a card because it is Public Relations, which works on creating a good rapport. What do you guys think?

2007-11-15 07:42:05 · 26 answers · asked by mrr86 5

2007-11-15 06:51:37 · 4 answers · asked by Jaime M 2

We bought beautiful furniture from this place that is closing as a result of government wanting the land. They said 4-6 weeks. It is 6 weeks tomorrow and it's still not here. We needed to have it by thanksgiving. I have been talking with a manager and they can't promise anything. What else can I do? Is there any way they can give us the pieces off their display? What is my legal rights in this situation? I'm having guests for Thanksgiving and the weekend and my house has no furniture!

2007-11-15 05:29:08 · 4 answers · asked by af 1

What two types of profit does a profit and loss account calculate?

Explain what is meant by the term GROSS PROFIT

Explain how gross profit is calculated

Explain what is meant by the term NET PROFIT

Need help quick!!!!

THANK YOU!!

2007-11-15 04:15:09 · 2 answers · asked by X.Choices.X 2