Reference no: EM133134144
Questions -
Q1. Liberty Company has sales of P3 million, accounts receivable of P2 million, cost of goods sold of P1 million, how much is the gross profit?
Q2. Liberty Company has sales of P3 million, accounts receivable of P2 million, cost of goods sold of P1 million, operating expenses of P1 million, interest expense of P1 million, how much is the operating income?
Q3. Bebeng Company has sales of P3 million, accounts receivable of P2 million, cost of goods sold of P1 million, operating expenses of P1 million, interest expense of P1 million, how much is the net income income (assuming no tax)?
Q4. Given an annual credit sales value of P365 million, accounts receivable of P36.5 million, what is the inventory turnover? Use 365 days in a year.
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