Reference no: EM132848736
Problem - HARANGUE INFLATED SPEECH Co. had the following information for 20x1:
Accounts receivable turnover 10:1
Total assets turnover 2:1
Average receivables during the year P400,000
Total assets, January 1, 20x1 800,000
Required - How much is the total assets as of December 31, 20x1?
a. 4,000,000 b. 3,800,000 c. 3,200,000 d. 2,800,000