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Prepare a comparative income statement

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Reference no: EM133030816

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Q1. The following data were taken from the balance sheet of Haydee Company:

Cash P92,000

Prepaid Expense P12,500

Marketable Securities 50,000

Accounts Receivable (net) 122,000

Merchandise Inventory 273,500

Accounts Payable 175,000

Accrued Liabilities 45,000

1. Determine the following. Show solutions.

a. Working Capital b. Current Ratio c. Acid Test Ratio

2. What conclusions can be drawn from these data as to the company's ability to meet its currently maturing debts?

Q2. The following data are given on the sole product of Angel Trading

 

2017

2016

Sales Volume (Units)

5,000

4,000

Unit Selling Price

P10

P16

Unit Cost

P9

P8

Operating Expenses

 

 

Selling

P600

P10,000

General / Administrative

8,000

7,000

1. Prepare a comparative income statement?

Reference no: EM133030816

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