LONG QUIZ #1 (FABM2-MIDTERM-SY 2021-22)

Ulyanin Corporation forgot to take note how much inventory was purchased last year and also this year for its operation.You were given the following data for reference. This year: Net Sales-58,000; Cost of Goods Sold- 28,500 ; Beginning Inventory- 15,000 ; Ending Inventory- 14,600 ; Freight In- 500 ; Operating Expenses- 4,440

Last year: Net Sales-52,000; Cost of Goods Sold- 22,500 ; Beginning Inventory- 8,900 ; Ending Inventory- 15,000 ; Freight In- 200 ; Operating Expenses- 3,560

Compute for the inventory purchased THIS YEAR?

• 28,400

• 27,600

• 28,100

• Answer not given

Ulyanin Corporation forgot to take note how much inventory was purchased last year and also this year for its operation.You were given the following data for reference. This year: Net Sales-58,000; Cost of Goods Sold- 28,500 ; Beginning Inventory- 15,000 ; Ending Inventory- 14,600 ; Freight In- 500 ; Operating Expenses- 4,440

Last year: Net Sales-52,000; Cost of Goods Sold- 22,500 ; Beginning Inventory- 8,900 ; Ending Inventory- 15,000 ; Freight In- 200 ; Operating Expenses- 3,560

Compute for the inventory purchased LAST YEAR?

• 28,400

• 27,600

• 28,100

• Answer not given

Ulyanin Corporation forgot to take note how much inventory was purchased last year and also this year for its operation.You were given the following data for reference. This year: Net Sales-58,000; Cost of Goods Sold- 28,500 ; Beginning Inventory- 15,000 ; Ending Inventory- 14,600 ; Freight In- 500 ; Operating Expenses- 4,440

Last year: Net Sales-52,000; Cost of Goods Sold- 22,500 ; Beginning Inventory- 8,900 ; Ending Inventory- 15,000 ; Freight In- 200 ; Operating Expenses- 3,560.

Compute for the inventory Inventory Turnover THIS YEAR using average ending inventory as the base.

• 1.71 x

• 1.52 x

• 1.93 x

• Answer not given

Ulyanin Corporation forgot to take note how much inventory was purchased last year and also this year for its operation.You were given the following data for reference. This year: Net Sales-58,000; Cost of Goods Sold- 28,500 ; Beginning Inventory- 15,000 ; Ending Inventory- 14,600 ; Freight In- 500 ; Operating Expenses- 4,440

Last year: Net Sales-52,000; Cost of Goods Sold- 22,500 ; Beginning Inventory- 8,900 ; Ending Inventory- 15,000 ; Freight In- 200 ; Operating Expenses- 3,560.

Compute for the percentage change of Net Income from last year to this year (rounded off %).

• 3% Decrease

• 3% Increase

• 12% Increase

• 12% Decrease

Masigasig Corp.'s Net Cash flow from operating activities is P25,000, net cash flow from investing activities is P33,000 and Net cash generated from financing activities amounted to P10,500. Compute for the company's ending cash balance for the month?

• P68,500

• P58,000

• P25,000

• Answer not given

Masigasig Corp.'s Net Cash flow from operating activities is P25,000, net cash flow from investing activities is P33,000 and Net cash generated from financing activities amounted to P10,500. Compute for the company's ending accounts receivable?

• P16,380

• P31,380

• P5,380

• Answer not given

Masikap Company's Beginning and ending Accounts Payable is P2,880 and P1,200, respectively. If Net Purchases is P8,500, Compute for the company's payments for the month?

• P10,180

• P11,380

• P5,620

• Answer not given

Masaya Cooking Company has the following incomplete Statement of Financial Position account balances:

Cash-375; Accounts Receivables-__________; Inventories-3,625; Prepaid Expenses-___________; Property and Equipment-________; Intangible Assets-10,000; Total Assets-34,000; Accounts payable-5,000; Accrued Expenses-4,500; Total current Liabilities-9,500; Long term notes payable_________; Other long-term liabilities-4,900; Owner's Capital - 11.625; Current Ratio is 0.80; Acid-test ratio is 0.40 ; Quick assets include Cash and accounts receivables only (liquid assets)

From the given above, how much would be the accounts receivable balance?

• P3,425

• P3,800

• P3,600

• Answer not given

Masaya Cooking Company has the following incomplete Statement of Financial Position account balances:

Cash-375; Accounts Receivables-__________; Inventories-3,625; Prepaid Expenses-___________; Property and Equipment-________; Intangible Assets-10,000; Total Assets-34,000; Accounts payable-5,000; Accrued Expenses-4,500; Total current Liabilities-9,500; Long term notes payable_________; Other long-term liabilities-4,900; Owner's Capital - 11.625; Current Ratio is 0.80; Acid-test ratio is 0.40 ; Quick assets include Cash and accounts receivables only (liquid assets)

From the given above, how much would be the prepaid expenses balance?

• P175

• P200

• Zero

• Answer not given

Masaya Cooking Company has the following incomplete Statement of Financial Position account balances:

Cash-375; Accounts Receivables-__________; Inventories-3,625; Prepaid Expenses-___________; Property and Equipment-________; Intangible Assets-10,000; Total Assets-34,000; Accounts payable-5,000; Accrued Expenses-4,500; Total current Liabilities-9,500; Long term notes payable_________; Other long-term liabilities-4,900; Owner's Capital - 11.625; Current Ratio is 0.80; Acid-test ratio is 0.40 ; Quick assets include Cash and accounts receivables only (liquid assets)

From the given above, how much would be the total current assets balance?

• P7,600

• P7,400

• P7,975

• Answer not given