24. The following bank reconciliation is presented for the Kingston Company for the month of November year 1:
25. Data for the month of December year 1 per bank follows:
26. All items that were outstanding as of November 30, cleared through the bank in December, including the bank credit. In addition, $ 2,500 in checks were outstanding as of December 31, year 1. What is the balance of cash per books at December 31, year 1?
27. Lind Corp. declared a cash dividend of $ 50,000 on March 10, year 2, to stockholders of record March 25, year 2, payable on April 5, year 2. As a result of this cash dividend, working capital
28. The controller of Peabody, Inc. has been asked to present an analysis of accounts receivable collections at the upcoming staff meeting. The following information is used:
29. What is the receivables turnover ratio as of December 31, year 2?
30. All but one of the following are required before a transfer of receivables can be recorded as a sale.
31. Alfisol, Inc. offers sales discounts of 2 % on all credit sales paid within 15 days. For year 1, gross credit sales totaled $ 150,000 and 75 % of Alfisol’ s customers took advantage of the discount. Under the net method