Question 34 Recent financial data for Kirk Corporation are provided below Income Statement...

60.1K

Verified Solution

Question

Accounting

image

Question 34 Recent financial data for Kirk Corporation are provided below Income Statement Revenues Net patient service revenue $806,650 Operating Expenses Medical services Support services General services Depreciation $510,000 119,000 93,700 72,300 (795,000) 11,650 Operating Income Other Income and Expenses Interest income Interest expense 36,000 36,000 Net Income $11,650 Balance Sheet (partial) Cash Net receivables Inventory Other current assets $268,000 169,000 135,000 65,000 $637,000 Total current assets Accounts payable Interest payable Other current liabilities $203,000 18,000 19,000 $240,000 Total current liabilities The company reports that 80% of its revenues were on credit. What is Days in Receivables? (Round final answer to 2 decimal places, e.g., 1.23.) 95.59 76.47 456.25 1,768.00

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students