Excerpts from Huckabee Company's December 31, 2006 and 2005, financial statements are presented below:
2006 2005
Accounts Receivable 80,000 72,000
Merchandise Inventory 58,000 72,000
Net Sales 400,000 372,000
Cost of Goods Sold 240,000 220,000
Huckabee's 2009 receivables turnover is:
A. 3.69.
B. 5.00.
C. 5.26.
D. 3.16.
Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/09
- Currency and coins $650
- Balance in checking account $2600
- Customer checks waiting to deposited $1200
- Treasury bills purchased on 11/1/09,
- mature on 4/30/10 $3000
- Marketable equity securities $10,000
- Commercial paper purchased on 11/1/09
- mature on 1/30/10 $5,000
What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents?
A.$9,450.
B.$12,450.
C.$ 7,450.
D.$19,650.