To answer these BELLEVILLE CORPORATION Comparative Statements of Financial Posit

Question

To answer these
BELLEVILLE CORPORATION Comparative Statements of Financial Position For the Period ended December 31 Assets Cash Trading investments Accounts receivable Merchandise inventory Property, plant, and equipment 2015 $35,250 40,000 2016 15,000 60,000 50,000 30,000 60,000 70,000 260,000300,000 S420,250 $500,000 Total assets Liabilities and shareholders' equity Accounts payable Short-term bank loan payable Bonds payable Common shares $ 20,000 30,000 40,000 90,000 80,000 160,000 170,000 145,000 110,25075,000 $400,250 $500,000 Retained earnings Total liabilities and shareholders' equity

Explanation / Answer

54) Average collection period = Average receivables*365/Credit sales = (50000+30000)*365/(2*400000) = 36.5 days. Option ]a] 55) Dividend to be distributed for a payout ratio of 80% = 80250*80% = 64200 Dividend paid 45000 Amount that was short paid 19200 Option [b]

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