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Question - For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525 000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Accounts Payable was $5,000 and Net Income was $42,000.
1. Calculate the Accounts Receivable Turn Days.
2. Calculate the Inventory Turn days.
A company's board of directors votes to declare a cash dividend of $1.00 per share of common stock The company has 20,000 shares authorized, 15.000 Issued.
Penny works for a cake factory selling only cakes.Whenever the shop offers a 10% discount the sales volume increases by 11%Penny believes the shop should offer a permanent 10% discount to increase sales.
3/1/13 - Purchased a new piece of equipment for $75,000 signing a six month, 7% note payable. Prepare the journal entries for the above transactions
pick a form of ownership sole proprietorship partnership corporation s-corporation llc.explain your choice.once
The partnership agreement does not specify the division of profits and losses. How will net income and net loss be divided?
ABC Corporation offered a four-for-one stock split. The number of outstanding shares before the split was 15,000, and the par value was $20 per share. After the split, what was the par value and number of shares?
Prepare the journal entries required for the dividend declaration and payment, assuming that they occur simultaneously.
What is the Annual depreciation under the declining balance method for the First Year
the manager of healthy snack division of mulchan industries is evaluated on her divisions return on investment and
A client's physical count of inventories was higher than the inventory quantities shown in the perpetual records. This situation could be the result of the failure to record
harvey clothing store had a balance in the accounts receivable account of 390000 at the beginning of the year and a
What is your opinion of Randy's reasoning? Explain the circumstances under which Randy's decision would be acceptable under GAAP and circumstances under which it would definitely be unacceptable.
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