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Which of the following factors are used to compute the average collection period?
a. Inventory turnover and 365 days
b. Net credit sales and average inventory
c. Average accounts receivable and 365 days
d. Average accounts receivable and cost of goods sold
Do an Internet search to identify the types of games and business simulations that are available. Select one and provide a description and an analysis of it. Discuss the learning content objectives.
The Alperti Company manufactures surgical gowns for hospitals. Their controller, Ethell Hieken is preparing the variance analysis report for October. Standard Costs are as follows: What is the material price variance?
Prepare a classified year-end balance sheet. (Note: A $22,000 installment on the long-term note payable is due within one year.)
What are Generally Accepted Accounting Principles (GAAP)? How does GAAP affect financial reporting? How does GAAP need to change to accommodate today's dynamic business environment?
Swanson Inc. purchased $400,000 of Malone Corp. ten-year bonds with a stated interest rate of 8 percent payable quarterly. At the time the bonds were purchased
Dr. Mark Skousen, in his article, "Raising Cain: Why the 9-9-9- Tax Plan is a Dangerous Policy", states that Republican Herman Cain has gotten quite a bit of publicity about his new 9-9-9 tax plan.
CAPM and Venture Capital
Discuss the differences between temporary and permanent accounts. What will happen if the temporary accounts like revenue, expense and dividend accounts are not closed in the ledger?
Chester Lome drills well for residential and commercial lots. In April 2008. Chester decided to scrap his well drilling truck, purchased in 1984 for $25,000 and fully depreciated. Prepare the journal entry recording the scrapping of the truck.
Journal entries for equity securities for Capriati Corp in 2012, their first year of business, including unrealized gains or losses in 2012:
Williamson Group operates a chain of bookstores. A recent business expansion plan resulted in the opening of more than 25 new stores. The Upland store has one more feature that the Stowe store does not have-a small coffe shop.
Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available: Determine the amount of cost of goods sold using:
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