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Tecom had net sales of $315,000 and average accounts receivable of $75,600. Its competitor, ZCom, had net sales of $299,000 and average accounts receivables of $81,350. Calculate the accounts receivable turnover for both companies. Which company is doing a better job of managing its accounts receivables? Your answer must include the following items :
Question 1: Explain The indication of these ratios and if its increase or decrease is better .
Question 2: Get another ratio to evaluate the management of Accounts receivable and explain it . ( If available )
Prepare journal entries. Be sure all dates agree with the problem and are not today's date- July 1, 2015: Construction in progress,
Are the individual differences listed above permanent differences or temporary differences? Explain why. Calculate Taxable Income and Tax payable
Veltri Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.72 direct labor-hours. The direct labor rate is $11.50 per direct labor-hour. The production budget calls for producing 6,600 units in Oc..
A business purchased merchandise for $12,000 on account; terms are 2/10, n/30. If $2,000 of the merchandise was returned and the remaining amount due was paid within the discount period, the purchase discount would be:
Kraft Company made the following journal entry in late 2014 for rent on property it leases to Danford Corporation. What amount of income tax expense should Kraft Company report at the end of 2014? Assuming the income taxes payable at the end of 2015 ..
LJB Company, a local distributor, has asked your accounting firm to evaluate their system of internal controls because they are planning to go public in the future.
A company's stockholders' equity account balances appear below. Fifty thousand shares of common stock are authorized, and 2,500 shares have been reacquired. How much is total stockholders' equity?
What is the total contributed capital at December 31, 2018? What was the net income (loss) earned for the year ended December 31, 2018?
10% annual interest and is due in six months. What would the company record on August 1st, when the borrower pays the correct amount owed?
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 48,000 actual direct labor-hours and incurred $552,000 of actual manufacturing ..
Accounting Information systems- The accountant’s job duties have dramatically changed within recent decades. As IT continues to advance and accounting information systems become more sophisticated, what do you foresee about how financial information ..
Considering our current economic conditions should a business or a person create a flexible budget? What are the advantages of a flexible budget? How does a business create flexible budgets?
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