Homework Answers
Accounts receivable turnover ratio is the ratio between turnover of the company and it's accounts receivable.It helps to know the ability of a company to effectively issue credit to it's customers
Accounts receivable turnover ratio=turnover/average accounts receivable
=1270000/71500
=17.8
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Saved Help Save & Exit Sub Powers Company reported net sales of $1,270,000, average Accounts Receivable,...
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income...
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700. The accounts receivable turnover ratio is: O 0.52 times. 18.4 times. 36.8 times. 19.4 times. 20.4 times.
Saved Help Save A company has net sales of $1,580,800 and average accounts receiva ble of...
Saved Help Save A company has net sales of $1,580,800 and average accounts receiva ble of $416,000. What is its accounts receivable turnover for the period? Mutiple Choice 0.28 22.40 3.80 6.60 76.20 <Prev 40, 30 Next >
Saved Help Save & Exit Submit A company's balance sheet shows: cash $35,000, accounts receivable $41,000,...
Saved Help Save & Exit Submit A company's balance sheet shows: cash $35,000, accounts receivable $41,000, equipment $72,000, and equity $83,000 What is the amount of liabilities? Multiple Choice $148,000 $131,000. $65,000 $79,000 BE < Prev 5 of 34 Next >
Assignment Saved Help Save & Exit Sub A company leases an office building for 24 months....
Assignment Saved Help Save & Exit Sub A company leases an office building for 24 months. At the beginning of the lease period, the lessee (user) would: Multiple Choice Record a lease asset. O Record a lease liability. O Record a lease for the present value of the 24 lease payments. O All of the answers are correct. < Prev 37 of 90 Next >
Saved Save & Exit Sub iz- Required Help Mackenzie Company sold $180 of merchandise to a...
Saved Save & Exit Sub iz- Required Help Mackenzie Company sold $180 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4% service charge for sales on its credit cards. Mackenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice 29 Debit Cash of $180 and credit Sales $180. Debit Cash of $180 and...
Saved Help Save & Exit When governments provide information to unemployed people about which professions are...
Saved Help Save & Exit When governments provide information to unemployed people about which professions are experiencing rising demand for labor, they are trying to minimize the effects of which kind of unemployment? Multiple Cholce Seasonal unemployment Cyclical unemployment Frictional unemployment Structural unemployment 14 of 50 Next> Prev
2- Required Saved Help Save & Exit 5 A company uses the percent of sales method...
2- Required Saved Help Save & Exit 5 A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $391,000 debit Allowance for uncollectible accounts 660 credit Net Sales 960,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. What amount should be debited to...
4th multiple choice) 106,000 Eco 215, 00-01.. Manage your team... Saved Help Save & Exit On...
4th multiple choice) 106,000
Eco 215, 00-01.. Manage your team... Saved Help Save & Exit On June 1, Cline paid $911,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on Jun 1 follow: Cash Accounts receivable Capitalized software costs Goodwill Liabilities Net assets $ 161,000 194,000 345,000 168,000 (159,000) $ 709,000 On June 1, Renn's accounts receivable had a fair value of $143,000. Additionally, Renn's in-process research...
rgy Balance Concep... Saved Help Save & Exit Sub Required information Weight changes were assessed by...
rgy Balance Concep... Saved Help Save & Exit Sub Required information Weight changes were assessed by self- reports of body weight every four years throughout the study. What did the researchers do to ensure the accuracy of self-reported body weight data? Multiple Choice Subjects measured body weight at home using scales that electronically transmitted measurements to the study database The researchers did not ensure the accuracy of self-reported body weight data The researchers velidated self-reports of body weight against measurements...
All answers must be entererd as formulas CHAPTER 8 0 Saved Help Save & Exit Sub...
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answers must be entererd as formulas
CHAPTER 8 0 Saved Help Save & Exit Sub - - - Formatting Pom Styles Table Styles Clipboard Font A E F G H I A proposed new investment has projected sales of $635,000. Variable costs are 44 percent of sales, and fixed costs are $193,000; depreciation is $54,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? Projected sales Variable cost (%...
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700. The accounts receivable turnover ratio is: O 0.52 times. 18.4 times. 36.8 times. 19.4 times. 20.4 times.
Saved Help Save A company has net sales of $1,580,800 and average accounts receiva ble of $416,000. What is its accounts receivable turnover for the period? Mutiple Choice 0.28 22.40 3.80 6.60 76.20 <Prev 40, 30 Next >
Saved Help Save & Exit Submit A company's balance sheet shows: cash $35,000, accounts receivable $41,000, equipment $72,000, and equity $83,000 What is the amount of liabilities? Multiple Choice $148,000 $131,000. $65,000 $79,000 BE < Prev 5 of 34 Next >
Assignment Saved Help Save & Exit Sub A company leases an office building for 24 months. At the beginning of the lease period, the lessee (user) would: Multiple Choice Record a lease asset. O Record a lease liability. O Record a lease for the present value of the 24 lease payments. O All of the answers are correct. < Prev 37 of 90 Next >
Saved Save & Exit Sub iz- Required Help Mackenzie Company sold $180 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4% service charge for sales on its credit cards. Mackenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice 29 Debit Cash of $180 and credit Sales $180. Debit Cash of $180 and...
Saved Help Save & Exit When governments provide information to unemployed people about which professions are experiencing rising demand for labor, they are trying to minimize the effects of which kind of unemployment? Multiple Cholce Seasonal unemployment Cyclical unemployment Frictional unemployment Structural unemployment 14 of 50 Next> Prev
2- Required Saved Help Save & Exit 5 A company uses the percent of sales method to determine its bad debts expense. At the end of the current year, the company's unadjusted trial balance reported the following selected amounts: Accounts receivable $391,000 debit Allowance for uncollectible accounts 660 credit Net Sales 960,000 credit All sales are made on credit. Based on past experience, the company estimates that 0.5% of net credit sales are uncollectible. What amount should be debited to...
4th multiple choice) 106,000
Eco 215, 00-01.. Manage your team... Saved Help Save & Exit On June 1, Cline paid $911,000 cash for all of the issued and outstanding common stock of Renn Corp. The carrying amounts for Renn's assets and liabilities on Jun 1 follow: Cash Accounts receivable Capitalized software costs Goodwill Liabilities Net assets $ 161,000 194,000 345,000 168,000 (159,000) $ 709,000 On June 1, Renn's accounts receivable had a fair value of $143,000. Additionally, Renn's in-process research...
rgy Balance Concep... Saved Help Save & Exit Sub Required information Weight changes were assessed by self- reports of body weight every four years throughout the study. What did the researchers do to ensure the accuracy of self-reported body weight data? Multiple Choice Subjects measured body weight at home using scales that electronically transmitted measurements to the study database The researchers did not ensure the accuracy of self-reported body weight data The researchers velidated self-reports of body weight against measurements...
All
answers must be entererd as formulas
CHAPTER 8 0 Saved Help Save & Exit Sub - - - Formatting Pom Styles Table Styles Clipboard Font A E F G H I A proposed new investment has projected sales of $635,000. Variable costs are 44 percent of sales, and fixed costs are $193,000; depreciation is $54,000. Prepare a pro forma income statement assuming a tax rate of 21 percent. What is the projected net income? Projected sales Variable cost (%...
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