Vaughn Enterprises is a startup in the health field. They are running low on cash and...
Vaughn Enterprises is a startup in the health field. They are running low on cash and the CEO is not expecting the 2nd round of funding until a couple of months down the road. The CFO was asked to review the information on their accounts receivable to see how much of their money is tied up with their clients.
The information on their books indicated that some of their accounts receivable are kind of old. Some were past due. The ages of their receivable follow a normal distribution with µ = 28 days and σ = 8 days.
What portion of the account is between 20 and 40 days old? That is: P (20 ≤ x ≤ 40)
Homework Answers
The final answer is 0.7745Add Answer to:
Vaughn Enterprises is a startup in the health field. They are
running low on cash and...
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Problem 1. The account balances from the September 30, 2020 unadjusted trial balance for Washington Enterprises...
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The account balances from the September 30, 2020 unadjusted trial balance for Washington Enterprises Inc. are presented below: Debit Credit Contributed Capital.. $110,000 Office Furniture... 72,000 Accumulated Depreciation-Furniture.. 6,000 Cash... $224,000 Rent Expense. 12,000 Retained Earnings.. 125,000 Accounts Receivable.. 71,000 Accounts Payable.. 98,000 Office Supply Inventory. 58,000 Note Payable (taken out on 9/1/20; 10% interest due annually) 30,000 Consulting Revenue. 110,000 Deferred Revenue. 20,000 Salaries Expense.. 40,000 Prepaid Insurance. 22,000 Additional information is as follows: a. The Prepaid Insurance represents...
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Refer to Harrisons’ Income Statement data which is located in
Appendix B to the Partner’s Memo and record your answers to the
following questions:
Perform analytical procedures for the completeness assertion of
advertising expense, security expense and bad debts expense and
indicate whether you believe that there is a concern about material
misstatements in each accoun
Suggest an appropriate substantive procedure to test the
completeness of security expense.
Monet & Associates Memo To: Dean Smith (Audit Senior) From: Vince Mater...
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