University of Phoenix Name XACC/280 Week four checkpoint Date Checkpoint: Besides the general journal‚ there are four different special journals; the Sales Journal‚ the Cash Receipts Journal‚ the Purchases Journal‚ and the Cash Journal. The Sales Journal records all sales of merchandise on account‚ cash and credit sales not included. The advantage of the sales journal is that it is time saving and easy because not every transaction has to be singled out‚ total can be reported instead
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2. 1 Current Ratio Table 1: Current Ratio of Mattel in 2010‚ 2011 and 2012($ thousands) |Year |Current Ratio =Current Assets/Current Liabilities | |2010 |$3‚226‚610/$1‚350‚282=2.39 | |2011 |$3‚443‚707/$1‚038‚928=3.31 | |2012
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New Corcentric Blog: Calculate ROI to Convince Your CFO (1888 PressRelease) Instead of talking about how automation and e-invoicing creates efficiencies in accounts payable‚ show your CFO the real ROI. McLean‚ VA - Corcentric‚ a leading provider of Accounts Payable automation and e-invoicing solutions‚ knows that sometimes the main obstacle to implementing an AP workflow automation solution is convincing the CFO that the benefits outweigh the costs. Corcentric cites a recently published
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“JOURNAL ENTRIES” a. JIL made initial cash investment. Cash XXX JIL‚ Capital XXX b. JIL made an additional investment‚ Equipment. Equipment XXX JIL‚ Capital XXX c. Purchased equipment on account. Equipment XXX Accounts Payable XXX d. Purchased equipment for cash. Equipment XXX Cash XXX e. Purchased supplies on account. Supplies XXX Accounts Payable XXX f. Purchased supplies for cash. Supplies XXX Cash XXX g. Rendered services on account. Accounts receivable XXX Service
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FI515 Week 7 Homework Managerial Finance Jalil Musah Problems (pgs. 681-682) 16-1 to 16-5 16-1 Cash Management Current Inventory = Sales/Current Inventory Turnover Ratio X = $10‚000‚000 / 2 = $5‚000‚000 in Current Inventory New Inventory = Sales/New Inventory Ratio X = $10‚000‚000 / 5 = $2‚000‚000 in New Inventory $5‚000‚000 – 2‚000‚000 = $3‚000‚000 The company will free up $3 million in free cash flow. 16-2 Receivables Investment Receivables = (DSO) * (Average Daily Sales)
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30)First Picked Fruits‚ Inc. a. Policy #1 Policy #2 Δ Sales Present policy $6‚100‚000 Policy one 6‚900‚000 $ 800‚000 Policy two $7‚200‚000 $1‚100‚000 Δ Contribution margin (1 – .94) = 6% $48‚000 $66‚000 Δ Bad debt expense (on incremental sales only) Policy one 1.75% ($800‚000) (14‚000) New policy 2.0% ($1‚100‚000) (22‚000) Δ Investment in accounts receivable (incremental sales only) Policy one $800‚000 × 50/365 = $109‚589 Policy two $1‚100‚000 x 65/365 = $195‚890
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Segregation of Duties Matrix (System User-Rights and Permissions Department Jennifer Buster Bradley Lloyd LuEllen Robert Spare Sam Receiving RO RO RO RO RO F BP RO Shipping RO F RO RO F RO BP RO Sales F RO RO RO RO N BP RO Accounts Payable BP N RO N N N BP RO Jennifer’s full time position as Sales would need Sales access for her primary position. She should only have By Position access to Accounts Payable when she is working that position. She would need Read Only for Shipping and Receiving in order
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Complete Exercises E3-4 & E3-9. E3-4 Instructions (a) Describe each transaction. 1. The organization issued shares of stock to stockholders for $20‚000 cash 2. The organization bought $5‚000 machines on account with $1‚000 paid in cash accruing a balance of $4‚000 3. The organization paid $750 for materials 4. The organization receives $4‚100 of cash in return for services provided‚ together with charging $5‚400 from 5. The organization paid $1‚500 with cash on accounts payable. 6. The
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Jones electrical distribution Case Study (Group 10) Q 1‚ How well is “Jones Electrical Distribution” performing? What must Jones do well to succeed? First Quarter 2004 2005 2006 2007 Sales increase 18% 17% ROE 7.6% 13.6% 12.3% 2.0% Sustainable growth rate 7.6% 13.6% 12.3% 2.0% Profit Margin 0.9% 1.5% 1.34% 0.8% Assets turnover 2.76 2.88 2.86 0.70 financial leverage 3.20 3.12 3.23 3.49 Shareholder’s equity 31% 32% 31% 29% From coverage
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HW 8 – 1 ACCOUNTS RECEIVABLE JOURNAL ENTRIES Prepare journal entries to record the following transactions: (1) On December 15‚ 2008‚ the company recorded $150‚000 sales on credit. (2) On December 31‚ 2008‚ the company estimated bad debt expenses of $15‚000. (3) On January 12‚ 2009‚ collect $100‚000 worth of accounts receivable. (4) After many collection attempts‚ the Company determined on June 15‚ 2009 that it would not collect $10‚000 in accounts receivables from Pendant Publishing
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