Accounts Receivable Turnover = Net Sales/Average Net Account Receivables Accounts receivable turnover ratio measures the effectiveness of a company in extending credit and collecting debts. It is an activity ratio that measures how efficiently a firm uses its assets. Year ABC DEF GHI Industry Average 2012 31‚ 053/988 = 31.43 16‚842/1‚282.5 = 13.13 5‚160/618 = 8.35 17.64 2013 32‚722/1‚042 = 31.4 18‚657/937 = 19.91 5‚858/494 = 11.86 21.06 In this table you see the accounts receivable turnovers from
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innovation‚ and social transformation. Its ideas were grounded in the claim that divine truth could be known intuitively. Based in New England and existing in various forms from the 1830s to the 1880s‚ transcendentalism is usually considered the principal expression of romanticism in America. Many prominent ministers‚ reformers‚ and writers of the era were associated with it‚ including Ralph Waldo Emerson (1803–1882)‚ Henry David Thoreau (1817–1862)‚ Margaret Fuller (1810–1850)‚ Theodore Parker (1810–1860)
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returns and allowances‚ $30‚000 Gross profit‚ $490‚000 Accounts receivable‚ $110‚000 Sales discounts‚ $14‚000 Allowance for doubtful accounts credit balance‚ $1‚200 How much is bad debt expense assuming that 5% of accounts receivable is estimated to be uncollectible? A. $5‚500 B. $6‚700 C. $4‚240 D. $4‚300 Answer: Bad debt expense ($4‚300) = 5% of accounts of accounts receivable (5% $110‚000) - allowance for doubtful accounts credit balance ($1‚200). 3) Which of the following journal
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Definition: A current account deficit is when a country’s government‚ businesses and individuals import more goods‚ services and capital than they export. That’s because the current account measures trade‚ as well as international income‚ direct transfers of capital‚ and investment income made on assets‚ according to the Bureau of Economic Analysis. When those within the country rely on foreigners for the capital to invest and spend‚ that creates a current account deficit. Depending on why the
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needs to improve some of the internal controls over its revenue cycle procedures. Existence or Occurrence From Bradmark’s data files on sales invoices‚ cash receipts and list of customers‚ the ACL software was used to compute and determine the Accounts Receivable balances of customers in the books. January 20‚ 2005 United City 920 4 th Street Bridgewater‚ New Jersey 8807 Dear Sir/Madam‚ In connection with an examination of our financial statements by Ross & Specter Co.‚ Certified Public
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the speech. The speech which i got was very good and very big also. On the next day Independence Day was celebrated.That day was celebrated in the assembly ground. The principal mam and the vice principal mam were sitting in the front. All the teachers and children were sitting at the back of the principal mam and vice principal mam. Then the children were asked to start telling their speech. And everybody spoke very well.Then my chance came to tell the speech and i also spoke very well. My class
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A01 Profit and loss account: A profit and loss account calculates the amount of gross and net profit that a business takes on an annual basis; it also outlines the loss which has occurred through the business‚ through necessary overheads. There are many aspects included within a profit and loss account‚ all of which I am going to briefly explain. It is important to have a profit and loss account within a business to enforce correct usage of the money. The company will be able to see where the business
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dehydration. Dehydrations can be very harmful to the very young and elderly. But they are still contagious from when they begin to feel sick till three day or as long as two weeks after they are well. This makes controlling the disease more difficult. There are vaccines or drugs to either prevent or treat people with Norovirus. The only preventions are to practice proper hand washing hygiene when either preparing food‚ especially after using the toilet and changing diapers. Cleaning and disinfect contaminated
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credit sales of $5.60 million for year 2010. Chiller estimates that 1.32% of the credit sales will not be collected. Historically‚ 4% of outstanding accounts receivable is uncollectible. On December 31‚ 2010‚ the company’s Allowance for Doubtful Accounts has an unadjusted credit balance of $3561. Chiller prepares a schedule of its December 31‚ 2010‚ accounts receivable by age. Based on past experience‚ it estimates the percent of receivables in each age category that will become uncollectible. This information
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Should there be requirement for immigration? What you’re opinion on it? Some people say that there is no requirement to stay in the United States. Some immigrants have said that coming to the United Sates was one of the hardest thing they ever had to do. Some immigrants come from places like Cuba‚ Mexico‚ China‚ India‚ Philippines‚ and much more…. Some immigrants have come from the age of 16 years old all the way to the age of 35 years (old). American has great education and opportunities that can
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