"Which of the following performance measures will decrease if there is an increase in the accounts receivable" Essays and Research Papers

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    Chapter II Review of Related Literature and Related Studies Related Literature Accounts receivable describes the amount of cash‚ goods‚ or services owed to a business by a client or customer. The manner‚ in which the collection of outstanding bills is handled‚ especially in a small business‚ can be a pivotal factor in determining a company’s profitability. Getting the sale is the first step of the cash flow process‚ but all the sales in the world are of little use if monetary compensation is

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    students. Do the following. 1. Create Daily Express Company and 2014 posting period with sub-periods in months. 2. Enter company details found in the above paragraph. 3. Philippine currency for the local and system currency. 4. Setup payment term N/30 (credit term of 30 days) for both vendors and customers. 5. Change default password of the user manager. 6. Setup the chart of accounts‚ see details in Appendix B. 7. Tag AR‚ Allowance for Bad Debts and AP as Control Accounts. 8. Tag Cash on

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    prenhall.com/arens) and open the Pinnacle income statement‚ which is located in the Pinnacle Income Statement worksheet of the Pinnacle-Financials Excel file. Use the income statement information to prepare a common-size income statement for all three years. Use the information to identify accounts for which you believe there is a concern about material misstatements. Use a format similar to the following: Estimate of $ Amount Account Balance of Potential Misstatement e. Use the three

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    $1‚700‚ and J. Hafner‚ Capital $4‚200. The following transactions were completed during April. (a) General Journal J1 |Date | |Account Titles and Explanation | |Ref. | |Debit | |Credit | |Apr.  4 | |Merchandise Inventory | |120 | |  840 | | | | | |Accounts Payable

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    each of the following separate cases to calculate the unknown amount: a. During October‚ Shandra Company had $97‚500 of cash receipts and $101‚250 of cash disbursements. The October 31 Cash balance was $16‚800. Determine how much cash the company had at the close of business on September 30. b. On September 30‚ Li Ming Co. had a $97‚500 balance in Accounts Receivable. During October‚ the company collected $88‚950 from its credit customers. The October 31 balance in Accounts Receivable was $100

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    The trial balance of Sam Mitchell‚ CPA‚ P.C.‚ is dated January 31‚ 2012: [pic] .:. During February‚ Mitchell or his business completed the following transactions: Feb 4 Collected $4‚000 cash from a client on account. 8 Performed tax services for a client on account‚ $4‚600. 13 Paid business debt on account‚ $2‚400. 18 Purchased office supplies on account‚ $900. 20 Paid cash dividends of $2‚200. 21 Mitchell paid for a deck for his private residence using personal funds‚ $8‚000. 22 Received

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    2011 June 1 Mr. Edgar Detoya opened a bank current account with Land Bank of the Philippines in the amount of P1‚000‚000 and invested merchandise inventory valued at P45‚000 to start with his business. GJ Cash in Bank 1‚000‚000 Merchandise Inventory 45‚000 E. Detoya‚ Capital 1‚045‚000 Initial Investment June 15 Purchased store furniture and fixtures for cash from Ayala de Cebu costing P150‚000 plus VAT of 12%. Issued Check No. 48501 covered by Check Voucher No. 001. CDJ Store Furniture

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    1: Aging Schedule of Accounts Receivable AGE OF ACCOUNT | BALANCE OUTSTANDING | % OF TOTAL BALANCE OUTSTANDING | 0-15 days | $ 20‚000 | 19.59 % | 16-30 days | 30‚000 | 29.39 | 31-60 days | 40‚000 | 39.19 | 61-90 days | 10‚000 | 9.80 | Beyond 90 days | 2‚071 | 2.03 | TOTAL | $ 102‚071 | 100.0 % | 2. To evaluate the credit quality of Aero-Strip’s accounts receivables portfolio‚ we turn to their average collection period (ACP) and aging of accounts receivable. Knowing the ACP enables

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    remittances to the cashier. The cashier prepares a listing of the cash receipts and forwards a copy of the list to the accounts receivable clerk for recording in the accounts. I think that this could be weak because what I think should happen is that the mail clerk should make the list of the receipts and send it to the manger or supervisor where then it is sent to the account receivable clerk for recording. I think by the mail clerk to just send it to the cashier could leave room for errors or fraud

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    SCAN DETAILED LIST OF ACCOUNTS RECEIVABLE (4). 4. Scan the detailed list of trade accounts receivable and investigate significant unusual items (e.g.‚ credit balances and zero balances). Done by Date ..../../.. GUIDANCE: When scanning the detailed list of accounts receivable (aged by customer‚ if practicable)‚ the auditor should be

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