Answer:
42 days.
Explanation
Note: The full question is attached as picture below
Account receivable turnover ratio = $612,000 / $70,422
Account receivable turnover ratio = 8.69
Account collection period = 365 / 8.69
Account collection period = 42.00230.
Thus, the firm’s sales uncollected for year is 42 days.
Answer:
1.- Without Retrospective effect
2.- No as it comes from a change in estimations not an accounting error.
3.- yes. It will give a full explanation about the reasons to extend the useful life.
4.- Depreciation expense for 2021: 60,000
Explanation:
1.- The change in the useful life does not represent an accounting error. It comes from the estimation process.
800,000 - 160,000 x 2 = 480,000 book value at beginning 2021
480,000 / 8 new useful life = 60,000 depreciation per year.
<span>Family A: marginal rate 20%, average rate 10%</span><span>
Family B: marginal rate 40%, average rate 23% </span><span>
The marginal tax rate is the rate paid on the last dollar of income; this would be whatever tax bracket the family is in. The average price is the total tax divided by the total revenue. </span><span>
Family A: </span><span>
</span><span>
total income $40,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), and $10,000 at 20% (tax of $2,000). The last rate paid is 20% so that is the marginal rate; the total tax paid is $4,000, divide that by $40,000 total income, that is the average rate. </span><span>
Family B: </span><span>
</span><span>
total income $100,000: this includes $10,000 at 0%, $20,000 at 10% (tax of $2,000), $20,000 at 20% (tax of $4,000), $30,000 at 30% (tax of $9,000), and $20,000 at 40% (tax of $8,000). The last rate paid is 40% so that is the marginal rate; the total tax paid is $23,000, divide that by $100,000 total income, that is the average rate.</span>
Yes, I think it is important to save for retirement as early as 18 years old. I think this so that if anything goes wrong you can have kind of like a safety net.
Answer:
The firm’s 2018 operating cash flow, or OCF is $1,470,000
Explanation:
For computing the operating cash flow, we have to use the formula of cash flow from assets which is shown below
= Operating cash flow - net capital spending - changes in working capital
where,
cash flow from assets = cash flow to creditors + cash flow to shareholders
= $5,000 + $60,000
= $65,000
And, the other item would remain same
Now put these values to the above formula
So, the value would equal to
$65,000 = Operating cash flow - $1,450,000 - (-$85,000)
$65,000 = Operating cash flow - $1,450,000 + $85,000
So, the operating cash flow = $1,470,000
