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1 year ago

Confirm accounts receivable ending balances and sales terms, such as right of return and consignment arrangements.

1 answer:

7 0

Confirm accounts receivable ending balances and sales terms, such as right of return and consignment arrangements.-- Existence and accuracy

What is an Accounts Receivable Confirmation?

When an auditor is examining the accounting records of a client company, a primary technique for verifying the existence of accounts receivable is to confirm them with the company's customers. The auditor does so with an accounts receivable confirmation

What does it mean to confirm account?

Account verification is the process of verifying that a new or existing account is owned and operated by a specified real individual or organization. A number of websites, for example social media websites, offer account verification services.

Learn more about Confirm account receivable:

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The January 28, 2017 (fiscal year 2016) financial statements of Caleres, Inc. reported the following information (in thousands):

san4es73 [151]

Answer:

A. 136.2 days

Explanation:

To compute the average days inventory outstanding, first, we have to find out the inventory turnover ratio

Inventory turnover ratio = Cost of goods sold ÷ average inventory

where,

Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2

= ($546,745 + $585,764) ÷ 2

= $566,254

And, the cost of good sold is $1,517,397

Now put these values to the above formula

So, the answer would be equal to

= $1,517,397 ÷ $566,254.50

= 2.67 times

Now, Days in inventory = Total number of days in a year ÷ inventory turnover ratio

= 365 days ÷ 2.67 times

= 136.70 days approx

5 0

3 years ago

Buzz Lightyear has been offered an investment in which he expects to receive payments of $4,000 at the end of each of the next 1

LenaWriter [7]

Answer:

IRR= 21.86%

Explanation:

Giving the following information:

Initial investment (PV)= $10,000

Cash flows (PMT)= $4,000 per year

Number or years (n)= 4

<u>It is extremely difficult to calculate the IRR using the formula. We will use the financial calculator.</u>

Function: CMPD

n= 4

I%= SOLVE = 21.86%

PV= 10,000

PMT= -4,000

IRR= 21.86%

6 0

3 years ago

Marginalâ€‹ cost-benefit analysis and the goal of the firmâ€ƒâ€ƒâ€ƒKenâ€‹ Allen, capital budgeting analyst for Ballyâ€‹Gears, In

mafiozo [28]

Answer:

a.The marginal (added) benefits of the proposed new robotics.

$195,000

b. The marginal (added) cost of the proposed new robotics.

-$227,200

c. The net benefit of the proposed new robotics.

loss = -$32,200

d. What should Ken recommend that the company do? Why?

Based only on this analysis, the company should keep the old robotics. The new robotics are too expensive and do not generate enough benefits.

e. What factors besides the costs and benefits should be considered before the final decision is made?

increases in efficiency and reductions in manufacturing time.

Explanation:

Marginal cost benefit analysis refers to analyzing the additional benefits of a new project or activity compared to the benefits generated by an alternative project or activity.

In this case, both alternative should be evaluated as follows:

alternative 1 alternative 2 marginal

keep robotics change robotics benefits

revenue (in $446,000 $568,000 $122,000

today's $)

required invest. $0 -$227,200 -$227,200

old robotics $0 $73,000 $73,000

<u>sales value </u>

marginal benefits / losses -$32,200

6 0

3 years ago

List two components of visual aids that you have used recently. Describe how you used them.

gavmur [86]

Explanation:

PowerPoint:

Probably the most obvious type of visual support is Microsoft PowerPoint. Best used, it can really support you for your presentation; it could have the reverse effect, but it was poorly used.

The concepts are as follows:

Use a sufficiently big font (at least 20pt).

Keep your background straightforward.

If appropriate, use graphics.

Make things visual.

Use endless bullet point list slides that are all the same

Don't

You can not read it so small.

Use a picky image from the background.

The screen is white or black.

Do not over-do it – it's annoying.

Use neverending bullet point list slides that all look the same

Paper handouts :

Handouts are extremely helpful. Use a presentation if your data is too comprehensive for a slide, if you really want your spectators to have their findings fully recorded. Take into account the merits of your presentations at the start, middle and end. Given too long and a diversion they could show. Given too late, too many needless references may have been made by the audience. Provided in the midst and the viewers will read and not listen predictably. One powerful way to prevent these troubles is to give the key steps during your presentation incomplete presentations. The lost details can be highlighted vocally and your viewer can then fill up the gaps.

7 0

3 years ago

Read 2 more answers

A fashion academy in Chicago promoted its products by collaborating with various film companies and allowing them to use its clo

nasty-shy [4]

Answer:

Product placement

Explanation:

From the question we are informed about fashion academy in Chicago which promoted its products by collaborating with various film companies and allowing them to use its clothing and jewelry in the films. The academy also associated with television shows in which fashion is one of the attracting elements for the viewers. In this case, the best describes the action of the fashion academy is Product placement.

Product placement can be regarded as form of advertising whereby branded goods/services are been featured in a production with a large targets audience. Often, this product placement is been regarded as "embedded marketing". The product placements could be typically found in television shows as well as movies. companies may give payment in terms of cash or goods to production company in exchange for product placement rights.

6 0

3 years ago