Answer:
a. 12 times
b. 30.42 days
Explanation:
Data provided in the question
Sales = $4,560,000
Average account receivable = $380,000
So, The computation is shown below:
a. Account receivable turnover ratio is
= Sales ÷ average account receivable (net)
= $4,560,000 ÷ $380,000
= 12 times
b. Now the number of days sales in receivable is
= Total number of days in a year ÷ account receivable turnover ratio
= 365 days ÷ 12 times
= 30.42 days
Answer:
$12,000 for 2013 and $300,000 for 2018
Explanation:
Jamison Enterprises acquired a franchise to operate a Good Burger Joint in January, 2013. The cost of the franchise was $360,000 and was estimated to have a limited life of 30 years.
Hence the yearly franchise cost at this point is 360,00 / 30 years = $12,000
Early in the year 2018, the franchise was forced out of business due to lawsuits.
At this point the company had only operated for 5 years and have incurred franchise cost to date of 5 years x $12,000 = $60,000
Jamison should record $300,000 ($360,000 - $60,000 to date) balance of the franchise cost in its expenses to their income statement for the years 2018
Answer:on edge
Explanation:
What did Juliet do? She sent the nurse to speak with Romeo
What did the nurse do? She agreed to the quest
What motivated Juliet to make this request? Her desire to marry Romeo
What motivated the nurse to go on this quest? She cares about Juliet's happiness
The answer is: It causes the equilibrium price to decrease in order to increase the demand.
In a situation where consumer's income decrease and the price of the product remain the same, the demand for the product would decrease since there would be less consumers that can afford to buy the product.
For the demand to increase, the equilibrium price of the product need to be decreased so there would be more consumers that can afford it.
YES, The primary focus of financial accounting information is to provide useful information for users to make investing decisions credit decisions
- The financial Accounting provides useful data for external users to make both funding and credit score decisions.
because the financial accounting keeps the tune of all the transactions and economic activities of the commercial enterprise, it allows the users to analyse the health of the corporation to take critical selections.
- Traders use such facts to examine the monetary health of the commercial enterprise and such facts to evaluate with different corporations to make funding choices.
creditors use economic statistics to examine the solvency and creditworthiness and determine whether or not to lend or no longer.
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