I have to say AIDS. Hope this could help. :)
Assuming that the amount of money he buys the car for + gas, maintenance, etc. costs outweighs the cost saved by biking or public transportation (if he's OK with doing those two), he should probably consider walking, biking, or using public transportation for those few years
Answer:
Firm’s sales uncollected for year is 42 days.
Explanation:
Account receivable turnover ratio = $621,000 / $70,422
Account receivable turnover ratio = 8.69
Thus, accounts receivable turnover ratio is 8.69
Average collection period = 365 / Account receivable turnover ratio
Average collection period = 365 days / 8.69
Average collection period = 42.00
Thus, firm’s sales uncollected for year is 42 days.
Answer:
Dec.31 Bad Debts Expense 27000
December 31 Balance Sheet Accounts Receivable 392400
Explanation:
Harris Company
Credit Sales for the current year $2700,000
Credit Losses = 1% of $ 2700,000= $ 27000
Add Allowance for Doubtful Accounts $ 30600 Cr
Required Adjustments $ 57,600 Cr
General Journal
Date Description Debit Credit
Dec.31 Bad Debts Expense 27000
Allowance for Doubtful Accounts 27000
December 31 Balance Sheet.
Accounts Receivable $450,000
Less: Allowance for Doubtful Accounts $57,600 ( 27000+ 30,600)
Accounts Receivable 392400
Answer:
(a) 2 and 9
(b) 5, 6 and 7
(c) 1, 4 and 8
(d) 3
Explanation:
(a) financial statement audits,
2. Determine whether an advertising agency’s financial statements are fairly presented in conformity with GAAP. ( independent (external) auditors )
9. Report on the need for the states to consider reporting requirements for chemical use data. d governmental auditors Render a public report on the assumptions and compilation of a revenue forecast by a sports stadium/racetrack complex. ( independent (external) auditors )
(b) compliance audits,
5. Investigate financing terms of tax shelter partnerships. ( governmental auditors (IRS) )
6. Study a private aircraft manufacture’s test pilot performance in reporting on the results of text fights ( internal auditors )
7. Conduct periodic examinations by the U.S. Comptroller of Currency of a national bank for solvency. ( governmental auditors )
(c) economy and efficiency audits, and
1. Analyze proprietary schools’spending to train students for low-demand occupations ( governmental auditors )
4. Compare costs of municipal garbage pickup services to comparable services subcontract to a private business. ( internal auditors )
8. Evaluate the promptness of materials inspection in a manufacture’s receiving department. ( internal auditors )
(d) program results audits.
3. Study the effectiveness of the Department of Defense’s expendable launch vehicle program. ( governmental auditors )
