<span>Net Income After Tax = Net Income Before Tax - Tax
Net Income Before Tax = 170,000-75,500-10,200+(16,500*0.0725)=85,496.25
Tax = 0.35*Net Income Before Tax=0.35*85,496.25= 29,923.69
Net Income After Tax = 85,496.25- 29,923.69 = 55,572.56</span>
Answer:
The question is incomplete, find complete question in the attached.
The receivables turnover for the current year is 9.02 times while average days sales in receivable is 41 days
Explanation:
The formula for computing receivables turnover ratio is given as:
Net credit sales/average accounts receivable,where average receivables is the opening plus closing receivables divided by two.
Net credit sales=$35,657
Average receivables =($3495+$4415)/2=$3955
Receivable turnover ratio=$35657/$3955
=9.02
Average days sales in receivable=number of days in the year/receivable turnover ratio
Average days sales in receivable=365/9.02
=40.47 days approx 41 days
The average days sales in receivable implies the average number of days it takes receivables to settle their accounts
Answer:
The correct answer is C)Opening the mail and recording entries in the sales journal.
Explanation:
It is the correct answer because both activities can be done sitting on the desk, using the same computer. All the other answers refer to activity pairs that would require physical activity, and this would reduce efficiency. For example, making journal records and delivering inventory are extremely disjointed activities, it is like being an accountant and a delivery person at the same job.
