Answer:
35.35 days
Explanation:
For the computation of company’s days’ sales in receivable first we do the following calculations
As we know that
Profit margin = Net income ÷ Sales
0.086 = 187,000 ÷ Sales
Sales = 2,174,418.605
So,
Credit sales = Sales × Sales percentage
= 2,174,418.605 × 0.6
= 1,304,651.163
Receivables turnover ratio = Credit sales ÷ Receivables
= 1,304,651.163 ÷ 126,370
= 10.3241
Now
Days sales in receivables = 365 ÷ Receivables turnover
= 365 ÷ 10.3241
= 35.35 days
If Evelyn Chang is self-employed and that she was able to do
various types of accounting in different organizations and she is a certified
accountant, she is probably or considered to be a certified public accountant
in which this type of accountant may be able to do various types of services in
accounting and can be done in different organizations in which Evelyn Chang is
capable of doing.
Answer:
The correct answer is B
Explanation:
The Schedule B (which is Form 1040), if any of the following conditions are applied:
1. Earned or have taxable interest of $1,500 or the ordinary dividends.
2. Received or collected the interest from the seller who financed mortgaged and the buyer have kept the property as the personal residence.
3. Received or have an accrued interest from bond.
So, In this situation, Robin is the one who earned $1,550 in the corporate bond interest. Therefore, the Robin is required to file the Schedule B as he has earned more than $1,500.
Answer:
If Hickory Manufacturing elects to sue the United States (the IRS is a federal administrative agency) to recover the refund, it must pursue the matter:
D. in United States Tax Court, since the dispute involves a tax matter.
Explanation:
The United States Tax Court is the federal trial court of record for tax disputes. It is like a tribunal, which is inferior to the Supreme Court. It was established by Congress, under Article I of the Constitution in 1969, to hear tax matters and adjudicate tax disputes. Appeals are made directly, from this court, to the appeal court, before the matter can be dragged to the US Supreme Court.
Answer:
Option A
Explanation:
Health standards in developed countries are much better than that of developing and underdeveloped nations. This is due to the advancement made in health infrastructure and medical technology. Also, people in developed nations are much educated to give priority to their health as compared to people living in developing or underdeveloped countries.
Hence, option A is correct
