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nalin [4]
3 years ago
8

Which of the following will most likely give the most assurance concerning the valuation assertion about accounts receivable?A.

Vouching amounts in the subsidiary ledger to details on shipping documentsB. Comparing receivable turnover ratios with industry statistics for reasonablenessC. Inquiring about receivables pledged under loan agreementsD. Assessing the allowance for uncollectible accounts for reasonableness
Business
1 answer:
OlgaM077 [116]3 years ago
6 0

Answer:

Assessing the allowance for uncollectible accounts for reasonableness.

Explanation:

Assessing the allowance for uncollectible accounts for reasonableness give the most assurance concerning the valuation assertion about accounts receivable as The term uncollectible accounts receivable is used to describe the portion of credit sales in accounts receivable the company does not expect to collect from a customer.

Uncollectible accounts is used in the valuation of accounts receivable, which appears on a company's balance sheet.

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Competition among economic units ______. Multiple select question. should not occur within a market system diffuses economic pow
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5 0
2 years ago
Monczka-Trent Shipping is the logistics vendor for Handfield Manufacturing Co. in Ohio. Handfield has daily shipments of a power
olga55 [171]

Answer:

Explanation:

Base on the scenario been described in the question, Monczka-Trent Shipping is the logistics vendor for Handfield Manufacturing Co. in Ohio. Hpower-steering pump from its Ohio plant to anauto assembly line in Alabama. The value of tMonczka-Trent has two options: (1) its standard 2-day shipment or (2) a subcontractor who effective delivery of one day. The extra driver costs $175. Handfield’s holding cost is 35% a The benefit to subcontractor the work where the team will drive overnight with an effective delivery of 1 day =The production issue that has not been included in the above data is that the auto assem Alabama is getting its input from the Ohio plant of power steering pump, thus any cha delivery pattern i.e. changing the duration of shipment might affect the workings of th1 day shipment may lead to over stocking at the assembly line. The delay in transit timproduction issues where this part or component is used. These issues could be related tdevelopment, quality or testing of a product. It could also affect the production processlevels. All of these could cause potential delays in production.

5 0
3 years ago
CMS Corporation's balance sheet as of today is as follows: Long-term debt (bonds, at par) $10,000,000 Preferred stock 2,000,000
Dovator [93]

Answer:

$5,412,000

Explanation:

Given:

Long-term debt (bonds, at par):$10,000,000

Preferred stock :2,000,000

Common stock ($10 par): 10,000,000

Retained earnings: 4,000,000

Total debt and equity :$26,000,000

Coupon rate = 4%(semi annually)

Par value = $1000

YTM = 12%

Required:

Find the current market value of the firm's debt.

Find the bond price:

Bond price = (C * (\frac{1 - (\frac{1}{(1+i)^n})}{i}) + (\frac{m}{(1+i)^n})

= (C * (\frac{1 - (\frac{1}{(1+0.06)^2^0})}{0.06}) + (\frac{1000}{(1+0.06)^2^0})

= 541.20

Bond price = $541.20

Find number of bonds:

Number of bonds = \frac{10,000,000}{1,000} = 10,000

Now, to find the current market value of the firm's debt, use:

Current market value of debt = number of bonds × bond price

= 10,000 × 541.20

= $5,412,000

Current market value of the firm's debt = $5,412,000

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3 years ago
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