Answer:
Faldo Corp
Customers are paying late by 6.5 days (51.5 - 45)
Explanation:
DSO = Accounts Receivable/Sales last year * 365 days
= $60,000/$425,000 * 365
= 51.5 days
Customers are paying late by 6.5 days (51.5 - 45)
b) Faldo Corp's Days Sales Outstanding (DSO) is an estimate of the number of days it takes Faldo to collect its outstanding accounts receivable. This means that DSO measures how long it takes Faldo's customers to pay an invoice. Faldo can calculate its DSO by dividing the total accounts receivables of last year by the total credit sales of last year. This is then multiplied by 365 days.
Answer:
No adjustment in records can be made until the asset is sold.
Explanation:
This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.
Answer:
4.16%
Explanation:
to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):
future value = present value x (1 + r) ⁿ
- future value = 900
- present value = 450
- n = 17
- r = ?
900 = 450 (1 + r)¹⁷
(1 + r)¹⁷ = 900 / 450 = 2
1 + r = ¹⁷√2 = 1.0416
r = 1.0416 - 1 = 0.0416 or 4.16%
Answer:
4. intangible assets.
Explanation:
Total assets are classified into current assets, fixed assets, and intangible assets.
Current assets comprise cash, stock, receivable account, etc.
Fixed assets include plant & machinery, property, facilities, furniture & equipment, etc.
And, the intangible assets are patents, copyrights, goodwill, and other intellectual properties plus they are not seen or even touched.
Whereas the fixed assets or other related synonymous are tangible in nature
