<em>MISSING INFORMATION:</em>
concept // Year 2 // Year 1
Sales 7,620 7,450
Account Receivables 655 588
Answer:
Yes, there is. The days to collect increase by 4.16 to 29.77 from 26.61
Which is a bad sing as the company delays more to collect form their customers
Explanation:
Account Receivable turnover:
Average receivable:
(458 + 588 ) / 2 = 523
7,450 / 523 = 14.25
Days to collect: 365 / 14.25 = 25,61
Second Year:
Average receivable: (655 + 588) / 2 = 621.5
Turnover: 7,620 / 621.5 = 12.26
Days to collect: 365 / 12.26 = 29,77
29.77 - 25.61 = 4.16
Answer:
$8,000
Explanation:
Given that
Profit = $1,200
Cost = 85% of sales
Profit = 15%
We know that
Sales = Cost + Profit
= 85% + 15%
= 100%
So sales percentage is 100%
Now we use the unitary method to find out the extra sales which would be
= Profit × sales percentage ÷ profit percentage
= $1,200 × 100% ÷ 15%
= $8,000
Electric bill payable Liability
<h3>Is an electric bill considered a liability?</h3>
In our example, the utility bills for gas and electricity used in December are both an expense and a liability as of December 31.
When the utility bills are paid, the liability is eliminated.
To learn more about liability, refer
to brainly.com/question/24553900
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