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3 years ago

If net sales for the current year were $612,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)

Business

1 answer:

Aneli [31]3 years ago

7 0

Answer:

42 days.

Explanation

Note: The full question is attached as picture below

Account receivable turnover ratio = $612,000 / $70,422

Account receivable turnover ratio = 8.69

Account collection period = 365 / 8.69

Account collection period = 42.00230.

Thus, the firm’s sales uncollected for year is 42 days.

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finlep [7]

Explanation:

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3 years ago

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Accounting information systems integration

Arlecino [84]

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3 years ago

Which formula is correct formatting for a nested function?

erastova [34]

Answer:

=IF(AND(B2>3000,02>2000),"Bonus","No Bonus")

Explanation:

A nested If statement is used when 1 or more conditions are to be tested. The result of the nested function depends based on the true value of the function.

i.e. If the nested statement is true, certain operations are to be done otherwise, do something else. In other words, the IF function allows you to make a logical comparison between a value and what you expect by testing for a condition and returning a result if True or False.

The syntax of a nested function goes thus

IF( condition1, value_if_true1, IF( condition2, value_if_true2, value_if_false2 ))

This would be equivalent to the following in Excel

= IF(condition1,"value_if_true",value_if_false)

Base on the above explanation, only option B is right.

And what it does is that

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3 years ago

Micron owns 35% of Martok. Martok pays a total of $47,000 in cash dividends for the period. Micron's entry to record the dividen

creativ13 [48]

Answer:

1. Option (A) is correct.

2. Option (C) is correct.

Explanation:

1. Micron's entry to record the dividend transaction is as follows:

Cash A/c Dr. $16,450

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(In this case, since the holding interest is more than 20%, Equity method is used)

workings:

Dividend = $47,000 × 35%

= $16,450

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Cash A/c Dr. $12,000

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3 years ago

Suppose Marco is willing to tutor for $15 an hour. On Tuesday, he will tutor Kelly for 1 hour and Mike for 3 hours. Kelly will p

grandymaker [24]

Answer:

Total producer surplus= $30

Explanation:

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Consumer surplus= Market price - Price seller is willing to sell for

Marco is willing to sell at $15 hour

Kelly is willing to pay $30 per hour

Mike is willing to pay $20 per hour

Surplus from Kelly= 30- 15= $15

Surplus from Mike= 20- 15= $5

Total producer surplus= ($15*1 hour) + ($5 *3 hours)

Total producer surplus= 15 + 15= $30

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3 years ago