Answer:
The 50.30 days are required to take its credit customers to pay for their purchases.
Explanation:
For computing the average collection period, we have to use the formula of the average collection period.
Average collection period = Average accounts receivable ÷ Credit sales × total number of days in a year
= $107,900 ÷ $783,000 × 365
= 0.13780 × 365
= 50.30 days
We assume 365 days in a year
The cost of goods sold is irrelevant. Thus, it is not considered in the computation part.
Hence, 50.30 days are required to take its credit customers to pay for their purchases.
Answer:
$10,200
Explanation:
The computation of the deferred income tax expense or benefit is shown below:
Favorable temporary difference = $50,000
Less: Unfavorable temporary difference -$20,000
Net favorable temporary difference $30,000
We assume the tax rate is of 34%
So, the deferred tax expense is
= $30,000 × 34%
= $10,200
By finding out the net favorable temporary difference and then multiplied with the tax rate we can get the deferred tax expense and the same is shown above
Steven needs to create a budget that will list all of his expenses each month with regards to the income he brings in. Once Steven sits down and creates the budget he will see the money that is left over once he is done paying all of his necessary bills. The money that is left over can be saved to purchase a new car.
The things that describes above is that they are all intelligent techniques. These are used in dealing with decision making. In order for the person to know how to deal with the situations and how to cope up by applying the following characteristics in situations.
A compute the company’s net sales for the year
