At the end of the current period, a company reported $725,000 in net credit sales and $100,000 in ending accounts receivable. Calculate this company's days' sales uncollected at the end of the current period.
What will be an ideal response?
Days' Sales Uncollected Ratio = Ending Accounts Receivable/Net Credit Sales * 365
Days' Sales Uncollected Ratio = $100,000/$725,000 * 365 = 50.3 days
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Postage Corporation receives management consulting services from its 92 percent-owned subsidiary, Stamp Inc. During 20X7, Postage paid Stamp $125,432 for its services. For the year 20X8, Stamp billed Postage $140,000 for such services and collected all but $7,900 by year-end. Stamp's labor cost and other associated costs for the employees providing services to Postage totaled $86,000 in 20X7 and $121,000 in 20X8. Postage reported $2,567,000 of income from its own separate operations for 20X8, and Stamp reported net income of $695,000.Based on the preceding information, what amount of consolidated net income should be reported in 20X8?
A. $3,122,000 B. $3,254,100 C. $4,050,000 D. $3,262,000
The Norris-La Guardia Act prohibits:
a. states from passing laws to restrict union activities b. holding employers responsible for damages in wage disputes c. workers from having full freedom of association and self-organization d. union or closed shops e. none of the other choices
After being in business for 24 months, Paul's auto spare parts company Chromson Inc. grows to a relatively stable size. Which of the following would be Paul's primary financial management need at this stage?
A. Clearing all debts B. Establishing internal control over assets C. Building owner's wealth D. Implementing bootstrapping techniques
London Plastics has monthly fixed costs of $87,000, while its variable costs are $4.60 per unit. If the sales price of a unit is $14.00 and London Plastics sell 15,000 units, the company's average fixed costs per unit will be
A) $5.80 per unit. B) $9.40 per unit. C) $10.40 per unit. D) $4.60 per unit.