P(Z < 3.00) is approximately ____________________
Fill in the blank(s) with correct word
1
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The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $3,000. Net sales for the year were $500,000. In the past, 3 percent of sales have proved uncollectible, and an aging of accounts receivable resulted in an estimate of $20,000 of uncollectible accounts receivable. Using the percentage of net sales
method, the entry to record the Uncollectible Accounts Expense would be: A) Uncollectible Accounts Expense 12,000 Allowance for Uncollectible Accounts 12,000 B) Uncollectible Accounts Expense 15,000 Allowance for Uncollectible Accounts 15,000 C) Allowance for Uncollectible Accounts 18,000 Uncollectible Accounts Expense 18,000 D) Allowance for Uncollectible Accounts 20,000 Uncollectible Accounts Expense 20,000
Use the following information from the current year financial statements of a company to calculate the ratios below:(a) Current ratio.(b) Accounts receivable turnover. (Assume the prior year's accounts receivable balance was $100,000.)(c) Days' sales uncollected.(d) Inventory turnover. (Assume the prior year's inventory was $50,200.)(e) Times interest earned ratio.(f) Return on common stockholders' equity. (Assume the prior year's common stock balance was $480,000 and the retained earnings balance was $128,000.)(g) Earnings per share (assuming the corporation only has common stock outstanding).(h) Price earnings ratio. (Assume the company's stock is selling for $26 per share.)(i) Divided yield ratio. (Assume that the company paid $1.25 per share in cash dividends.)Income statement
data:?Sales (all on credit) $1,075,000Cost of goods sold 575,000Gross profit on sales $ 500,000Operating expenses305,000Operating income$ 195,000Interest expense 20,400Income before taxes$ 174,600Income taxes 74,000Net income$ 100,600??Balance sheet data:?Cash$ 38,400Accounts receivable120,000Inventory56,700Prepaid Expenses 24,000Total current assets$ 239,100Total plant assets708,900Total assets$ 948,000Accounts payable$ 91,200Interest payable4,800Long-term liabilities 204,000Total liabilities$ 300,000Common stock, $10 par480,000Retained earnings168,000Total liabilities and equity$ 948,000 What will be an ideal response?
The universal functions of marketing can be performed by
A. intermediaries. B. consumers. C. producers. D. collaborators. E. all of these.
In preparing a work sheet an adjusted trial balance amount is mistakenly sorted to the wrong work sheet column. Upon completion of the worksheet, the Balance Sheet columns will balance, but with the wrong net income, if the amount sorted in error is:
A. A liability amount placed in the Income Statement Credit column. B. An asset amount placed in the Balance Sheet Credit column. C. A liability amount placed in the Balance Sheet Debit column. D. A revenue amount placed in the Balance Sheet Debit column. E. An expense amount placed in the Balance Sheet Credit column.