If a firm has $400,000 in credit sales and $80,000 in average accounts receivable, average days
collections is approximately
A) 11. B) 73. C) 8. D) 182.
C
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On December 31, Strike Company has decided to trade-in one of its batting cages for another one that has a cost of $500,000. The seller of the batting cage is willing to allow a trade-in amount of $40,000. The initial cost of the old equipment was $225,000 with an accumulated depreciation of $195,000. Depreciation has been taken up to the end of the year. The difference will be paid in cash. What
is the amount of the gain or loss on this transaction? A) The gain will not be recognized and will be added to the price of the old equipment. B) The gain will not be recognized and will be added to the price of the new equipment C) The gain will not be recognized and will be subtracted from the price of the old equipment D) The gain will not be recognized and will be subtracted from the price of the new equipment.
The _______________________________ is the most powerful decision-making authority of the European Union and consists of each country's minister for whichever issue is under discussion.
Fill in the blank(s) with the appropriate word(s).
Intentional deceit for personal gain may be unethical but it does not give rise to liability for fraud.
Answer the following statement true (T) or false (F)
In general, a firm's theoretical optimal capital structure is that which balances the tax benefits of debt financing against the increase probability of bankruptcy that result from its use
Indicate whether the statement is true or false