Murphy's Repair has the following outstanding account receivables at the end the month. Calculate the number of days late for each outstanding invoice
Invoice # Bill Date Customer Due Date Age of A/R Current Date
6872 6/15/2008 RLO 7/15/2008 9/30/2008
7100 6/25/2008 JBL 7/25/2008 9/30/2008
7469 7/12/2008 DLL 8/12/2008 9/30/2008
A) 71 days, 61 days, and 16 days
B) 76 days, 66 days, and 48 days
C) 75 days, 65 days, and 48 days
D) 77 days, 67 days, and 49 days
Answer: D
Explanation: D) Current date - due date
You might also like to view...
The corporate officers are responsible for
A) arranging for major bank loans. B) determining corporate policy. C) carrying out corporate policy. D) appointing the board of directors.
Divide the word cooperation into syllables
A) coop er a tion B) co op er a tion C) cooper a tion D) co oper a tion
Patricia has just been offered a full-time position over the phone and has decided that the position isn't right for her. What should she do?
A) Say that she will be back in touch and then do nothing because the employer will figure out soon enough that she isn't going to accept the position. B) Accept the position anyway to ensure that she'll have a back-up plan in case no other offers come in. C) Say no on the phone immediately to save the employer time. D) Thank the employer verbally for the offer and then write a letter reiterating her thanks and briefly explaining that she is turning it down.
Which of the following statements is CORRECT?
A. Assume that two bonds have equal maturities and are of equal risk, but one bond sells at par while the other sells at a premium above par. The premium bond must have a lower current yield and a higher capital gains yield than the par bond. B. A bond's current yield must always be either equal to its yield to maturity or between its yield to maturity and its coupon rate. C. If a bond sells at par, then its current yield will be less than its yield to maturity. D. If a bond sells for less than par, then its yield to maturity is less than its coupon rate. E. A discount bond's price declines each year until it matures, when its value equals its par value.