EDI is often used to replace paper documents with electronic documents containing the same information.
Answer the following statement true (T) or false (F)
True
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______________________________ are sent to customers to notify them that their orders have been accepted and to inform them of the expected shipping date
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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?
A check drawn on the bank's own funds is called a(n) ____________________
Fill in the blank(s) with correct word
In a proportionate nonliquidating distribution of his 30% interest in the MNO LLC, Neil received cash ($60,000), land (basis of $40,000 and value of $75,000), and unrealized receivables (basis of $0 and value of $22,000). In addition, Neil is relieved of his $40,000 share of the LLC's liabilities. Neil's basis in MNO (including his share of LLC liabilities) was $80,000 immediately prior to this
distribution. a. How much gain or loss does Neil recognize on this distribution? b. What is Neil's basis in the receivables and land he receives in the distribution? c. What is Neil's basis in the LLC interest following the distribution?