Where can the amounts needed to compute the accounts receivable turnover ratio be found?
a. The income statement
b. The balance sheet
c. The statement of cash flows
d. Both (a) and (b).
d
You might also like to view...
A fixed asset with a cost of $41,000 and accumulated depreciation of $36,000 is traded for a similar asset priced at$50,000 (fair market value) in a transaction with commercial substance. Assuming a trade-in allowance of $4,000, atwhat cost will the new equipment be recorded in the books?
a. $50,000 b. $45,000 c. $51,000 d. $54,000
A solvency measure that focuses specifically on the extent to which a company relies on outsiders for funds is:
a. cash flow from operations to capital expenditures ratio b. debt service coverage ratio c. times interest earned ratio d. debt-to-equity ratio
The entry to record the sale of equipment costing $40,000, with accumulated depreciation of $34,000 and sale price of $8,800, is:
a. Cash 8,800 Accumulated Depreciation— Equipment 34,000 Equipment 40,000 Gain on Sale of Equipment 2,800 b. Accumulated Depreciation— Equipment 34,000 Equipment 25,200 Gain on Sale of Equipment 8,800 c. Accumulated Depreciation— Equipment 8,800 Loss on Sale of Equipment 31,200 Equipment 40,000 d. Accumulated Depreciation— Equipment 14,800 Loss on Sale of Equipment 25,200 Equipment 40,000
Which of the following types of sales promotions would NOT be offered to a final consumer?
A) rebates B) push money C) bonus packs D) sweepstakes E) premiums