Freeman Co. had net sales of $4.2 million and ending accounts receivable of $0.8 million. Its days' sales uncollected equals:
A. 19.2 days.
B. 5.3 days.
C. 69.5 days.
D. 11.5 days.
E. 292 days.
Answer: C
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Between 2015 and 2016, the dollar
Answer the next question on the basis of the table below, which shows the exchange rate between various currencies and the U.S. dollar. December 2015 Exchange Rate December 2016 Exchange Rate Currency (dollars per unit of foreign currency) (dollars per unit of foreign currency) Mexican peso $0.07 $0.09 Swiss franc $1.10 $1.05 Japanese yen $0.010 $0.012 British pound $1.64 $1.58 a. depreciated against the franc; depreciated against the pound. b. appreciated against the franc; appreciated against the yen. c. depreciated against the peso; appreciated against the pound. d. depreciated against the peso; appreciated against the yen.
The Allowance for Bad Debts account has a debit balance of $8000 before the adjusting entry for bad debts expense. After analyzing the accounts in the accounts receivable subsidiary ledger using the aging-of-receivables method, the company's management estimates that uncollectible accounts will be $15,000. What amount of bad debts expense will be reported on the income statement?
A) $4000 B) $23,000 C) $7000 D) $15,000
The average flow time for the jobs listed in the table below under the longest processing time (LPT) rule is ______.
A. 27.4 days
B. 24.4 days
C. 23.4 days
D. 26.7 days
Nordstrom, Macy's, and JCPenney are all considered
A. department stores. B. discount stores. C. off-price retailers. D. specialty retailers. E. category killers.