Hickory Hills Pro Shop had a balance in the Accounts Receivable account of
$800,000 at the beginning of the year and a balance of $900,000 at the end of the
year. Net credit sales during the year amounted to $8,040,000. The accounts
receivable turnover was
1) 9.5 times.
2) 10.1 times.
3) 8.9 times.
4) 9.8 times
Answers: 3
Business, 22.06.2019 04:30
Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)
Answers: 1
Business, 22.06.2019 14:00
How many months does the federal budget usually take to prepare
Answers: 1
Business, 22.06.2019 14:50
The following information is needed to reconcile the cash balance for gourmet catering services. * a deposit of $5,600 is in transit. * outstanding checks total $1,000. * the book balance is $6,400 at february 28, 2019. * the bookkeeper recorded a $1,800 check as $17,200 in payment of the current month's rent. * the bank balance at february 28, 2019 was $17,410. * a deposit of $400 was credited by the bank for $4,000. * a customer's check for $3,300 was returned for nonsufficient funds. * the bank service charge is $90. what was the adjusted book balance?
Answers: 1
Hickory Hills Pro Shop had a balance in the Accounts Receivable account of
$800,000 at the beginnin...
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