15-8. (Cost of accounts receivable) Johnson Enterprises Inc. is involved in the manufacture and sale of electronic components used in small AM/FM radios. The firm needs $300,000 to finance an anticipated expansion in receivables due to increased sales. Johnson’s credit…
15-8. (Cost of accounts receivable) Johnson Enterprises Inc. is involved in the manufacture and sale of electronic components used in small AM/FM radios. The firm needs $300,000 to finance an anticipated expansion in receivables due to increased sales. Johnson’s credit…
16-16.(Ratio analysis) Assuming a 360-day year, calculate what the average investment in inventory would be for a firm, given the following information in each case. a.The firm has sales of $600,000, a gross profit margin of 10 percent, and an…
Interest rate risk 16-12.(Interest rate risk) Two years ago your corporate treasurer purchased for the firm a 20-year bond at its par value of $1,000. The coupon rate on this security is 8 percent. Interest payments are made to bondholders…
E22-19 (Error Analysis; Correcting Entries) A partial trial balance of Julie Hartsack Corporation is as follows on December 31, 2008. Dr. Cr. Supplies on hand $ 2,700 Accrued salaries and wages $ 1,500 Interest receivable on investments 5,100 Prepaid…
E20-7 (Basic Pension Worksheet) The following defined pension data of Doreen Corp. apply to the year 2008. Projected benefit obligation, 1/1/08 (before amendment) $560,000 Plan assets, 1/1/08 546,200 Prepaid/accrued pension cost (credit) 13,800 On January 1, 2008, Doreen Corp., through…
E20-7 (Basic Pension Worksheet) The following defined pension data of Doreen Corp. apply to the year 2008. Projected benefit obligation, 1/1/08 (before amendment) $560,000 Plan assets, 1/1/08 546,200 Prepaid/accrued pension cost (credit) 13,800 On January 1, 2008, Doreen Corp., through…
Problem 7-3A At December 31, 2009, Vizarro Company reports the following results for its calendar-year. Cash sale..$2,184,700 Credit sales. 3,720,000 In addition, its unadjusted trial balance includes the following item. Accounts receivable...$1,127,500 debit Allowance for doubtful accounts.. 29,030 debit Required…
Problem 7-3A At December 31, 2009, Vizarro Company reports the following results for its calendar-year. Cash sale..$2,184,700 Credit sales. 3,720,000 In addition, its unadjusted trial balance includes the following item. Accounts receivable...$1,127,500 debit Allowance for doubtful accounts.. 29,030 debit Required…
Part 3 Cool Cookie Company is considering replacing its giant dough mixer with a new one. The following data have been compiled to evaluate the decision. Existing New Original cost $16,000 $20,000 Annual operating cost $8,000 $6,000 Remaining life…