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Dividing Accounts receivable, net by Net sales and multiplying the result by 365 is the:

If assets are $99,000 and liabilities are $32,000, then equity equals:

Refer to the following selected financial information from Zanzibar Incorporated. Compute the company’s return on total assets for Year 2.    Year 2 Year 1 Net sales $ 478,500   $ 426,250   Cost of goods sold   276,300     250,120   Interest expense   9,700     10,700   Net income before tax   67,250     52,680   Net income after tax   46,050     39,900   Total assets   317,100     288,000   Total liabilities   181,400     167,300   Total equity   135,700     120,700  

If the credit balance of the Allowance for Doubtful Accounts account exceeds the amount of a bad debt being written off, the entry to record the write-off against the allowance account results in:

During the last lecture, the Professor went to Yahoo Finance. Which metric did he focus on to compare different companies?

The income statement describes revenues earned and expenses incurred along with the resulting net income or loss over a specified period of time, due to earnings activities.

Investing activities include: (a) the purchase and sale of long-term assets, (b) lending and collecting on notes receivable, and (c) the purchase and sale of short-term investments in the securities of other entities, other than cash equivalents and trading securities.

Tang Company reported Cost of goods sold of $835,000, beginning Inventory of $37,200 and ending Inventory of $46,300. The average Inventory amount is:

Horizontal analysis is used to reveal changes in the relative importance of each financial statement item.

If a company purchases equipment paying cash, the journal entry to record this transaction will include a debit to Cash.