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A company has net credit sales of $25,000,000, cost of goods sold of $20,000,000, a beginning balance of accounts receivable of $1,245,000 and an ending balance of accounts receivable of $1,650,000. What is the company’s Days’ Sales Outstanding? (round any intermediary calculations to two decimal places and your final answer to the nearest day)

On January 1, 2016, Russo Resort purchased equipment for cash at a cost of $45,000 and an estimated residual value of $3,000. The company depreciates equipment using the straight-line method over 5 years. At December 31, 2018, what amount will be reported for Accumulated Depreciation?  

Thomas LLC has the following accounting records in 2021:                                  Sales revenue          26,250      Beginning Inventory          10,888      Purchases          11,008      Ending Inventory (at weighted average cost)          10,269                                     Thomas earned a gross profit and experienced a gross margin percent, respectively, of:                            

Cash and cash equivalents include:  

Mindcraft Inc. purchased equipment and paid the following:      Cash price  $               35,000 Sales taxes                     2,450 Insurance during transit                         250 Annual maintenance costs                         150 Installation                         900                                                        What amount should be recorded as the cost of the equipment?  

A year-end review of Accounts Receivable and estimated uncollectible percentages revealed the following:      $ 900,000 1-30 days      2%      $ 450,000 31-60 days      3%      $ 145,000 61-90 days    12%      $   80,000 Over 90 days    40% The pre-adjusted balance in Allowance for Uncollectible Accounts was $62,000. Under aging-of-receivables method, the adjustment to record bad debt expense for the period will include:

A company has net credit sales of $5,000,000, cost of goods sold of $3,890,000, a beginning balance of net receivables of $1,245,000, and an ending balance of net receivables of $1,417,000. What is the company’s Days’ Sales Outstanding (rounded)?  

On a bank reconciliation, which of the following would be deducted from the balance per book?

When does the cost of inventory become an​ expense?

Arya Inc. reported the following figures for 2018 and 2017:     2018 2017 Balance Sheet     Total Assets $ 411,339 $ 416,069 Total Liabilities 99,140 98,890 Common stock and additional paid in capital 300,680 300,680 Retained earnings 11,519 16,499 Income Statement     Net sales $ 115,000 $ 98,750 Operating income 95,340 75,450 Net income 45,280 31,420   Compute return on assets (ROA) for 2018. Round percentages to one decimal place.