stion 5USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMALaccounts payable15merchandise inventory30+--22---51accounts receivablemedical supplies9long term notes payablenursing revenue: 50-- -6.+ - - 44accumulated depreciation -blg4prepaid rent expenseamortization expenseproperty taxes payablebuilding60pension obligation: 278'transportation expense9bonds payable115unearned nursing income 24cash1.Zorro, capital39depreciation expense: 187.Zorro, withdrawalsmarketable securitiesA Moving to the next question prevents changes to this answer.MacBook Air3.

Name: stion 5USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAK
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Description: stion 5USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMALaccounts payable15merchandise inventory30+--22---51accounts receivablemedical supplies9long term notes payablenursing revenue: 50-- -6.+

The current ratio measures capabilities of the company to meet-out short-term obligations or not. it…

Business

Accounting

USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMAL accounts payable 15 merchandise inventory 30 accounts receivable 22 medical supplies 9 long term notes payable nursing revenue 50 accumulated depreciation -blg 4 prepaid rent expense amortization expense 3. property taxes payable 4 pension obligation transportation expense building 60 27 9 bonds payable 8 115 unearned nursing income 24 cash Zorro, capital 39 depreciation expense Zorro, withdrawals :18 marketable securities

USING THE FOLLOWING DATA, CALCULATE THE CURRENT RATIO (X): TAKE ANSWER OUT TO ONE PLACE AFTER THE DECIMAL accounts payable 15 merchandise inventory 30 accounts receivable 22 medical supplies 9 long term notes payable nursing revenue 50 accumulated depreciation -blg 4 prepaid rent expense amortization expense 3. property taxes payable 4 pension obligation transportation expense building 60 27 9 bonds payable 8 115 unearned nursing income 24 cash Zorro, capital 39 depreciation expense Zorro, withdrawals :18 marketable securities

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts.1. Accounts not yet due = $400,000; estimated uncollectible = 8%.2. Accounts 1–30 days past due = $50,000; estimated uncollectible = 15%.3. Accounts 31–90 days past due = $40,000; estimated uncollectible = 30%4. Accounts more than 90 days past due = $30,000; estimated uncollectible = 50%.At 12/31/2021, before recording any adjustments, Zuo has a credit balance of $22,000 in its allowance for uncollectible accounts. Required:1. Estimate the appropriate 12/31/2021 balance for Zuo’s allowance for uncollectible accounts.2. What journal entry should Zuo record to adjust its allowance for uncollectible accounts?3. Calculate Zuo’s 12/31/2021 net accounts receivable balance.
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Based on the following data, what is the accounts receivable turnover? Line Item Description Amount Sales on account during year $481,916 Cost of goods sold during year 220,075 Accounts receivable, beginning of year 44,464 Accounts receivable, end of year 52,698 Inventory, beginning of year 82,460 Inventory, end of year 110,155 a. 4.4 b. 9.9 c. 2.2 d. 10.8
Assume selected financial data for Sun Health Group and Select Medical Corporation, two companies in the health-care industry, are as follows: ($ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Sun Health $2,730 $255 $242 Select Medical 3,040 454 393 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Sun Health and Select Medical.1-b. Which company maintains a higher receivables turnover?
Crell Computers categorizes its accounts receivable into four age groups for purposes of estimating its allowance for uncollectible accounts.1. Accounts not yet due = $60,000; estimated uncollectible = 5%.2. Accounts 1–30 days past due = $15,000; estimated uncollectible = 10%.3. Accounts 31–60 days past due = $10,000; estimated uncollectible = 20%.4. Accounts more than 60 days past due = $5,000; estimated uncollectible = 30%.What should be the balance in Crell’s allowance for uncollectible accounts?
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Subject: accounting
The following select financial statement information from Candid Photography. CANDID PHOTOGRAPHY Year Net Credit Sales Ending Accounts Receivable 2017 $2,988,000 $1,290,450 2018 2019 3,750,860 4,000,350 1,345,600 1,546,550 Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What is the Average Accounts Receivable? What is the Net Credit Sales that would be used? What is the Accounts Relievable Turnover? what is the Days in Receivable Ratio?
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