Fundamental Accounting Principles -Hardcover
Fundamental Accounting Principles -Hardcover
22nd Edition
ISBN: 9780077862275
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
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Chapter 11, Problem 16DQ
To determine

Current Liabilities:

The liabilities incurred due to day to day operations of business and short-term liabilities which has maturity period not exceeding 12 months are called current liabilities.

To determine:

Identify the current liabilities of Samsung as of December 31, 2013.

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Hudson Drilling & Mining (HDM) currently generates $90,000 in annual credit sales. HDM sells on terms of net 45, and its accounts receivable balance averages $15,000. HDM is considering a new credit policy with terms of net 30. Under the new policy, sales will decrease to $85,000, and accounts receivable will average $17,000. Compute the days sales outstanding (DSO) under the existing policy and the proposed policy.
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Fundamental Accounting Principles -Hardcover

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