Fundamental Financial Accounting Concepts, 9th Edition
Fundamental Financial Accounting Concepts, 9th Edition
9th Edition
ISBN: 9780078025907
Author: Thomas P Edmonds, Christopher Edmonds, Frances M McNair, Philip R Olds
Publisher: McGraw-Hill Education
Question
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Chapter 12, Problem 1AE
To determine

Indicate whether the amount are added or subtracted from the amount of net income in determining cash flow from operating activities and identify the items which are reported as investing or financing activities.

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The financial statements of Langford Manufacturing Company report net sales of $620,000 and accounts receivable of $95,000 at the beginning of the year and $55,000 at the end of the year. What is the accounts receivable turnover for Langford?
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