Chapter 17, Problem 17.21P

Sims Inc. had a $195,000beginning balance in Accounts Receivable. During the year, credit sales totaled $820,000, and collections from customers amounted to $700,000. What was the net amount of receivables included in current assets at the end of the year, before any provision for doubtful accounts?

Compute the ending carrying value of the trade name for 2010 and 2011.

Rate of inventory turnover for 2023