Chapter 18, Problem 24P

???

I need help with this solution and accounting question

The financial statements of Garner Manufacturing report net sales of $600,000 and accounts receivable of $120,000 and $80,000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days?

What is the book value of machinery

Accounting questions

Darwin Enterprises purchased machinery on January 1, 2021, at a cost of $75,000. The machinery has an estimated useful life of 6 years and an estimated residual value of $9,000. Darwin’s year-end is December 31st. If Darwin uses the straight-line method to depreciate the asset, what is the book value of the machinery on December 31, 2022? (A). $60,000 (B). $53,000 (C). $66,000 (D). $57,000

A machine that originally cost $30,000 and was depreciated on a straight-line basis has one year of its expected 6-year life remaining. Its current market value is $10,000. What is the corporate tax rate is 30%. What is the cash flow from disposing of the old machine? Correct answer

I need help with this solution and accounting question

I need the correct answer to this general accounting problem using the standard accounting approach.