The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

Question

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Answer 1

Question

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

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Answer 2

Question

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

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Answer 3

Question

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

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Answer 4

Question

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

Answer 6

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

Answer 7

Chapter 5, Problem 1FA

1.

To determine

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

Answer 8

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

Answer 9

2.

To determine

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

Answer 10

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

Answer 11

3. a. and b.

To determine

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

Answer 12

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

Answer 13

4.

To determine

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

Answer 14

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

Answer 15

To determine

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

Answer 16

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Answer 17

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Answer 18

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Answer 19

Ch. 5 - Prob. 1QC Ch. 5 - Prob. 2QC Ch. 5 - Prob. 3QC Ch. 5 - Prob. 4QC Ch. 5 - Prob. 5QC Ch. 5 - Prob. 6QC Ch. 5 - Prob. 7QC Ch. 5 - Prob. 8QC Ch. 5 - Prob. 9QC Ch. 5 - Prob. 10QC

The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

To describe: The revenue recognition policy of Incorporation UA and to identify the major source of revenue under Concentration of Credit Risk section of Note 2.

To identify: The types of customers involved in business with Incorporation UA on account and explain the reasons using Note 2 Concentration of Credit Risk section.

To compute: a. The average daily sales using total revenues and b. Days’ sales outstanding for 2014.

To compute and evaluate: The company's current ratio, quick (acid-test) ratio and working capital for the year 2014 and 2013

To evaluate: the two-year trend of Incorporation UA and explain other information that might be helpful in evaluating these statistics.

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Chapter 5 Solutions