Compute the average number of days Incorporation T’s accounts payable is outstanding.

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Answer 1

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Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

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Problem No. 2 The trial balance of Cleint Lumanao Nacho Supplies on February 10, 2025, before accepting Shila Tajonera as partner is shown as follows: Account Title Debit Credit Ato Cash reening smuo P 100,000 Accounts Receivable 250,000 Allowance for Uncollectible Accounts P 20,000 o Merchandise Inventory Equipment Accumulated Depreciation Accounts Payable Notes Payable 120,000 275,000 55,000 50,000 82,000 538,000 Lumanao, Capital Total P 745,000 P 745,000 Tajonera offered to invest cash to get a capital credit equal to one-half of Lumanao's capital after giving effect to the adjustments below. Lumanao accepted the offer. Valuation of some of the assets and liabilities of Lumanao, as agreed by the partners, are the following: • The merchandise is to be valued at P93,000. The accounts receivable is estimated to be 90% collectible. • The equipment is to be valued at P200,000. The partners also agreed that the name of the partnership will be Nacho Business. Required: 1. In the books of…

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Answer 2

Question

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Answer 6

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

Answer 7

Chapter 9, Problem 4AP

1.

To determine

Compute the average number of days Incorporation T’s accounts payable is outstanding.

Answer 8

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Answer 9

2.

To determine

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Answer 10

Expert Solution & Answer

Answer 11

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Answer 12

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Answer 13

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Compute the average number of days Incorporation T’s accounts payable is outstanding.

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Compute the average number of days Incorporation T’s accounts payable is outstanding.

Comment on Company T’s average number of days that accounts payable are outstanding to the industry average.

Want to see the full answer?

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