Auditing & Assurance Services
6th Edition
ISBN: 9780077862343
Author: LOUWERS, Timothy J.
Publisher: Mcgraw-hill Education,
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Chapter C7, Problem 3DQ
To determine
Explain the impact of Sarbanes-Oxley on GE Company’s fee expense.
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What is the total cost of job number D5673?
Need help answering question B?
Negus Enterprises has an inventory conversion period of 55 days, an average collection period of 42 days, and a payables deferral period of 20 days. Assume that cost of goods sold is 80% of sales. Assume a 365-day year. Do not round intermediate calculations.
A. What is the length of the firm's cash conversion cycle? Round your answer to the nearest whole number.
77 days
B. If annual sales are $4,635,500 and all sales are on credit, what is the firm's investment in accounts receivable? Round your answer to the nearest dollar.
$
C.) How many times per year does Negus Enterprises turn over its inventory? Round your answer to two decimal places.
6.64
Chapter C7 Solutions
Auditing & Assurance Services
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