Se the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of goods sold using Net sales as the base. Year 2 Year 1 Net sales $ 358,200 $ 295,400 Cost of goods sold 174,400 131,540 Operating expenses 63,490 61,190 Net earnings 32,020 22,770

Acompany has $80,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. experience suggests that 6% of outstanding receivables are uncollectible. the current credit balance (before adjustments) in the allowance for doubtful accounts is $1,200. the journal entry to record the adjustment to the allowance account includes a debit to bad debts expense for $4,800. true or false

Peter, the marketing manager of a company that manufactures church furniture, has been given the job of increasing corporate profits by five percent during the upcoming year. peter decided to give his assistant the full responsibility and authority for developing a mailing campaign to target churches in an entire state. in other words, peter has

Of the following combinations of financial instruments, which depicts the correct ranking of high to low risk (moving from left to right)? commercial paper; preferred stock; bankers' acceptances state & local government bonds; u. s. treasury bonds; aaa-rated corporate bonds common stock; leases; u. s. treasury notes preferred stock; common stock; u. s. treasury bills