Thomas BookSales, Inc., supplies textbooks to college and university bookstores. The books are shipped with a proviso that they must be paid for within 30 days but can be returned for a full refund credit within 90 days. In 2014, Thomas shipped and billed book titles totaling $780,000. Collections, net of return credits, during the year totaled $711,561. The company spent $304,625 acquiring the books that it shipped.
a. Using accrual accounting and the preceding values, show thefirm's net profit for the past year.
b. Using cash accounting and the preceding values, show thefirm's net cash flow for the past year.
c. Which of these statements is more useful to the financialmanager? Why?
Answers: 2
Business, 21.06.2019 15:20, Chrisis9987
The beginning inventory is expected to be 2,000 cases. expected sales are 10,000 cases, and the company wishes to begin the next period with an inventory of 1,000 cases. the number of cases the company must purchase during the month is multiple choice 9,000 cases. 10,000 cases. 11,000 cases. 13,000 cases.
Answers: 1
Business, 22.06.2019 20:00, payshencec21
Ajax corp's sales last year were $435,000, its operating costs were $362,500, and its interest charges were $12,500. what was the firm's times-interest-earned (tie) ratio? a. 4.72b. 4.97c. 5.23d. 5.51e. 5.80
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Business, 22.06.2019 21:30, isabellesmith51317
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Answers: 3
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