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1. Ronald Distributors is a growing company whose ability to raise capital has not been growing as quickly as its expanding assets and sales. Ronald local banker has indicated that the company cannot increase its borrowing for the foreseeable future. Ronald suppliers are demanding payment for goods acquired within 30 days of the invoice date, but Ronald customers are slow in paying for their purchases (60 to 90 days).
As a result, Ronald has a cash flow problem. Ronald needs $160,000 to cover next Friday payroll. Its balance of outstanding accounts receivable totals $1,000,000.What might Ronald do to alleviate this cash crunch? Record the entry that Ronald would make when it raises the needed cash. (Assume a 2% service charge.)
What is the breakeven point if Mount Carmel's tax rate is reduced to 25%, assuming the sales mix is 2 units of Product A for each unit of Product B?
Discuss how the quantity expansion of euro money would change the value of euro, exchange rate (depreciation or appreciation) against other currencies, and exports and imports in the EU. How would this contribute to EU's current account balance a..
The ad captured Wilde's attention, in part because he recently had been concerned that the interest charges incurred by his business were getting out of line. The price, though, was somewhat higher than prices for this model he had seen elsewhere.
Assume Candy Company accounts for accumulated depreciation by eliminating the accumulated depreciation against the gross carrying amount of the asset and restating the net amount to the revalued amount of the asset.
1-When you combine costs and cash expenses, you have four possible combinations.
uncle john promised tom come and take care of me and i will leave you the farm when i die. tom took care of uncle john
Calculate the depreciation for the year ending 31st December 2016 using each of the following methods: i) Straight Line ii) Units of production
What journal entry is needed torecord the payroll from the week prior (week ending 05/22, payroll computation happening on Tuesday 05/26).
like chou the president of digitech computer service needs your help. he wonders about the potential effects on the
What was the balance of accounts receivable on January 1, 2016, if $180 in accounts receivable were written off during 2016 and if the allowance account had a balance of $930 on December 31, 2016?
Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?
The amount shown as inventory was determined by physical count on December 31, 2010. The company uses the periodic method of inventory.
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