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Question :Standard Industry Classifications, How are you doing compared to others?
Standard Industry Classification codes (SIC) are used for financial statement "benchmarks" analysis. Your company's financial results would need to be compared to others. SICs provide the format to compare a particular company's financial data to their respective SIC-industry averages.
Explain how you would use SIC codes to analyze a Company Xs Accounts Receivable Turnover of four times per year versus a SIC rate of eight times per year.
s. a. harrington company is a u.s.-based company that prepares its consoli- dated financial statements in accordance
Determine Current Assets, Total Assets and Net Income based on the number.
What account is credited when a corporation issues stock at an amount over the stock's par value and financial statements when cash is received in advance from customers?
Assuming that you have developed a pattern of average % collections over a three or four month collection period, using quantitative or qualitative methods, do you think you can then use this % model to budget cash collections every month in the c..
Prepare the journal entry to record the sale of any job(s) during the month and what is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of?
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills. Click here to access the rubric for this assignment.
Identify where this investment would be classified on the balance sheet of Cookie & Coffee Creations Inc. and explain why. What amount would appear on the balance sheet under each of the methods of accounting for the investment?
Dender Company sold business equipment with a $386,000 initial cost basis and $171,000 accumulated tax depreciation. Calculate Dender's recaptured ordinary income and Section 1231 gain or loss recognized if the amount realized on sale was?
Estimate the July 31 inventory using the gross profit method - prepare the July income statement through gross profit for Kids Costumes.
Develop a personal financial plan detailing the financial goals that you and/or your family have developed - Analyze your personal financial situation using appropriate financial tools
Why does the GAAP not allow a company to use the percentage of sales and the percentage of receivables methods at the same time?
The semiannual interest payment dates are September 1 and March 1. Using the straight line method and ignoring year end accruals, prepare journal entries
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