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Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2010, sales for the company were $80,938 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 52 percent. Account balances follow:
Compute the following turnover ratios. (Do not round intermediate calculations. Round your final answers to 1 decimal place.)
By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory. (Round your answers to 1 decimal place.)
Expenditures were $3,000,000 in 2006 and $2,015,000 in 2007, including a change order in the amount of $15,000. What amount should be added to net capital assets in the governmental activities accounts in 2007?
Accompanying the bank statement was a debit memorandum for bank service charges. On the bank reconciliation, the item:
Describe two ways that the auditors obtain evidence that there are no significant amounts of unrecorded retirements of property.
Plan assets at fair value 78,000 Net periodic pension cost 90,000 Employer"s contribution 70,000 What amount should Payne record as additional minimum pension liability at December 31?
select a region approved by your instructor and choose a trading bloc nafta eu asean etc. within that region.write two
AIU hosts a marketing publication, "The Marketing Scene," which provides a platform for professionals and consumers to discuss new ways of marketing, the effectiveness of advertising trends, specific ad campaigns and the impact this information ha..
Techno Designs produces head covers for golf clubs. The company expects to generate a profit next year. It anticipates fixed manufacturing costs of $126,500 and fixed general and administrative expenses of $82,030 for the year. Variable manu..
You realize that your accounting services are why Eric's Elmhurst Motorcycle has both stayed afloat and even prospered through the years.
Analyze statements about accounting and the recording process. Josh Cephus has prepared the following list of statements about accounts.
the trial balance before adjustment of estefan inc. shows the following balances. dr. cr.accounts receivable dr.
Mary (age 33) is a single taxpayer with adjusted gross income for 2009 of $21,040. Mary maintains a home for two dependent children and has itemized deductions of $3,000. Calculate the following amounts for Mary's 2009 income tax return:
There was no business purpose for Crow Corporation acquiring the land on April 12, 2009. As a result of the distribution what amount of Loss may Crow Corporation recognize on the distribution of the land?
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