FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
25th Edition
ISBN: 9781264753277
Author: Wild
Publisher: MCG
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Textbook Question
Chapter 11, Problem 2AA
Key figures for Apple and Google follow.
Apple | ||||||
Current | One Yeai | Two Years | Cjmont | One Year | Two Years | |
3- millions. | Year | Prior | Prior | Year | Prior | Prior |
Net income....._____ | $43,351 | $45,687 | $53,394 | $12,652 | $19.47B | $16,348 |
Income taxes_________ | 15.738 | 15.685 | 19,121 | 14.531 | 4.672 | 3,303 |
2,323 | 1.156 | 733 | 109 | 124 | 104 |
Required
1. Compute times interest earned for the three years' data shown for each company.
2. hi the current year, and using times interest earned, which company appears better able to pay interest obligations^
3. In the current year, and using times interest earned, is the company in a good or bad position to pay interest obligations for (or) Apple and (£) Google^ Assume an industry average of 10.
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Comparative figures for Apple and Google follow.
$ millions
Apple
Google
Current Year
One Year Prior
Two Years Prior
Current Year
One Year Prior
Two Years Prior
Accounts receivable, net
$ 22,926
$ 23,186
$ 17,874
$ 25,326
$ 20,838
$ 18,336
Net sales
260,174
265,595
229,234
161,857
136,819
110,855
Required:1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google.2. Which company more quickly collects its accounts receivable in the current year?
Question 8
Calculate the average collection period for T&K Inc. if its accounts receivables were $600 at the beginning of a year in which the firm generated $9,125 of sales?
O A. 67 days
OB. 18 days
OC. 24 days
OD. 49 days
Question 13
Calculate the average collection period for Roman Inc. if its accounts receivables were $550 at the beginning of a year in which the firm generated $3,000 of sales?
OA 61 days
OB. 73 days
OC. 60 days
OD.67 days
Chapter 11 Solutions
FUND OF ACCT PRIN(LOOSE-LEAF)+ACCESS
Ch. 11 - Prob. 1QSCh. 11 - Prob. 2QSCh. 11 - Prob. 3QSCh. 11 - QS 11-3
Unearned revenue
C2
Ticketsales, Inc.,...Ch. 11 - Interest-bearing note transactions P1 On November...Ch. 11 - Prob. 6QSCh. 11 - Prob. 7QSCh. 11 - Prob. 8QSCh. 11 - Prob. 9QSCh. 11 - Prob. 10QS
Ch. 11 - Prob. 11QSCh. 11 - Prob. 12QSCh. 11 - Prob. 13QSCh. 11 - Prob. 14QSCh. 11 - Prob. 15QSCh. 11 - Prob. 16QSCh. 11 - Prob. 17QSCh. 11 - Prob. 18QSCh. 11 - Prob. 19QSCh. 11 - Prob. 20QSCh. 11 - Exercise 11-1
Classifying liabilities
C1
The...Ch. 11 - Prob. 2ECh. 11 - Prob. 3ECh. 11 - Exercise 11-3 Accounting for note payable...Ch. 11 - Exercise 11-4 Interest-bearing notes payable with...Ch. 11 - Exercise 11-5 Computing payroll taxes P2 P3
BMX...Ch. 11 - Exercise 11-7 Payroll-related journal entries...Ch. 11 - Exercise 11-6 Payroll-related journal entries...Ch. 11 - Exercise 11-9 Computing payroll taxes P2 P3 Mest...Ch. 11 - Prob. 10ECh. 11 - Prob. 11ECh. 11 - Prob. 12ECh. 11 - Prob. 13ECh. 11 - Prob. 14ECh. 11 - Prob. 15ECh. 11 - Prob. 16ECh. 11 - Prob. 17ECh. 11 - Prob. 18ECh. 11 - Prob. 19ECh. 11 - Prob. 20ECh. 11 - Prob. 21ECh. 11 - Prob. 22ECh. 11 - Problem 11-1A Short-term notes payable...Ch. 11 - Problem 11-2A Entries for payroll transactions P2...Ch. 11 - Problem 11-3A Payroll expenses, withholdings, and...Ch. 11 - Prob. 4PSACh. 11 - Prob. 5PSACh. 11 - Prob. 6PSACh. 11 - Problem 11-1B Short-term notes payable...Ch. 11 - Problem 11-2B Entries for payroll transactions P2...Ch. 11 - Problem 11-3B Payroll expenses, withholdings, and...Ch. 11 - Prob. 4PSBCh. 11 - Prob. 5PSBCh. 11 - Prob. 6PSBCh. 11 - Review the February 26 and March 25 transactions...Ch. 11 - Bug-Off Exterminators provides pest control...Ch. 11 - Prob. 1GLPCh. 11 - Prob. 1AACh. 11 - Key figures for Apple and Google follow. Apple...Ch. 11 - Prob. 3AACh. 11 - Prob. 1DQCh. 11 - Prob. 2DQCh. 11 - Prob. 3DQCh. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Prob. 6DQCh. 11 - Prob. 7DQCh. 11 - Prob. 8DQCh. 11 - Prob. 9DQCh. 11 - Prob. 10DQCh. 11 - Prob. 11DQCh. 11 - Prob. 12DQCh. 11 - BTN 11-3 Cameron Bly is a sales manager for an...Ch. 11 - Prob. 2BTNCh. 11 - Prob. 3BTNCh. 11 - Prob. 4BTNCh. 11 - Prob. 5BTN
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