Ethics Case:
TN is the accountant of P.E. Company, one day president of the company asked her to complete annual financial statement and asked her to submit tomorrow as he has meeting with a banker on dinner to take loan for new building that his company is building. TN knows that she will not be able to collect all the information required on the time to make a proper annual financial statement. TN ultimately decides to estimate all the necessary items to make the
1.
To explain: Several other courses of action that she could have taken.
2.
To explain: Course of action.
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FINANCIAL ACCT.FUND.(LOOSELEAF)
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- Using the following select financial statement information from Black Water Industries, compute the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Black Water Industries?arrow_forwardUsing the following select financial statement information from Mover Supply Depot, compute the accounts receivable turnover ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Mover Supply Depot if the industry average is 4 times?arrow_forwardReview the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days sales in receivables ratios for each company for 2018 and 2019. C. Determine which company is the better investment and why. Round answers to two decimal places.arrow_forward
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