Principles of Financial Accounting.
24th Edition
ISBN: 9781260158601
Author: Wild
Publisher: MCG
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Question
Chapter 7, Problem 2AA
1)
To determine
Computation of day’s payable outstanding for each company in the most recent two years.
2)
To determine
The company that took more time to pay back the suppliers in the current year.
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Please describe what is meant by “Times Interest Earned.” How is it calculated? Suppose you calculated this ratio for a company for two consecutive years and the results were the following:
year 2018 – 24.0 year 2017 – 28.0
Please interpret the results. What conclusions can you draw?
Use the following question to answer next 10 Questions.
Comprehensive Problem
Dell Company is selling sounds and lights equipment. The company’s fiscal year ends on March 31. The following information relates to the obligations of the company as of March 31, 2021:
Trade payables
Accounts payable for suppliers, goods, and services purchases on open account amount to P1,670,000 as of March 31, 2021 before considering of the following items:
On March 31, 2021, the company has a P50,000 debit balance in its accounts payable to a supplier, resulting from a P50,000 advance payment for goods ordered by the company. The balance also includes an advance payment of P20,000 made by a customer to Dell in anticipation of a purchase to be made by the customer in April 2021. Additional information: Goods were in transit to the company from a vendor on March 31, 2021. The invoice cost was P35,000. The goods were shipped FOB seller on March 29, 2021 and were received on April 4, 2021. Goods shipped FOB…
Use the following question to answer next 10 Questions.
Comprehensive Problem
Dell Company is selling sounds and lights equipment. The company’s fiscal year ends on March 31. The following information relates to the obligations of the company as of March 31, 2021:
Trade payables
Accounts payable for suppliers, goods, and services purchases on open account amount to P1,670,000 as of March 31, 2021 before considering of the following items:
On March 31, 2021, the company has a P50,000 debit balance in its accounts payable to a supplier, resulting from a P50,000 advance payment for goods ordered by the company.The balance also includes an advance payment of P20,000 made by a customer to Dell in anticipation of a purchase to be made by the customer in April 2021.Additional information:Goods were in transit to the company from a vendor on March 31, 2021. The invoice cost was P35,000. The goods were shipped FOB seller on March 29, 2021 and were received on April 4, 2021.Goods shipped FOB…
Chapter 7 Solutions
Principles of Financial Accounting.
Ch. 7 - What are five basic components of an accounting...Ch. 7 - Prob. 2DQCh. 7 - 3. What are the five fundamental principles of...Ch. 7 - Prob. 4DQCh. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - Prob. 8DQCh. 7 - Prob. 9DQCh. 7 - Prob. 10DQ
Ch. 7 - Prob. 11DQCh. 7 - Prob. 12DQCh. 7 - Prob. 13DQCh. 7 - Prob. 1QSCh. 7 - Prob. 2QSCh. 7 - Prob. 3QSCh. 7 - Prob. 4QSCh. 7 - Prob. 5QSCh. 7 - Prob. 6QSCh. 7 - Prob. 7QSCh. 7 - Prob. 8QSCh. 7 - Prob. 9QSCh. 7 - Prob. 10QSCh. 7 - Prob. 11QSCh. 7 - Prob. 12QSCh. 7 - Prob. 13QSCh. 7 - Prob. 1ECh. 7 - Prob. 2ECh. 7 - Prob. 3ECh. 7 - Prob. 4ECh. 7 - Following is information from Jesper Company for...Ch. 7 - Prob. 6ECh. 7 - Prob. 7ECh. 7 - Prob. 8ECh. 7 - Prob. 9ECh. 7 - Prob. 10ECh. 7 - Prob. 11ECh. 7 - Prob. 12ECh. 7 - Prob. 13ECh. 7 - Prob. 1AACh. 7 - Prob. 2AACh. 7 - Prob. 3AACh. 7 - Prob. 1BTNCh. 7 - Prob. 3BTNCh. 7 - Prob. 5BTN
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