Because how do you know whether or not to accept the position. How do you know if it’s the right job for you? Or, what if you have to choose between two appealing offers? Will you feel comfortable with the people you work with?
Answer:
This implies Bolster Soda collects receivables more effectively and quickly than Castor Soda in the two years.
Explanation:
The accounts receivable turnover ratio refers to an accounting ratio that is used to show the how effective a firm is in collecting the receivables or money its clients are owing it.
This implies that accounts receivable turnover ratio is used to determine the extent to which a firm ie effectively managing the credit it gives to customers and how quickly the firm collects that that short-term debt.
The formula for calculating the accounts receivable turnover ratio is as follows:
Accounts receivable turnover ratio = Net credit sales / Average accounts receivable
When the accounts receivable turnover ratio is high, it implies that the company is efficient is collecting debt and a high percentage of its cutomers are paying up their debts.
The account receivable turnover ratios in the question therefore imply Bolster Soda collects receivables more effectively and quickly than Castor Soda in the two years.
1. American institute of architects
2. American medical association
3. Screen actors guild
4. American society of mechanical engineers
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Answer:
Rice Co.
Journal Entries:
April 5:
Debit Inventory $28,000
Credit Accounts Payable (Jax Company) $28,000
To record the purchase of goods, terms 2/10, n/30.
April 6:
Debit Freight-in Expense $700
Credit Cash Account $700
To record the payment of freight costs for goods purchased from Jax Company.
April 7:
Debit Equipment $30,000
Credit Accounts Payable $30,000
To record the purchase of equipment on account.
April 8:
Debit Accounts Payable (Jax Company) $3,600
Credit Inventory $3,600
To record the return of goods to Jax Company.
April 15:
Debit Accounts Payable (Jax Company) $24,400
Credit Cash Discount $488
Credit Cash Account 23,912
To record the full settlement on account.
Explanation:
Rice Co's journal entries are made on a daily basis as transactions occur. They show the accounts to be debited and the ones to be credited in the general ledger. Journal entries are the initial records of transactions made by the company in its accounting system.
