27. Lind Corp. declared a cash dividend of $50,000 on March 10, year
2, to stockholders of record March 25, year 2, payable on April 5,
year 2. As a result of this cash dividend, working capital
28. The controller of Peabody, Inc. has been asked to present an
analysis of accounts receivable collections at the upcoming staff
meeting. The following information is used:
29. What is the receivables turnover ratio as of December 31, year 2?
30. All but one of the following are required before a transfer of
receivables can be recorded as a sale.
31.Alfisol, Inc. offers sales discounts of 2% on all credit sales paid
within 15 days. For year 1, gross credit sales totaled $150,000 and
75% of Alfisol’s customers took advantage of the discount. Under the
net method
32. The following information is available from Timber Corp’s
financial records for year 1:
33. How many times did Timber’s accounts receivable turn over in
year 1?
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ACC 422 Week 1 DQ 1