Assume a company whose sales are all on account provided the following information: Gross margin percentage 40% Cost of goods sold $ 300,000 Accounts receivable balance, beginning of the year $ 20,000 Accounts receivable balance, end of the year $ 30,000 Net income $ 10,000 The average collection period is closest to:

Will you use single-entry bookkeeping or double-entry bookkeeping? explain why.

John has served as the chief operating officer (coo) for business graphics, inc., a publicly owned firm, the past 5 years. which of the following statements about john is correct? both john and the ceo of business graphics must certify to the sec that the firm's financial statements are accurate. as the coo, john will be ranked higher than the ceo but still below the cfo. in john's postition as the coo, it is highly unlikely that he would also be the chairperson of the board of directors. as the coo, john would typically be involved with accounting, finance, and asset purchase decisions.

The year-end financial statements of calloway company contained the following elements and corresponding amounts: assets = $34,000; liabilities = ? ; common stock = $6,400; revenue = $13,800; dividends = $1,450; beginning retained earnings = $4,450; ending retained earnings = $8,400. based on this information, the amount of expenses on calloway's income statement was