Scientific equipment manufacturing (a problem created by dr. bober) consider the following financial data from the past year for scientific equipment manufacturing: gross $32,280,000 total $30,126,000 total credit $22,560,000 net $5,400,000 cost of goods $18,000,000 total $16,200,000 average $4,525,000 average $6,275,000 questions: a) compute the receivables turnover ratio b) compute the inventory turnover ratio c) compute the asset turnover ratio

Which of the following differentiates cost accounting and financial accounting? a. the primary users of cost accounting are the investors, whereas the primary users of financial accounting are the managers. b. cost accounting measures only the financial information related to the costs of acquiring fixed assets in an organization, whereas financial accounting measures financial and nonfinancial information of a company's business transactions. c. cost accounting measures information related to the costs of acquiring or using resources in an organization, whereas financial accounting measures a financial position of a company to investors, banks, and external parties. d. cost accounting deals with product design, production, and marketing strategies, whereas financial accounting deals mainly with pricing of the products.

Cynthia is a hospitality worker in the lodging industry who prefers to cater to small groups of people. she might want to open a

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.