Which of the following ratios provides a solvency measure that shows the margin of safety of bondholders and also gives an indication of the potential ability of the business to borrow additional funds on a long-term basis? a. ratio of fixed assets to long-term liabilities b. ratio of net sales to assets c. number of days' sales in receivables d. rate earned on stockholders' equity

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• A company pays its employees $4,250 each Friday, which amounts to $850 per day for the five-day workweek that begins on Monday. If the monthly accounting period ends on Thursday and the employees worked through Thursday, the amount of salaries earned but unpaid at the end of the accounting period is:
• Inverness Steel Corporation is a producer of flat-rolled carbon, stainless and electrical steels, and tubular products. The company's income statement for the 2016 fiscal year reported the following information ($ in millions): Sales $ 6,100 Cost of goods sold 5,100 The company's balance sheets for 2016 and 2015 included the following information ($ in millions): 2016 2015 Current assets: Accounts receivable, net $ 702 $ 602 Inventories 890 814 The statement of cash flows reported bad debt expense for 2016 of $6 million. The summary of significant accounting policies included the following notes ($ in millions): Accounts Receivable (in part) The allowance for uncollectible accounts was $8 and $5 at December 31, 2016 and 2015, respectively. All sales are on credit. Inventories Inventories are valued at the lower of cost or market. The cost of the majority of inventories is measured using the last in, first out (LIFO) method. Other inventories are measured principally at average cost and consist mostly of foreign inventories and certain raw materials. If the entire inventory had been valued on an average cost basis, inventory would have been higher by $460 and $310 at the end of 2016 and 2015, respectively. During 2016, 2015, and 2014, liquidation of LIFO layers generated income of $4, $5, and $23, respectively. Required: 1. Determine the amount of accounts receivable Inverness wrote off during 2016. (Enter your answer in millions.) 2. Calculate the amount of cash collected from customers during 2016. (Enter your answer in millions.) 3. Calculate what cost of goods sold would have been for 2016 if the company had used average cost to val 4. Calculate the following ratios for 2016. (Round "Receivables turnover ratio" and "Inventory turnover ratio" answers to 2 decimal places. Round "Gross profit ratio" answer to nearest percent (i.e., 0.123 needs to be entered as 12%).) ue its entire inventory. (Enter your answer in millions.)
• Consider your current organization or an organization with which you were once affiliated. Is there a dominant change approach in your selected organization? If so, how appropriate is it? What would you need to do in order to modify or replace that dominant approach? Why?
• It ONLY makes sense to implement an ABC system when: A. ABC provides information to make better decisions. B. Its benefits exceed implementation costs. C. ABC traces more costs as direct costs. D. There is a strong cause-and-effect relationship between costs in the cost pools and their cost-allocation bases.
• Here is the revised text:On the first day of the fiscal year, a company issues an $882,000, 8%, five-year bond that pays semiannual interest of $35,280 ($882,000 x 8% x 1/2). It receives cash totaling $829,100. Journalize the entry to record the first interest payment and the amortization of the related bond discount using the straight-line method.
• On October 1, 2018, Auerbach Inc. issued 4% bonds with a face value of $325 million, maturing on September 30, 2028. The bonds pay semiannual interest on March 31 and September 30, starting from March 31, 2019. The market established an effective interest rate of 6%. Assuming Auerbach issued the bonds at $276,649,555, what would be the interest expense recognized in its 2018 income statement? (Do not round intermediate calculations, and round the final answer to the nearest whole dollar.)
• Which of the following would have the least amount of influence on a manager's choice of whichinputs to employ in a production process? Select one: A. The price of a competitor's output. B. The technology of the production process. C. The marginal productivity of the inputs that can be used in the production process. D. The prices of the inputs that can be used in the production process.
• Kingbird Company exchanged equipment used in its manufacturing operations, along with $4,200 in cash, for similar equipment from Oriole Company. The following information pertains to the exchange: Kingbird Co. Oriole Co. Equipment (cost) $39,200 $39,200 Accumulated depreciation $26,600 $14,000 Fair value of equipment $17,500 $21,700 Cash given up $4,200 Prepare the journal entries to record the exchange on the books of both companies, assuming the exchange lacks commercial substance. Kingbird Company's journal entry: ``` Equipment (new) $21,700 Accumulated Depreciation $26,600 Cash $4,200 Loss on Exchange of Equipment $1,300 [$17,500 fair value - ($39,200 cost - $26,600 accumulated depreciation)] Equipment (old) $39,200 ``` Oriole Company's journal entry: ``` Equipment (new) $17,500 Cash $4,200 Accumulated Depreciation $14,000 Equipment (old) $39,200 Gain on Exchange of Equipment $7,500 [$21,700 fair value - ($39,200 cost - $14,000 accumulated depreciation)] ``` Note: The calculation of the loss for Kingbird Co. and gain for Oriole Co. are included to demonstrate the balancing of the entries. However, if these companies’ accounting policies do not recognize gains or losses on non-monetary exchanges that lack commercial substance, these gain or loss lines would be adjusted accordingly by capitalizing the difference onto the new equipment's book value. Please consider the specific accounting policies or standards (such as GAAP or IFRS) that apply in the companies' reporting context.
• During the year, the Senbet Discount Tire Company had gross sales of $1.14 million. The firm’s cost of goods sold and selling expenses were $533,000 and $223,000, respectively. The firm also had notes payable of $880,000. These notes carried an interest rate of 7 percent. Depreciation was $138,000. The firm’s tax rate was 35 percent. What was the firm’s operating cash flow?
• What is another term for accountability?