Which 2 things did Professor Urquhart say about zebras?

Expenses to promote sales by displaying and advertising merchandise, make sales, and deliver goods to customers are known as:

Money orders, cashier’s checks, and certified checks are all examples of cash.

An expense resulting from failing to take advantage of cash discounts when using the net method of recording purchases is called:

A company has net sales of $1,200,000 and average accounts receivable of $400,000. What is its accounts receivable turnover for the period?

A merchandiser’s classified balance sheet reports merchandise inventory as a current asset.

Which 2 things did Professor Urquhart say about zebras?

Cushman Company had $800,000 in sales, sales discounts of $12,000, sales returns and allowances of $18,000, cost of goods sold of $380,000, and $275,000 in operating expenses. Gross profit equals:

A 90-day note issued on April 10 matures on:

Using the following year-end information for Bauman, LLC, calculate the current ratio and acid-test ratio:     Cash $ 48,000 Short-term investments   12,000 Accounts receivable   45,000 Inventory   225,000 Prepaid expenses   12,500 Accounts payable   86,500 Other current payables   22,000