How much does CAE report on its balance sheet for accounts receivable on March 31, 2012? What does that amount represent (how would you explain its meaning to a novice user of financial statements)? How much do CAE's customers actually owe it on March 31, 2012? Why are the two amounts different?
Answer to relevant QuestionsUse the information provided in Exhibit 6.3 to make a complete assessment of CAE’s liquidity position. Discuss the liquidity on March 31, 2012 and compare it with its liquidity on March 31, 2011.What amount of CAE's March 31, 2012 accounts receivable are not overdue? What amount is overdue three months or less? What amount is overdue more than three months? Compare the percentages of overdue receivables on March 31, ...When evaluating its year-end inventory at the end of fiscal 2017, a company determines that its inventory is valued $250,000 to $350,000 above NRV. What is the impact on the balance sheet and income statement in 2017 and ...Why might it be difficult to actually determine the NRV of inventory when applying the lower of cost and NRV rule? Provide some examples of when determining NRV might be difficult.At the 2017 year-end inventory count, some inventory is counted twice (the count shows more inventory than is really there). What is the impact of double-counting inventory on the 2017 and 2018 financial statements? Explain.
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