ACCT 203 Chapter Notes - Chapter 10: Accounts Receivable

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25 May 2018

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Accounting 203 formulas

Profit Margin =

Net income/Net sales

Depreciation Expense, unit of production =

(Cost - Salvage value) / (Units produced x Useful Life)

Depreciation, straight line production =

(Cost - Salvage value) / Useful life

Depreciation, double line production =

2*[(Cost - Accumulated depreciation) / Useful life]

2*(Net book value / Useful life)

Net book value =

Cost - Accumulated depreciation

Accounts Receivable Turnover =

Net sales / [(Beginning balance + Ending balance) / 2]

Net sales / Average accounts receivable

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