1. Star Question
Company A reports the following in its financial statements:
*All sales are on credit.
How much did the company A collect in cash from debtors during 2006?  ( ) = $331,979K
How much sales would have been reported by the company in 2006 if Company A would have been using cash accounting and not accrual accounting? $331,979K
Identify which SEC report is the best place to find the following information.
Terms of the CEO’s compensation and the total compensation paid to the CEO in the prior fiscal year. Regulation 14-A (Proxy statement)
Why a firm changed its auditors. Form 8-K (Current Report)
2005
2006
Account Receivable, net
$ 29,865 K
$ 17,886 K
Net sales
$240,000 K
$320,000 K