An adult patient presents with 44% blasts. The blasts are mo…

An adult patient presents with 44% blasts. The blasts are monomorphic, with abundant basophilic cytoplasm. The majority of blasts show prominent vacuolization (shown below). Cytogenetics shows translocation of the MYC gene (8q24) to the IgH chain locus . What is the diagnosis?

Acme Company makes all sales on account. During the current…

Acme Company makes all sales on account. During the current year, Acme reports a gross margin percentage of 52%, an average accounts receivable balance of $50,000, an average inventory balance of $96,000, a cost of goods sold of $288,000, and net income of $76,000. What is Acme’s average collection period? Round to one decimal place.

On July 1, Acme Company pays the annual premium for an insur…

On July 1, Acme Company pays the annual premium for an insurance policy that covers the 12-month period that begins on July 1. Acme’s accountant makes the proper journal entry on July 1 to record the cash payment to the insurance company and also makes the proper adjusting journal entry on December 31 with respect to this prepaid expense. What is the effect of the December 31 adjusting journal entry on Acme’s current ratio and acid-test ratio?

Acme Company makes all sales on account. During the current…

Acme Company makes all sales on account. During the current year, Acme reports a gross margin percentage of 52%, an average accounts receivable balance of $40,000, an average inventory balance of $96,000, a cost of goods sold of $288,000, and net income of $76,000. What is Acme’s average collection period? Round to one decimal place.