The following annual account balances are taken from ProTeam Sports at December 31. What is the change
Question:
The following annual account balances are taken from ProTeam Sports at December 31.
What is the change in the number of days’ sales uncollected between years 2010 and 2011? According to this analysis, is the company’s collection of receivables improving?Explain.
Transcribed Image Text:
2011 $ 75,692 70.484 2,591.933 2,296,673 2010 Accounts receivable.. Net sales.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (16 reviews)
Interpretation The collection of accounts receivable seems to be ...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Question Posted:
Students also viewed these Cost Accounting questions
-
The following annual account balances are taken from Mizuno Sports at December 31. What is the change in the number of days' sales uncollected between years 2010 and 2011? According to this analysis,...
-
The following annual account balances are taken from Armour Sports at December 31. What is the change in the number of days sales uncollected between years 2012 and 2013? (Round the number of days to...
-
The following selected account balances are taken from the financial statements of Mandrich Inc. at year end prepared using IFRS: At December 31, 2012, the following information is available: 1....
-
Hybrid Corporation began operations in 2018 and during that year purchased equity investments. It owns less than 20% of the voting shares for all companies whose stock it purchased. The year-end cost...
-
A tank containing 20 kg of water at 20oC is fitted with a stirrer (hat delivers work to the water at the rate of 0.25 kW. How long does it take for the temperature of the water to rise to 30oC if no...
-
if $1176.00 accumulates to $1818.87 in three years, nine months compounded quarterly, what is the effective annual rate of interest? the effective annual rate of interest is %
-
Find the = 0.10 critical value for the chi-square distribution with 4 degrees of freedom.
-
The following probability distributions of job satisfaction scores for a sample of information systems (IS) senior executives and middle managers range from a low of 1 (very dissatisfied) to a high...
-
Standard deviation and value at risk (VaR) are statistical models that are widely used to measure the risk of a portfolio or an asset. Discuss how the use of such statistical models could result in...
-
The gecko is a reptile with an amazing ability to climb smooth surfaces, including glass. Recent discoveries indicate that geckos stick to smooth surfaces via van der Waals interactions between...
-
Cruz Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close of business on June 30, 2011, its Cash account shows an $11,352 debit...
-
Management uses a voucher system to help control and monitor cash disbursements. Identify and describe at least four key documents that are part of a voucher system of control.
-
On August 3, 2007, the date of incorporation, the Quinn Company accepts separate subscriptions for 1,000 shares of $100 par preferred stock at $104 per share and 9,000 shares of no-par,...
-
Given the following financial statement data, calculate the net operating cycle for this company. The net operating cycle of this company is closest to: A. 3.8 days. B. 24.3 days. C. 51.7 days. In...
-
Which company had the highest number of days of receivables for the year 20X1? A. Company A. B. Company B. C. Company C. Mary Gonzales is evaluating companies in the office supply industry and has...
-
The industry average receivables collection period: A. increased from 20X1 to 20X2. B. decreased from 20X1 to 20X2. C. did not change from 20X1 to 20X2. Mary Gonzales is evaluating companies in the...
-
Which company reduced the average time it took to collect on accounts receivable from 20X1 to 20X2? A. Company B. B. Company C. C. Company D. Mary Gonzales is evaluating companies in the office...
-
Let \(C\) denote Cantor's discontinuum which is obtained if we remove recursively the open middle third of any remaining interval: \[[0,1] \leadsto\left[0, \frac{1}{3} ight] \cup\left[\frac{2}{3}, 1...
-
Explain the underlying principle and the necessary conditions for implicit contracts in the labor market to be selfenforcing.
-
Sue Deliveau opened a software consulting firm that immediately paid $2,000 for a computer. Was this event a transaction for the business?
-
What are influence costs?
-
Raphael Corporations common stock is currently selling on a stock exchange at $ 85 per share, and its current balance sheet shows the following stockholders equity section: Preferred stock 5%...
-
Weiss Company is incorporated at the beginning of this year and engages in a number of transactions. The following journal entries impacted its stockholders equity during its first year of...
-
At December 31, the end of Chilton Communications third quarter the following stockholders equity accounts are reported: Common stock, $ 10 par value . . . . . . . . . . . . . . . . . . . . . . . . ....
-
If cluster membership is determined by examining the squared distance of each respondent's position from the initial cluster centers, list the respondents assigned to initial Cluster#1 (5 points) ...
-
A tall pitot-static tube is mounted through and 1.5-mabove the roof of a performance car such that it senses thefreestream flow. Estimate the static, stagnation, and dynamicpressure sensed at 325 kph...
-
How does the perception of organizational justice affect employee motivation and job satisfaction, and what can organizations do to promote a sense of fairness and equity ?
Study smarter with the SolutionInn App