A company reports the following: Sales ............................................................ $1,460,000 Average accounts receivable (net) ................ 100,000 Determine (a) The
Question:
A company reports the following:
Sales ............................................................ $1,460,000
Average accounts receivable (net) ................ 100,000
Determine
(a) The accounts receivable turnover and
(b) The number of days’ sales in receivables. Round to one decimal place.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
A Credit sales average accounts receivable 1460000 100000 146 B ...View the full answer
Answered By
Trisha Mae Ruaza
Teaching is my passion. Since I was a grade school, I always dreamt of becoming a pre-school teacher. However, my course was not inclined into teaching pre-school student. Nonetheless, I still pursue my dream course along while doing side hustle jobs like tutoring on the subject of my course.
One of my tutoring experience is when I get to teach my block mates on the topics they're having a hard time understanding. Aside from that, I am also a Course Hero tutor handling Accounting, Business, Management, and Finance Subject.
0.00
0 Reviews
10+ Question Solved
Related Book For
Accounting
ISBN: 9781337902687
28th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
The condensed income statement for the International Division of King Industries Inc. is as follows (assuming no service department charges): Sales $1,288,000 Cost of goods sold 579,600 Gross profit...
-
The table below represents the opinions of a sample of 200 people broken down by gender about the latest congressional plan to eliminate anti-trust exemptions for professional baseball For Neutral...
-
A company reports the following accounts on its classified balance sheet: Additional paid in capital ...... Accounts receivable Land .............. Bonds payable, due in 10 years Treasury stock...
-
Junes Garden Supplies purchases merchandise on account from Lawn Supplies, Inc. The list price is $1,600, with a trade discount of 25 percent, terms 1/10, n/30. Junes Garden Supplies pays the amount...
-
Suppose that the quantity of steel demanded in France is given by Qs = 100 - 2Ps + 0.5Y + 0.2PA, where Qs is the quantity of steel demanded per year, Ps is the market price of steel, Y is real GDP in...
-
Modern-day adult British women experience a pronounced loss of bone density as they grow older, contributing to an increasing incidence of osteoporotic hip fractures. During the restoration of a...
-
Tim Propp, CFO of Thunderbird, Inc., invested some of the firms excess cash in the common shares of what he thought were three undervalued securities. At year-end he reviewed how the portfolio of...
-
OHanlon Company is an automotive component supplier. OHanlon has been approached by Chryslers Ohio plant to consider expanding its production of part 24Z2 to a total annual quantity of 2,800 units....
-
Describe the role communication plays in a total quality setting.
-
You own a firm, and you want to raise $30 million to fund an expansion. Currently, you own 100% of the firms equity, and the firm has no debt. To raise the $30 million solely through equity, you will...
-
PepsiCo, Inc., the parent company of Frito-Lay snack foods and Pepsi beverages, had the following current assets and current liabilities at the end of two recent years: a. Determine the (1) Current...
-
Marriott International, Inc., and Hyatt Hotels Corporation are two major owners and managers of lodging and resort properties in the United States. Abstracted income statement information for the two...
-
Use the Topps Companys annual report to answer the following questions. a. How long did it take Topps to collect accounts receivable during the year ended March 1, 2003? b. Approximately what...
-
4. Using Euler's method to solve following equation with time step of 1. dy = = 4t - 0.5y dt y(0)=2 You only need to write out three steps to get values of y(1), y(2), y(3). 5. Write your Euler's...
-
Establish and maintain payroll systems in Australia Finance sources GrabACoffee Business Plan Business name: GrabACoffee Ownership structure: Sole trader - Meg Latazzo Business description Sale of...
-
Add enough mass to the weight hanger to extend the spring so that it can oscillate without all of the space between the spring's windings closing up. Record the total mass Pull the spring down...
-
Delta Company produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 60.000 units per year Direct materials Direct labor...
-
There are ten (10) areas of strategic operations management decisions for managers to achieve competitive advantage. For each area, briefly describe and then explain how it will help managers in...
-
Your friend says that microwaves and ultraviolet light have different wavelengths but travel through space at the same speed. Do you agree or disagree?
-
A consumer magazine is evaluating five brands of trash compactors for their effectiveness in reducing the volume of typical household products that are discarded. In the experiment, each block...
-
Define the following terms. (a) Basic earnings per share. (b) Potentially dilutive security. (c) Diluted earnings per share. (d) Complex capital structure. (e) Potential common stock.
-
Define the following terms. (a) Basic earnings per share. (b) Potentially dilutive security. (c) Diluted earnings per share. (d) Complex capital structure. (e) Potential common stock.
-
What are the computational guidelines for determining whether a convertible security is to be reported as part of diluted earnings per share?
-
In a study, the data you collect is reason for leaving last job. This data is: Quantitative Qualitative (Categorical)
-
you are to create a spreadsheet for the Lazy Mower in EXCEL. No hard - wiring numbers i . e . anything that can be calculated in EXCEL should be . Please make your spreadsheets readable. Once you...
-
. An analyst is evaluating two bonds, Bond A and Bond B. The effective maturity of both bonds is 5 years. The face value of both bonds is $1000 and the yield to maturity for the bonds is 8.5%. Bond B...
Study smarter with the SolutionInn App