Rian Company had a target of twenty days for the collection cycle for the year 2014. If

Question:

Rian Company had a target of twenty days for the collection cycle for the year 2014. If total sales had remained at $970,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Management Core Concepts

ISBN: 978-0133866698

3rd edition

Authors: Raymond M Brooks

See More Books

Question Posted: Oct 31, 2017 08:22 AM

See More Questions

Rian Company had a target of fifteen days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account need to be to reach this target (holding all other...
Kolman Kampers has a production cycle of thirty-five days, a collection cycle of twenty-one days, and payment cycle of fourteen days. What are Kolmans business operating cycle and cash conversion...
On January 1, 2017, Harvee Company had Accounts Receivable of $54,200 and Allowance for Doubtful Accounts of $3,700. Harvee Company prepares financial statements annually. During the year, the...
Midwest Inc. is a medium-size company that has been in business for 20 years. The industry has become very competitive in the last few years, and Midwest has decided that it must grow if it is going...
Compute the initial upward acceleration of a rocket of mass 1.3 x 10 4 kg if the initial upward force produced by its engine (the thrust) is 26 x 10 5 N. Do now neglect the gravitational force on the...
Explain margin of safety. Why is it important for managers to know their margin of safety?
(2) Can we determine the nature of the change we face or are we strongly influenced by external constraints (Van de Ven and Poole)?
Leslies Burgers operates and franchises fast-food restaurants specializing in grilled hamburgers and chicken sandwiches. The 2012 and 2013 income statements are as follows (in $000s): Required a....
A E G F 0 H L M N P Q B D Score: ALT-TWO-PAYROLL-ENTRIES R 1 2 3 4 5 6 Using the data below, make the entry for the Employees' payroll AND the employer's Payroll Taxes. Choose Exercise Number (1-5) 7...
Elaine Bridgewater, the former professional golfer you hired to oversee your golf equipment company's relationship with retailers, knows the business inside and out. As a former touring pro, she has...
For the coming year, Rian Company wants to reduce its average production cycle to thirty days. If the target- ending inventory for 2015 is $61,000, what cost of goods sold will the company need to...
Myers and Associates, a famous law office in California, bills it clients on the first of each month. Clients pay in the following fashion: 40% pay at the end of the first month, 30% pay at the end...
Use the data in Exercise 6-1 to prepare comparative income statements for Lakia Corporation (calendar year-end 2005) similar to those shown in Exhibit 6.8 for the four inventory methods. Assume...
Explain the background and prerequisites of supply chain management. Present the basic factors for implementing cooperation between companies in relation to supply chain integration, and discuss what...
You're soliciting for a $2M non-commercial research and development effort to produce prototypes for a handheld virus scanner. There appears to be only one source capable of performing this...
1. what is the Nordic Model to prostitution?2. what are the advantages/disadvantages of the Nordic Model?3. many groups (including the ACLU) advocate for the decriminalization or legalization of sex...
A property owner is considering installing electric valves with automatic timers on their sprinkler systems. They estimate needing 45 valves and timers costing $65 for each set. Initial installation...
Will each scenario shift the aggregate supply curve, the aggregate demand curve, both, or neither? Items (4 items) (Drag and drop into the appropriate area below) A new technology makes workers more...
In Figure 265 what does each voltmeter indicate when the switch (SW) is in position 1? In position 2? Data in Figure 265 Vs + SW 92 FIGURE 2-65 + R V1 R + V2
1) Predict the organicproduct formed when BzCl reacts with cyclohexanol. BzCl = benzoylchloride. 2) Provide the majororganic product of the reaction below. 3) Draw the structureof the product formed...
Find the effective annual rate of the following credit terms: a. 2% discount if paid within ten days or net within thirty days b. 1% discount if paid within thirty days or net within sixty days c....
Tinnendo Inc. believes it will sell 4 million zen-zens, an electronic game, this coming year (note that this figure is for annual sales). The inventory manager plans to order zen-zens forty times...
It turns out that the marketing manager in Problem 15 has underestimated the zen-zen market. The zen-zens are a smash, and current estimates are that the company will sell 8 million of them per year....
When preparing government-wide financial statements, the modified accrual based governments funds are adjusted. Please show the adjustments (in journal entry form with debits and credits) that would...
I need help finding the callable price and call value
On 31 October 2022, the owner took goods for his son as a birthday gift. The cost price of the goods was R15 000

Rian Company had a target of twenty days for the collection cycle for the year 2014. If

Question:

Step by Step Answer:

Working backwards to find credit sales we have Collection Cycle ...View the full answer

Financial Management Core Concepts

Students also viewed these Financial Accounting questions