Stargell Lumber Yard has a current accounts receivable balance of $392,164. Credit sales for the year just
Question:
Stargell Lumber Yard has a current accounts receivable balance of $392,164. Credit sales for the year just ended were $2,105,620. What is the receivables turnover? The days’ sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (3 reviews)
Receivables turnover is a financial ratio that measures how efficiently a company collects its accou...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780072553079
6th Edition
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
Question Posted:
Students also viewed these Business questions
-
Derive the hystersis torque expression of the hystersis motor.
-
Wims, Inc., has sales of $15.2 million, total assets of $9.8 million, and total debt of $3.7 million. The profit margin is 6 percent. What is net income? What is ROA? What is ROE? 2) Trout Lumber...
-
Calculating the Average Collection Period Pujols Lumber Yard has a current accounts receivable balance of $387,615. Credit sales for the year just ended were $2,945,600. What is the receivables...
-
Ultimate Consulting is a management consulting firm that offers a wide range of services to companies in many industries. To stay on the cutting edge of developments in the business world and to...
-
Suppose Dighton Cycles, Inc., reported a number of special items on its income statement. The following data, listed in no particular order, came from Dightons financial statements (amounts in...
-
The following transactions occurred during the year ended 31 December 2019 for Adelaide Ltd: a. Issued share capital for $300 000 cash. b. Expiration of prepaid rent expense (i.e. prepaid rent...
-
Generally accepted accounting principles are: a. the guidelines used to resolve ethical dilemmas. b. established by the Internal Revenue Service. c. primarily established by the Financial Accounting...
-
Erickson Company manufactures wheel rims. The controller expects the following ABC allocation rates for 2016: Erickson produces two wheel rim models: standard and deluxe. Expected data for 2016 are...
-
I need to find the max of the following function : f ( x ) = 1 + 1 . 1 x ( 1 + x ) I know it is some where for x = 9 or 10, i drew it, but i cant know how to use the derivative method to find the...
-
Find the SIC codes for Papa Johns International (PZZA) and Darden Restaurants (DRI) on each companys home page. What is the SIC code for each of these companies? What does the business description...
-
You want to examine the financial ratios for Dell Computer Corporation. Go to www.marketguide.com and type in the ticker symbol for the company (DELL). Next, go to the comparison link. You should...
-
Researchers explored the effect of the expression of anger on physical health in two culturesthe United States and Japan (Kitayama et al., 2015). They noted that previous research linked the...
-
What is the final portfolio value if you invested $150,000 into a portfolio seven years ago, and which had the following sequence of returns: Year 1 = 3.95%, Year 2 = 7.05%, Year 3 = -4.25%, Year 4 =...
-
Directions: Evaluate 4 different credit card offers by completing the chart below. After you have completed the chart, you will decide which credit card would be best for a college student (whose...
-
Sanford Sons Ltd. produces two confectionery products: candy apples and cotton candy. In 2019, the Company sold $100,000 worth of candy apples that generated a 48% contribution margin and $80,000...
-
Project Management Information Systemis a [tool] for managing projects. The tools and procedures used to acquire, integrate, and distribute the outputs of process improvement procedures make up a...
-
Medibank Ltd is planning to issue a guaranteed capital-gain only investment product of $100,000 per subscription unit that has a 3-year maturity and pays a single sum of guaranteed...
-
For each of the following examples, draw a representative isoquant. What can you say about the marginal rate of technical substitution in each case? a) A firm can hire only full-time employees to...
-
The following table shows the rates of total return in successive years from 2004 to 2008 for the Sprott Canadian Equity Fund and for the benchmark Toronto Stock Exchange S&P/TSX Composite Index. By...
-
Calculating Perpetuity Values In the previous problem, suppose a sales associate told you the policy costs $280,000. At what interest rate would this be a fair deal?
-
Calculating EAR Find the EAR in each of the following cases: Stated Rate (APR) Number of Times Compounded Effective Rate (EAR) Quarterly Monthly 18 10 Daily 14 Infinite
-
Calculating APR Find the APR, or stated rate, in each of the following cases: Stated Rate (APR) Number of Times Compounded Semiannually Monthly Effective Rate (EAR) 12.2% 9.4 Weekly Infinite 8.6 23.8
-
The stockholders' equity accounts of Concord Corporation on January 1 , 2 0 2 5 , were as follows. \ table [ [ Preferred Stock ( 7 % , $ 1 0 0 par noncumulative, 7 , 0 0 0 shares authorized ) , $ 4 2...
-
PLEASE help me and have it correct The comparative income statement of Norman Music Co . for the years ended December 3 1 , 2 0 2 1 and 2 0 2 0 is as follows: ( Click the icon to view the comparative...
-
Identifying product and period cost classifications for a manufacturer: Manufacturing Cost Classifications Product vs . DM , DL , or period O H \ table [ [ Wages for assembly line workers,, ] , [...
Study smarter with the SolutionInn App