The following information is available for Bradford Inc. and Windsor Inc. at December 31: Required a. What
Question:
The following information is available for Bradford Inc. and Windsor Inc. at December 31:
Required
a. What is the accounts receivable turnover for each of the companies?
b. What is the average days to collect the receivables?
c. Assuming both companies use the percent of receivables allowance method, what is the estimated percentage of uncollectible accounts for each company?
Accounts Windsor Bradford Accounts Receivable Allowance for Doubtful Accounts Sales Revenue $ 220,200 $ 92,500 3,250 1,978,200 716,500
Step by Step Answer:
a Accounts Receivable Turnover Calculate net accounts receivables Bradford 92500 3250 89250 Wi...View the full answer
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
Related Video
Days sales outstanding (DSO) is a measure of the average number of days that it takes a company to collect payment for a sale. DSO is often determined on a monthly, quarterly, or annual basis. To compute DSO, divide the average accounts receivable during a given period by the total value of credit sales during the same period and multiply the result by the number of days in the period being measured.
Students also viewed these Business questions
-
The following information is available for Brimley Inc. Note: All inventory is purchased on account, and Accounts Payable relates only to the purchase of inventory. Compute the following for 2008: 1....
-
The following information is available for Sanchez Manufacturing Company. Prepare the cost of goods manufactured schedule for the month ofApril. April 1 April 31 $14,000 3,500 Raw material inventory...
-
The following information is available for Silbermond Company: Assume a tax rate of 30%. Prepare a pro-forma income statement for the coming year forSilbermond. Beginning finished goods inventory. S...
-
How many vector::push_back() operations are performed between lines 8 and 13 when this code is executed? The size of the input is the number of elements n in the vector v. Replace the question marks...
-
Tony Begay, a currency trader for Chicago-based Saguaro Funds, uses the following futures quotes on the British pound () to speculate on the value of the pound. British Pound Futures, US$/pound (CME)...
-
Find an equation for each line in the form ax + by = c, where a, b, and c are integers with no factor common to all three and a 0. Through (7, -6), parallel to a line with undefined slope
-
In a business's bank account as shown in its cash book, a debit balance means: a. The business has paid out too many cheques b. The business owes the bank some money c. The business has an overdraft...
-
Fair Value to Equity Method with Goodwill On January 1, 2010, Millay Inc. paid$700,000 for 10,000 shares of Genso Companys voting common stock , which was a 10% interest in Genso. At that date the...
-
nected graph is shown. Identify the follow dges ops elect the correct choice below and, if nece ce. A. Edge(s) is(are) a bridge(s). (Use a comma to separate answers a B. There are no bridges in the...
-
The chief financial officer for Eagles Beach Wear and Gift Shop is planning for the companys cash flows for the next six months. The following table summarizes the expected accounts receivables and...
-
The following trial balance was drawn from the accounts of Southern Timber Co. as of December 31, Year 1: Cash ........................................................$16,000 Accounts receivable...
-
The following transactions apply to Sports Consulting for Year 1, the first year of operation: 1. Issued $5,000 of common stock for cash. 2. Recognized $70,000 of service revenue earned on account....
-
Both the U.S. Army and the University of Texas-Austin are large complex entities with numerous employees. Comment on the differences to which these organizations are decentralized, as well as...
-
Do you believe that your present duties and work are in line with your long-term objectives?
-
1. What are some specific factors that make countries unattractive to firms looking to do business there? 2. What are some of the factors that firms must consider before deciding to begin...
-
a) Perform Girvan Newman Algorithm on the following network to find hierarchical communities. Show each step. 1.00 0.75 0.50 0.25 0.00 -0.25 -0.50 -0.75 -1.00 -0.8 -0.6 -0.4 -0.2 0.0 02 04 0.6 b)...
-
A plane traveling north at 120 knots passes directly over thePrescott airport. A second plane passes east over the airport onehour later, at a speed of 100 knots. Both planes are at the samealtitude....
-
Start by assessing which "Life Stage" you are a. Then, list, the characteristics of this life stage? 1. For the next 3 questions, access...
-
Solve the following equation. 2x = 3x + 12 - 2
-
Cable Corporation is 60% owned by Anna and 40% owned by Jim, who are unrelated. It has noncash assets, which it sells to an unrelated purchaser for $100,000 in cash and $900,000 in installment...
-
Supply the missing information in the following table for Blair Company. Sales ........... $484,000 ROI .......... ? Operating assets ...... ? Operating income ..... ? Turnover ......... 2.2 Residual...
-
The Bishop Division of Kingley Corporation has a current ROI of 12 percent. The company target ROI is 8 percent. The Bishop Division has an opportunity to invest $6,000,000 at 10 percent but is...
-
Norden Home Maintenance Company (NHMC) earned operating income of $4,800,000 on operating assets of $50,000,000 during 2014. The Tree Cutting Division earned $800,000 on operating assets of...
-
Exercise 3-10 (Algo) Applying Overhead; Journal Entries; T-accounts [LO3-1, LO3-2] Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing...
-
Direct Materiais Purchases Budget Smart Strike Company manufactures and sells soccer balls for teams of children in elementary and high school. Smart Strike's best-selling lines are the practice ball...
-
Let u: R2 R be a strictly increasing C utility function. + (a) Derive an expression for the slope of an indifference curve at an arbitrary consumption bundle (xo, yo) R. '++ (b) Take a derivative of...
Study smarter with the SolutionInn App