Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

A company has net income of $194,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,566. Assuming 76 percent of sales

A company has net income of $194,000, a profit margin of 9.60 percent, and an accounts receivable balance of $106,566. Assuming 76 percent of sales are on credit, what is the company's days' sales in receivables?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Analysis For Financial Management

Authors: Robert Higgins

7th Edition

0072863641, 9780072863642

More Books

Students also viewed these Finance questions

Question

★★★★★

Suppose that the probability is 0.63 that a car stolen in a certain Western city will be recovered. Use the computer printout of Figure 5.1 to find the probability that at least 8 of 10 cars stolen...

Answered: 1 week ago

Question

★★★★★

=+64. Human Development Index 2012, part 4. In Exercise 63 we examined the relationship between log(GDPPC) and HDI. The number of Internet users (per 1000 people) is also positively associated with...

Answered: 1 week ago

Question

★★★★★

work settings of recent graduates;

Answered: 1 week ago

Question

★★★★★

Royal Gorge Company uses the gross profit method to estimate ending inventory and cost of goods sold when preparing monthly financial statements required by its bank. Inventory on hand at the end of...

Answered: 1 week ago

Question

★★★★★

In a C + + , write a function that takes two floating - point values and adds them. You may not use the floating - point instructions. Use as low - level operations as possible to make it easier to...

Answered: 1 week ago

Question

★★★★★

As current technology changes manufacturing processes, it is likely that direct O labor will increase. O materials will increase. O materials will decrease. O labor will decrease

Answered: 1 week ago

Question

★★★★★

On November 12, 2020, Ms. Wilma Vander purchased an automobile to be used exclusively in her newly formed unincorporated business that commenced operations on June 30, 2020. The cost of the...

Answered: 1 week ago

Question

★★★★★

Culture affects our personalities and behaviors. To analyze underlying reasons for bias and the effects on treatment methods, you will be watching a short film that asks what if our normal wasn't...

Answered: 1 week ago

Question

★★★★★

Water, initially at 100 Celsius and 200 kPa, is heated isothermally (yes, this can happen-adiabatic and isothermal are not the same things) until a saturated liquid-plus-vapor mixture having a...

Answered: 1 week ago

Question

★★★★★

Examine managing a firearms business from a potentially challenging scenario: Managing a firearms business during a national tragedy, more specifically, during a national tragedy involving a mass...

Answered: 1 week ago

Question

★★★★★

Imagine you want to air an advertisement on TV . The options are morning or afternoon. The media agency claims that the advertisement will have same effectiveness regardless of the time. The...

Answered: 1 week ago

Question

★★★★★

Be able to provide a brief history of the development of state and local civil service systems

Answered: 1 week ago

Question

★★★★★

Understand the purpose of the civil service system job classification

Answered: 1 week ago

Question

★★★★★

Explain why position classification and compensation are very important and controversial parts of public administration organizations governed by civil service

Answered: 1 week ago

Previous Question Next Question