FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 22 Based on the following information, determine the average receivables rounded to thousands of dollars) that were outstanding: Net sales - $575,000; Sale-to- cash

image text in transcribed
QUESTION 22 Based on the following information, determine the average receivables rounded to thousands of dollars) that were outstanding: Net sales - $575,000; Sale-to- cash conversion period = 57.1 days Purchase-to-payment conversion period = 76.8 days; and Cost of goods sold = $380,000 a 390,000 b. $180,000 c. $121,000 d. $31,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Empirical Techniques In Finance

Empirical Techniques In Finance

Authors: Ramaprasad Bhar, Shigeyuki Hamori

1st Edition

3642064175, 978-3642064173

More Books

Students also viewed these Finance questions

Question

★★★★★
When are tables the most appropriate analytical tool and tabulating technique? What types of data are best presented in tables?

Answered: 1 week ago

Question

★★★★★
Evaluate each iterated integral. 2-2 1 - dx dy X

Answered: 1 week ago

Question

★★★★★
Outline the historical evolution of business social responsibility.

Answered: 1 week ago

Question

★★★★★
Assume that Andy Wolfson is interested in a cafeteria benefits approach. He has heard, however, that when people are permitted to select their own coverages, unit costs may rise (called adverse...

Answered: 1 week ago

Question

★★★★★
3) CIP: You are told that the current exchange rate on the Russian n S/rouble on the spot market. An investment bank quotes you a rate of .0310-0316 S/rouble for a 12-month forward exchange contract....

Answered: 1 week ago

Question

★★★★★
LOL. How are financial statements used to analyze a business a) Name the three main ways to analyze financial statements: b) An provides information about a company's financial condition. c) Another...

Answered: 1 week ago

Question

★★★★★
What must a creditor do to become a secured party?

Answered: 1 week ago

Question

★★★★★
When should the last word in a title be capitalized?

Answered: 1 week ago

Question

★★★★★
2%) Question 5. (3pt) A cylindrial bar of copper 16 mm in diameter and 90 mm long is subjected to a uniaxial tension test. Its length increased by 0.52 mm under a load of 58 kN. At the same time, its...

Answered: 1 week ago

Question

★★★★★
The consultant in the LOGage Company prepared accounts with the following normal balances: Cash $10,000, Salaries and Wages Expense $55,000, Service Revenue $105,000, Salaries and Wages Payable...

Answered: 1 week ago

Question

★★★★★
What most computer users don't know today is that anything done on a computer is never private. Bahaudin Mujtaba states in the Journal of Applied Management and Entrepreneurship, "e-mail is as public...

Answered: 1 week ago

Question

★★★★★
In respect of the Meteor case study, put yourself in Sarahs position and carry out the following: Explain how you would put together a proposal for a series of changes, including how you would gather...

Answered: 1 week ago

Question

★★★★★
Carry out research into how performance- related pay has worked in the UK teaching profession. (You may fi nd the article by Marsden and Belfi eld (2006) useful here.) Debate whether teachers should...

Answered: 1 week ago

Question

★★★★★
As a human resources manager, you have been asked to carry out a local survey to fi nd the market rate for a marketing assistant. Detail how you would plan and implement this project; list the diffi...

Answered: 1 week ago

Previous Question Next Question