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

Question

1 Approved Answer

SimpleFlight Inc has a policy of keeping accounts receivables at 80 days of sales. In 2019 they received $95M in revenue. In 2020 they expect

SimpleFlight Inc has a policy of keeping accounts receivables at 80 days of sales. In 2019 they received $95M in revenue. In 2020 they expect to receive $100 M in revenues. What do you forecast their account receivables to be in 2020? (enter answer in $M, with two decimal points precision)

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_2

Step: 3

blur-text-image_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

Fundamentals of Investing

Fundamentals of Investing

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

12th edition

978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359

More Books

Students also viewed these Finance questions

Question

★★★★★
A random variable X is said to have a Poisson distribution if pX(k) = P(X = k) = ek/k!, k = 0, 1, 2, . . . . Find the moment-generating function for a Poisson random variable. Recall that 00 e = k!...

Answered: 1 week ago

Question

★★★★★
What is the difference between accumulated amortization and amortization expense? How are they related?

Answered: 1 week ago

Question

★★★★★
1. A book editor explained that he was Type B on the outside and Type A on the inside. How could this be? Do you know someone who appears to be one type of personality, but is in reality the other...

Answered: 1 week ago

Question

★★★★★
Owens Distributors is a retail business. The following sales, returns, and cash receipts occurred during March 20--. There is an 8% sales tax. Beginning general ledger account balances were Cash,...

Answered: 1 week ago

Question

★★★★★
SimpleFlight Inc has a policy of keeping accounts receivables at 80 days of sales. In 2019 they received $95M in revenue. In 2020 they expect to receive $100 M in revenues. What do you forecast their...

Answered: 1 week ago

Question

★★★★★
2) You want to endow a scholarship that will pay $8,000 per year forever, starting one year from now. If the school's endowment discount rate is 5%, what amount must you donate to endow the...

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

★★★★★
Research studies will include a Method, or Methodology section, which describes in detail how the study was undertaken. Which of the statements below is most accurate in regard to this?

Answered: 1 week ago

Question

★★★★★
Harwick Corporation has provided the following information for its segments: Revenues Operating profit Division A Division B Division C 7,800 297 1,450 13,500 Total 22,750 40 7 344 Which operating...

Answered: 1 week ago

Question

★★★★★
Assume: A percussion drill jumbo is operating in a drift in a hardrock mine under the following conditions: Rock: Minnesota quartzite Drilling rate (in Barre granite): 22 mm/sec Drillhole depth:...

Answered: 1 week ago

Question

★★★★★
LO14.5 Discuss the efficiency of oligopoly from societys standpoint and whether it is more or less efficient than monopoly.

Answered: 1 week ago

Question

★★★★★
LO14.3 Explain the three main models of oligopoly pricing and output: kinked-demand theory, collusive pricing, and price leadership.

Answered: 1 week ago

Question

★★★★★
3. Suppose that a monopolistically competitive restaurant is currently serving 230 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay...

Answered: 1 week ago

Previous Question Next Question