ibu Corporation has annual credit sales of $35 million. The s 37 days. What is the average investment in accounts rece nce sheet? (Do not round intermediate calculations and e not millions of dollars, rounded to 2 decimal places, e.g., 1. receivables
Q: Wilcox Mills is a manufacturer that makes all sales on 30-day credit terms. Annual sales are…
A: Allowance method: Under allowance, the method company makes provision of uncollectible accounts at…
Q: Candle Shop, Inc. has net sales on account of $1,700,000. The average net accounts receivable are…
A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…
Q: Medwig Corporation has a DSO of 20 days. The company averages $3,500 in sales each day (all…
A: Accounts receivables are the money due towards the customers but not yet paid. The accounts…
Q: If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average…
A: Given: Annual sales = $83,000 Average accounts receivables = $25,000
Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…
A:
Q: average investment in accounts receivable?
A: Average investment in accounts receivable = Accounts receivable average collection period * Annual…
Q: ABCD Corporation has credit sales of $10,290,000 and receivables of $1,560,000. Assume there are 365…
A: In this we have to calculate the receivable turnover ratio using the formula.
Q: Assuming 77 percent of sales are on credit, what is the company's days' sales in receivables?
A: Information Provided: Net Income = $191,000 Profit Margin = 9.10% Accounts Receivable = $106,919…
Q: Los Altos, Inc. has an accounts receivable turnover of 20. What is the company's average collection…
A: Formula: Average collection period = 365 days / Accounts receivable turnover. Division of 365 days…
Q: Your company had net sales of $100,000 over the past year. One quarter of the sales were credit…
A: Net Sales = 100,000 One quarter were credit sales Credit Sales = Net Sales / 4 = 100,000 / 4 =…
Q: JKL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…
A: Average Collection Period: In terms of Accounts Receivable, the average collection time of the…
Q: accounts receivable balance
A: SOLUTION:- Receivables Period = 46 Credit sales = $5,840,000…
Q: A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number…
A: Average number of collection days = 365 days / Average receivable turnover ratio Average receivable…
Q: Al Sharif Company's Average Accounts Receivables is OMR 360,000 and total Sales is OMR 1,200,000.…
A: Credit sale=Total sale×100-Cash sale %=OMR 1,200,000×100-40%=OMR 720,000
Q: accounts receivable turno ratio of a company is 2, annual credit sales IS $ nat is the average…
A: Given, Accounts receivable turnover = 2 Annual credit sales = $719550
Q: Bulldogs Inc. had credit sales last year amounted to P18,600,000. The firm also had an average…
A: Solution.. Credit sales = P18,600,000 Average accounts receivable = P1,380,000 Average collection…
Q: Company Abel has total sales of $375,000, of which, $125,000 represents cash sales. Its annual…
A: Accounts receivable is the amount of money not paid by customers that is due to the organization for…
Q: Greene Sisters has a DSO of 20 days. The company’s average daily salesare $20,000. What is the level…
A: Receivable Turnover Ratio = No. of days in a year / Day's sales outstanding (DSO) Receivable…
Q: Aubrey Company that you work for had credit sales of P3,500,000 last year and on average had P33,000…
A: Average collection period refers to the average number of days taken by the clients or customers to…
Q: TMRW Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010.…
A: 1. TMRW Co.- Average accounts receivable balance = (Annual Credit Sales / 360 days) x Average…
Q: company reports the followin Sales $890,600 Average accounts receivable (net) 44,530 Determine (a)…
A: Ratio analysis: It refers to the quantitative technique of financial analysis that allows gaining an…
Q: A wants you to calculate its average days in accounts receivable for the year. Its beginning and…
A: Average account receivable = [(Beginning balance - Beginning allowance account) + (Ending balance -…
Q: Suppose that Dunn Industries has annual sales of $2.3 million, cost of goods sold of $1,650,000,…
A: The question is based on the concept of calculation of operating cycle of a firm, Formula as,
Q: The annual sales of a company are $47,000 including sales tax at 17.5%. Half of the sales are on…
A: We have the following information: Annual sales of the company: $47,000 Half of the sales are on…
Q: Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days.…
A: Average collection period means the average time period with in which the debtor makes the payment.
Q: A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine…
A: Accounts receivable turnover = Sales / Average Accounts receivable where, Average Accounts…
Q: A company reports the following: Sales $1,460,000 Average accounts receivable (net) 100,000…
A: a. Accounts receivable turnover = Net sales / average accounts receivable Accounts receivable…
Q: ABCD Corporation has credit sales of $12,690,000 and receivables of $1,970,000. Assume there are 365…
A: Question is based on the concept of Financial ratios
Q: The Malibu Corporation has annual credit sales of $36 million. The average collection period is 38…
A: Ratio is a tool which is used to evaluate the growth and performance of the firm by establish the…
Q: A company has average accounts receivable of Rs. 10,00,000 and annual credit sales of Rs.60,00,000.…
A: The average collection period determines the number of days on an average taken by Company to…
Q: Lupo, Inc., has an average collection period of 52 days. Its average daily investment in receivables…
A: a) Given, Average collection period = 52 days Average collection period = 365/ Receivables turnover…
Q: What is the company's average accounts receivable?
A: DSO indicates the average days takes to collect the payment from the accounts receivable.
Q: ABC Corp. has net credit sales of P1,440,000 yearly with credit terms of n/30, which is also the…
A: Formula: Accounts receivable turnover = Net credit sales / Average accounts receivable Average…
Q: Medwig Corporation has a DSO of 17 days. The company averages $8,500 in sales each day (all…
A: Days sale outstanding(DSO)/Average collection period(ACP) tells a firm on an average time taken by…
Q: Terry's hardware normally takes 27 days to pay for average daily credit purchases of $9,530. Its…
A: Part (a)Accounts receivable = Average daily credit sales x Average collection period = $ 10,680 x…
Q: ABCD Corporation has credit sales of $10,960,000 and receivables of $1,260,000. Assume there are 365…
A:
Q: XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average…
A: Receivable turnover ratio is calculated as follows: = Net credit sales / Average account receivable
Q: The QYU, Inc. has sales of P5 million per year (all credit) and an average collection period of 35…
A: The average collection period is an accounting metric used to represent the average number of days…
Q: The QYU, Inc. has sales of P5 million per year (all credit) and an average collection period of 35…
A:
Q: The Malibu Corporation has annual credit sales of $28 million. The average collection period is 30…
A: Day sales in receivables= 365/receivables turnover 30 =365/ receivables turnover receivables…
Q: a. If the balance in accounts receivable at the end of 1991 was $500,000 and $750 million , how long…
A: This can be arrived at by using average collection period (ACP) formula. It measures the average…
Q: . Medwing Corporation has a DSO of 19 days. The company averages 5,500 in credit sales each day.…
A: Given: (Days sales outstanding) DSO = 19 days Credit sales = 5,500 Assuming 365 days in a year.
Q: Rayhan Company has an average collection period of 55 days. The annual sales is 8,500,000. What is…
A: The average collection period indicates the period between the sale and collection/ receipt of money…
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- A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number of collection days. (Do not round intermediate calculations, round your answer to two decimal places, i.e. 12.34) Using the abswer to the prvious question, how does the numbers relate to the terms of 2/10 net/30?a) Calculate Kopitiam Sdn Bud’s accounts receivable turnover ratio for Year 2 and Year 3. b) Calculate the number of days the average balance of receivables is outstanding before being converted into cash (turnover in days) for Year 2 and Year 3 c) What problem do you see with the company’s credit policy if the terms are net 30 days? Explain your answer.If Vabasa, Inc. has an average collection period (ACP) of 52.5 days (assume a 360 day year) and annual net credit sales of 11,513,000, what is accounts receivable for Vabasa? Enter your answer as a whale number rounded to 0 decimal places, but do not include a dollar sign or any commas in your answer. For example, enter $4,392,118.9342 as 4392119. Your Answer: Answer
- During its first year of operations, Pharoah Company had credit sales of $2,751,000, of which $366,200 remained uncollected at year-end. The credit manager estimates that $19,200 of these receivables will become uncollectible. Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pharoah Company, assuming that in addition to the receivables it has cash of $85,350, merchandise inventory of $189,550, and supplies of $12,900. (List current assets in order of liquidity) Pharoah Company Balance Sheet (partial) $4. The following select financial statement information from Hogge Computing. Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2021 and 2022 (round answers to two decimal places). Year 2020 2021 2022 2021: Net Credit Sales 2022: $1,557,200 $1,755,310 $1,965,170 Accounts Receivable Turnover Ratio: • Days' Sales: days Accounts Receivable Turnover Ratio: Days' Sales: days times times Ending Accounts Receivable $397,000 $465,200 $505,780Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning accounts receivable balance of $590,900, and an ending accounts receivable balance of $626,450. A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal places. B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day’s sales ratio is 180 days? a. Millennial Manufacturing collects its accounts more quickly than its competitors. b. A lender may favour Millennial Manufacturing over its competitors because of its faster collection period. c. Without prior years’ data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors. d. All of the above statements may be correct.
- Millennial Manufacturing has net credit sales for 2018 in the amount of $1,443,630, beginning accounts receivable balance of $588,900, and an ending accounts receivable balance of $624,450. A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal places. times days B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day's sales ratio is 180 days? Accounts receivable turnover ratio Sales in receivables ratio a. Millennial Manufacturing collects its accounts more quickly than its competitors. b. A lender may favour Millennial Manufacturing over its competitors because of its faster collection period. c. Without prior years' data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors. d. All of the above statements may be correct.If you are told that LSJ Company turns its accounts receivable over every 33 days…this would represent an example of what type of analysis: a. Vertical Analysis b. Horizontal Analysis c. Ratio AnalysisThe following select financial statement information from Candid Photography. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days sales in receivables ratio is 150 days?
- The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?The Malibu Corporation has annual credit sales of $25 million. The average collection period is 27 days. What is the average investment in accounts receivable as shown on the balance sheet? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) Average receivables
