A company with net credit sales of $960,000, beginning net receivables of $70,000, and ending net receivables
Question:
A company with net credit sales of $960,000, beginning net receivables of $70,000, and ending net receivables of $90,000 has days’ sales outstanding closest to:
a. 37 days.
b. 30 days.
c. 34 days.
d. 41 days.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (7 reviews)
b 70000 9...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
Question Posted:
Students also viewed these Business questions
-
Fun Depot is a retail store that sells toys, games, and bicycles. On December 31, 2016, the firms general ledger contained the following accounts and balances. ACCOUNTS AND BALANCES INSTRUCTIONS 1....
-
In 2017, Bismark Company has net credit sales of $1,600,000 for the year. It had a beginning accounts receivable (net) balance of $108,000 and an ending accounts receivable (net) balance of $120,000....
-
In 2019, Wainwright Company has net credit sales of $1,300,000 for the year. It had a beginning accounts receivable (net) balance of $101,000 and an ending accounts receivable (net) balance of...
-
Jaclyn Hargrove is the owner of six Pickwick Restaurants. For the past 10 years, she has always relied on her accountant to analyze her financial statements. Jaclyn feels that if she were able to...
-
The Berkshire Resort Hotel has planned several improvement projects. However, it has decided to restrict its capital expenditures to $340,000 during the next year. The following are the projects it...
-
The purpose of this experiential exercise is to learn how managers actually use job descriptions in their organizations. First, you will need to get the names and contact information for three to...
-
In 2014, Javier Ramos decided to open seafood restaurants in California and Texas. Ramos claims that he was describing the crusted glaze applied to cooked seafood to his friend Ivan Murillo when...
-
On October 1, White Way Stores Inc. is considering leasing a building and purchasing the necessary equipment to operate a retail store. Alternatively, the company could use the funds to invest in $...
-
rephrase.PCG REPORTED THAT THE FACILITY HAS REQUESTED THE FAMILY NOT VISIT FOR TWO WEEKS TO ALLOW PT TO ADJUT TO THE NEW FACILITY. PCG HARED HER CONCERNS ABUT NOT BEING ABLE TO VISIT PT AND PT...
-
Even if he runs out of instructions to execute, the Little Man only stops trying to execute instructions under one condition. What is that condition? What happens if the Little Man runs out of...
-
Which of the following is included in the calculation of the quick(acid-test) ratio? a. Inventory and short-term investments b. Inventory and prepaid expenses c. Cash and accounts receivable d....
-
A company sells on credit terms of 2/10, n/30 and has days sales in accounts receivable of 30.2 days. Its days sales outstanding is a. Too low. b. Too high. c. About right. d. Not able to be...
-
What are the four major components of an effective financial system?
-
Suppose Britain experiences unusually strong GDP growth and a rapid increase in its Consumer Price Index. Answer the following questions about what would most likely result : #15 Suppose Britain...
-
prepare a relevant cost schedule showing the benefits of keeping the old lathe or buying the new one. Information about the old lathe: Cost $57,000 Estimated useful life 8 years Estimated residual...
-
Discuss the assumption that regular eye check-up, regular dental check-up and regular blood pleasure check-up are merit goods.?
-
What is GOD like, Not whether GOD is a deity, but how many and which one(s). How many, and which one(s). How do you know GOD? Does God care? And is God good? According to Kelly M. Kapic
-
Visa 1. Explain how partnership changes could impact progress in blockchain-related innovation for Visa. 2. How should Visa approach blockchain implementation? Should it focus on developing its...
-
On January 1, 2012, Jackson Corp. purchased $1.6 million of 10-year, 7% bonds for $1,658,157. The purchase price was based on a market interest rate of 6.5%. Interest is received semi-annually on...
-
What are bounds and what do companies do with them?
-
Alex Mabry, the owner-president of Computer Services Company, is unfamiliar with the statement of cash flows that you, as his accountant, prepared. He asks for further explanation. Instructions Write...
-
Riverside Automotive Corp. is a medium-sized wholesaler of automotive parts. It has 10 stockholders who have been paid a total of $1 million in cash dividends for 8 consecutive years. The boards...
-
In this chapter, you learned that companies prepare a statement of cash flows in order to keep track of their sources and uses of cash and to help them plan for their future cash needs. Planning for...
-
How do neoliberal economic policies intersect with globalization, and what impact do they have on global trade dynamics and income inequality?
-
Exercise 1. Packets of socks made by Oliver & Hardy company are sold to consumers for $2.49. Retailers ear 27% on the retail selling price. Wholesalers typically earn 25% mark-up on their cost of...
-
On March 31, 20Y9, the balances of the accounts appearing in the ledger of Royal Furnishings Company, a furniture store, are as follows: Accounts Receivable Accumulated Depreciation-Building...
Study smarter with the SolutionInn App