A company has a net income of $179,000, a profit margin of 8.3%, and an accounts receivable

Fantastic news! We've Found the answer you've been seeking!

Question:

A company has a net income of $179,000, a profit margin of 8.3%, and an accounts receivable balance of $118,370. Assuming 70 percent of sales are on credit, what is the company's days' sales in receivables?

Related Book For answer-question

Supply Chain Focused Manufacturing Planning and Control

ISBN: 978-1133586715

1st edition

Authors: W. C. Benton

See More Books

Posted Date: Jan 06, 2021 05:14 AM

See More Questions

A company has accounting net income of S50 million and shareholders equity' of $350 million. Assume that carrying values for all assets and liabilities equal their fair value. Finally, assume the...
A company has estimated net requirements for a particular part as follows: a. Apply the economic order quantity and the part period balancing procedures to solve this problem. b. What important...
Journalize the transactions: Transaction : Soft byte purchases $1,600 of computer paper and other supplies that are expected to last several months from the Alpha Supply Company. Alpha Supply will...
M/s Active Builders Ltd. invested in the shares of another company (with an intention to hold the shares for short term period )on 31st October, 2016 at a cost of Rs.4,50,000. It also earlier...
This chapter explores alternative methods for forecasting the demand for new products before they are launched. Compare these methods with those discussed in Chapter 3, which use existing sales data...
When a soccer ball is kicked toward a player and the player deflects the ball by "heading" it, the acceleration of the head during the collision can be significant. Figure 2-38 gives the measured...
Show that the competitive labor market compensates workers for the probability that they will be laid off.
Data for two alternatives are as follows: If the MARR is 12%, compute the value of X that makes the two alternatives equally desirable. B Cost $800 $1000 Uniform annual benefit 230 230 Useful life,...
What role does HR play in reinforcing this mission/vision statement? Describe the steps companies like Walt Disney go through to develop a human resource strategy? Discuss current changes in the...
Use Mark Gilley's FlashCard statement. There is an error in his bill. The average daily balance, finance charge, available credit, and new balance amounts are not filled in. You can find a copy of...
2022In In 2017, Hydrogen Corp. began selling a new line of products that carry a two-year warranty against defects. Based upon past experience with other products, the estimated warranty costs...
Question: Assume that Trump acquired Clinton on January 2, 2001 Trump issued 60,000 new shares of its common stock valued at $4.00 per share for all of the outstanding stock of Clinton. Immediately...
How do modern operating systems implement secure boot mechanisms, and what role does hardware-based security play in this process ? Explain
Analyze and differentiate between ADA and CAATTS tools when assessing internal controls, audit risk, and gathering substantive evidence. Explain the potential application of ADA in evaluating audit...
Question: 10/25/YR1-- YSR Inc. acquires supplies to be used by its employees. The supplies cost $2,000. Although YSR Inc. has received the supplies, it will not pay for the supplies until November,...
Explain the concept of consistency models. How do eventual consistency and strong consistency affect the design of distributed applications ?
How does the use of extended similes, also known as epic similes, enrich epic poetry and other narrative forms by elaborating upon comparisons through detailed elaboration, thereby enhancing...
Smthe Co. makes furniture. The following data are taken from its production plans for the year. Required: 1. Determine the hazardous waste disposal cost per unit for chairs and for tables if costs...
Define lean manufacturing. Give as much detail as possible.
A comprehensive risk-management approach will introduce costs that are different for various sourcing alternatives because the different options will carry with them different types and sizes of...
Daniels Inc., a skate board manufacturer, needs help planning production for next year. Demand for skateboards follows a seasonal pattern, as shown here. Given the following costs and demand...
Fran frequently attends flea markets looking for good bargains. On a recent trip, she purchased a nightstand for $$25$ and an armoire for $$45.$ When she got them home and took a closer look, she...
Tanika passed away in the current year and her daughter, Shanika, received life insurance proceeds of $$500,000.$ Tanika had paid $$12,000$ in premiums on the life insurance policy to date....
Todd has received the following payments in the current year: How much must Todd include in his income? Unemployment compensation Food stamps $12,000 $ 1,500 Lottery winnings $ 1,000 Gambling...

A company has a net income of $179,000, a profit margin of 8.3%, and an accounts receivable

Question:

Expert Answer:

Supply Chain Focused Manufacturing Planning and Control

Students also viewed these accounting questions