For its most recent year a company had Sales (all on credit) of $830,000 and Cost...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At $100,000. At the end of the beginning of the year its Accounts Receivable were $80,000 and its Inventory was the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Required: Using the above information, estimate the followings: Average accounts receivable for the year. Average inventory for the year. Accounts receivable turnover ratio for the year. i) ii) iii) iv) v) Inventory turnover ratio for the year. Average days of sales for Accounts Receivable during the year. For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of $525,000. At $100,000. At the end of the beginning of the year its Accounts Receivable were $80,000 and its Inventory was the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Required: Using the above information, estimate the followings: Average accounts receivable for the year. Average inventory for the year. Accounts receivable turnover ratio for the year. i) ii) iii) iv) v) Inventory turnover ratio for the year. Average days of sales for Accounts Receivable during the year.
Expert Answer:
Answer rating: 100% (QA)
Required i Average Accounts Receivable 83000 Required ii Average Inventory 1050... View the full answer
Related Book For
Physics for Scientists and Engineers A Strategic Approach with Modern Physics
ISBN: 978-0133942651
4th edition
Authors: Randall D. Knight
Posted Date:
Students also viewed these finance questions
-
A red ball is placed at point A in FIGURE P34.44. a. How many images are seen by an observer at point O?b. What are the (x, y) coordinates of each image? 3.0 m 2.0 m 3.0 m 1.0 m FIGURE P34.44
-
A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5.a. What is the price of good Y?b. What is the consumer??s income?c. At point A, how many units of good X...
-
A proton is released from rest at point A in a constant electric field and accelerates to point B (see part a of the drawing). An electron is released from rest at point B and accelerates to point A...
-
Write a filter KamasutraCipher that takes two strings as command-line argument (the key strings), then reads strings (separated by whitespace) from standard input, substitutes for each letter as...
-
Is it possible for a person to incur an opportunity cost without spending any money? Explain.
-
A model rocket is fired vertically from rest It has a constant acceleration of 24.5 m/s for the first 1.50 s. Then its fuel is exhausted, and it is in free fall. The rocket has a mass of 79.5 g; the...
-
Discuss the following issues relating to criticism of conventional accounting. 1 Conventional accounting uses the accrual convention.What is the accrual convention? What is the main benefit of...
-
A child is pushing a merry-go-round. The angle through which the merry-go-round has turned varies with time according to Ii(t) = Yt + pt, where 'Y = 0.400rad/s and p = 0.0l20rad/s3. (a) Calculate the...
-
Worldcom is investigating raising equity financing. What percentage of total funds raised do direct expense represent if to market stock the issuer incurs $1 million in other expenses to sell 3...
-
Consider the Income Statement and Note 18 (Supplemental information) for General Mills below and answer the following questions. Assume revenue is presented gross of bad debt expense. a. Assume that...
-
3 4 5 6 7 8 9 10 11 12 13 A 14 Cost of the Asset 15 Life of the Asset in Years 16 Book Value of the Asset after 5 years 17 Depreciable Basis 18 Yearly depreciation 19 After tax Salvage Value in year...
-
A second order measurement system has an effective mass of 1.5 kg, the spring stiffness 50 kN/m and damping factor 0.45. Assuming a unit step input, find (a) the rise time, and (b) the settling time...
-
Provide an example of a situation in which civil disobedience is justified. Your example may be hypothetical or an actual, historical instance in which a person(s) participated in civil...
-
The CCPA is probably closest to the EU GDPR because it gives consumers expansive rights to know about a company's data processing. Until January 2023, the CCPA excludes most employment information,...
-
Kapekape Corporation produces and sells coffee. It currently roasts coffee using a manual operation but is considering the purchase of machinery to automate its operations. The machine will cost...
-
Question Solve: 12x 74. Express your answer in interval notation. Provide your answer below: Content attribution
-
Two possible routes for a power line under study. Data on the routes are given below. The interest rate is 7%. Should the power line be routed around the lake or under the lake? Use annual worth...
-
What steps must a business take to implement a program of social responsibility?
-
Ellen wears eyeglasses with the prescription -1.0 D. a. What eye condition does Ellen have? b. What is her far point without the glasses?
-
Figure P 41.42 shows a few energy levels of the mercury atom. a. Make a table showing all the allowed transitions in the emission spectrum. For each transition, indicate the photon wavelength, in nm....
-
At what speed, in m/s, would a moving clock lose 1.0 ns in 1.0 day according to experimenters on the ground?
-
Discuss the approach you would take to building a system for playing Scrabble or another word game of the sort. What limitations does your system have? How likely do you think it is that your system...
-
Discuss the current state of the art of game-playing computer systems in relation to the following games: chess, checkers, Go, bridge, Othello, tic-tac-toe. What advances are likely in the near...
-
Show the steps that would be taken in running the Minimax algorithm on the game tree in Figure 6.7. Now run through the same tree using alpha-beta pruning. How do the two compare? data from figure...
Study smarter with the SolutionInn App