Creative Co., Inc., the electronics and appliance chain, reported these figures in millions of dollars: Requirements 1.
Question:
Requirements
1. Compute Creatives days sales in receivables, or days sales outstanding (DSO) during 2013.
2. Is Creatives DSO long or short? Nerad Networks takes 39 days to collect its average level of receivables. Fast Freight, the overnight shipper, takes 33 days. What causes Creatives collection period to be sodifferent?
Transcribed Image Text:
2013 2012 Net sales. Receivables at end of year...3,810 4,310 ..$570,000 $604,500
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (7 reviews)
Req 1 Average collection period Millions of dollars One days sales ...View the full answer
Answered By
MICHAEL KICHE
I was employed studypool for the first time in tutoring. I did well since most of my students and clients got the necessary information and knowledge requested for. I always submitted the answers in time and followed the correct formatting in answering eg MLA or APA format,
Again I worked with the writers bay where I did writing and got many clients whom we worked with so closely. They enjoyed every single service I delivered to them. My answers are always correct.
4.70+
13+ Reviews
53+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Question Posted:
Students also viewed these Accounting questions
-
Assume Loblaw Companies Limited reported these figures in millions of dollars: Requirements 1. Compute Loblaw's average collection period during 2014. 2. Was Loblaw's collection period long or short?...
-
Assume Loblaw Companies Limited reported these figures in millions of dollars: _________________________________________________2017 ________2016 Net...
-
The plot shows total payroll in millions of dollars for the 30 major league teams of professional baseball sorted by league (National or American) and division (East, Central, West). a. Identify the...
-
An arm ABC lying in a horizontal plane and supported at A (see figure) is made of two identical solid steel bars AB and BC welded together at a right angle. Each bar is 20 in. long. Knowing that the...
-
The statement of cash flows is said to be of assistance in evaluating the financial strength of an entity, yet the statement can exclude significant non-cash transactions that can materially affect...
-
Assume that Del Rey files a lawsuit against La Grande Enchilada, claiming that his franchise was wrongfully terminated. What is the main factor that a court would consider in determining whether the...
-
A nozzle is designed to accelerate the fluid from \(V_{1}\) to \(V_{2}\) in a linear fashion. That is, \(V=a x+b\), where \(a\) and \(b\) are constants. If the flow is constant with \(V_{1}=10...
-
4. (Chapter 3) Skycell, a major European cell phone manufacturer, is making production plans for the coming year. Skycell has worked with its customers (the service providers) to come up with...
-
Project teams can be made up of individuals from all over the country and around the world, with different time zones, cultures, work practices, languages, etc. In your role as a Project Manager,...
-
Rikkers Company sold 2,500 units of its product at $98 per unit in year 2011 and incurred operating expenses of $14 per unit in selling the units. It began the year with 740 units in inventory and...
-
Algonquin, Inc., reported the following items at December 31, 2012, and 2011: Requirements 1. Compute Algonquins (a) quick (acid-test) ratio and (b) days sales in average receivables for 2012....
-
Summer Corporation, the investment banking company, often has extra cash to invest. Suppose Summer buys 700 shares of Musica, Inc., stock at $59 per share. Assume Summer expects to hold the Musica...
-
The formula for the power output P of a battery is P = VI - RI where V is the electromotive force in volts, R is the resistance in ohms, and I is the current in amperes. Find the current that...
-
An 86 kg passenger in an SUV traveling at 1200 km/h is wearing a seat belt. The driver slams on the brakes and the SUV stops in 42 m. Find the magnitude of the force exerted by the seat belt on the...
-
Which of these telescopes has the largest mirror, that is, the most "light gathering" capability? Hubble Space Telescope, oribing Earth every 90 minutes. James Webb Space Telescope, in orbit around...
-
Lim receives a car from his employer as part of his employment package. Use the following details to determine the amount of FBT the employer would pay (if any) for providing the car for the 2023 FBT...
-
February 26 The company paid cash to Lyn Addie for eight days' work at $120 per day. March 25 The company sold merchandise with a $2,400 cost for $3,200 on credit to Wildcat Services, invoice dated...
-
Q3. Discuss, with the help of an example, how variability in product or process performance leads to customer dissatisfaction, even though the average performance is considered good. Further, how can...
-
Sphalerite is the naturally occurring mineral zinc sulfide, from which zinc metal is extracted. The ore is heated in oxygen to form zinc oxide and sulfur dioxide, followed by the reaction of metal...
-
What is the maximum volume of 0.25 M sodium hypochlorite solution (NaOCl, laundry bleach) that can be prepared by dilution of 1.00 L of 0.80 M NaOCl?
-
Match the items in the two columns below by entering the appropriate code letter in the space provided. A. Managerial accounting B. Financial Accounting C. Planning D. Controlling 1. The function of...
-
Using the data in BE4-6, journalize and post the entry on July 1 and the adjusting entry on December 31 for Craig Insurance Co. Craig uses the accounts Unearned Service Revenue and Service Revenue.
-
The bookkeeper for Forseth Company asks you to prepare the following accrual adjusting entries at December 31. (a) Interest on notes payable of $300 is accrued. (b) Service revenue earned but...
-
The trial balance of LaGrace Company includes the following balance sheet accounts. Identify the accounts that might require adjustment. For each account that requires adjustment, indicate (1) The...
-
6. Write out the truth tables for: a) a 3 input and gate b) an exclusive or gate c) a two input inclusive or gate 3 7. Describe the microprocessor instruction you would use to: 8. a) set bit 4 of a...
-
Alex Corporation reports the following components of stockholders' equity at December 31 of the prior year. Common stock-$25 par value, 50,000 shares authorized, 33,000 shares issued and outstanding...
-
A manufacturer reports finished goods inventory of $820 on June 1 and $1,130 on June 30. Cost of goods manufactured for June is $5,460. What is cost of goods sold for June? Cost of Goods Sold Cost of...
Study smarter with the SolutionInn App