Question: Given the following fact pattern, please calculate how long on average it takes a company to collect its accounts receivable: - Annual revenue of

Given the following fact pattern, please calculate how long on average it takes a company to collect its accounts receivable: - Annual revenue of $32.655 - 365 days in the year - Accounts receivable balance of $2,125 - Cost of sales of $17.817

Step by Step Solution

★★★★★

3.34 Rating (160 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

A production analyst has found that on average it takes a new person T(x)minutes to perform a particular assembly operation after x performances of the operation, where T(x)=10 - 10- 3x 0 125. (A)...

Please draft a memorandum answering the following fact pattern and question. The length of the memorandum should be no longer than one page double spaced, but it should cover all relevant...

Use the following fact pattern to answer Capri County ordered $50,000 of goods at June 10, 2020 for Public Works. Approximately $40,000 of the order was received on June 19, the invoice was then...

Q1: Given the following fact pattern, please calculate how long on average it takes a company to collect its accounts receivable: - Annual revenue of $32,655 - 365 days in the year - Accounts...

Questions 2 1 to 3 0 rely on the following fact pattern and tableWith which activity are we most confident in our estimated duration? A ) Tack Wire B ) Weld Top Bar C ) Dig Holes D ) Corner Posts A...

2a. What formula below is commonly used to forecast accounts payable? Accounts Payable = Revenue x Payable Days / 365 Accounts Payable = Revenue x Payable Turnover Ratio Accounts Payable = Cost of...

Need help with these discussion postings (in a document) and assignments (all in separate files), all directions are included as well. FINANCE DIRECTIONS Need to provide 1 original post substantial...

pleaseee help there is no missing info read the question i attached everything needed 1. Input into an Excel spreadsheet the FY 2016 numbers for the company Sturm, Ruger \& Co, as posted on...

FIFC LO1, BRIEF EXERCISE 8.1 Smalley Co. purchased items of inventory as follows: 4 Jan. 100 units @ $2.00 23 Jan. 120 units @ $2.25 Smalley sold 50 units on 28 January. Compute the cost of goods...

book 978 161 853 1223 page 104, part k. question: Pearson's CFO found that Mcgraw Hills average collection period was 79 days for 2009, and he wanted to reduce the average collection period with that...

Fordman Companys break-even point is 8,500 units. Variable cost per unit is$140 and total fixed costs are $297,500 per year. What price does Fordman charge?

If Tania needs $30,000 a year from now for a down payment on a new house, how much should she put in a 1-year CD earning 5% a year compounding continuously so that she will have exactly $30,000 a...

Consider the electromagnetic suspension system shown in Figure AP3.1. An electromagnet is located at the upper part of the experimental system. Using the electromagnetic force f, we want to suspend...

In the end, we are all Keynesians." what do u think about this statement and defend your position.

ion if all of the bonding electrons were shared equally between atoms The formal charge is the "charge" an element would have in a molecule We can draw three inequivalent Lewis structures for carbon...

The strength of a covalent bond depends upon the size of the atoms and the bond order. In general short bonds are strong bonds. For each pair of covalently bonded atoms, choose the one expected to...

metal and a group nonmetal The following Lewis representation depicts a reaction between a group - 2- In this representation, each electron(s) and each atom gains atom loses electron(s). The bonds...

The length of a covalent bond depends upon the size of the atoms and the bond order. For each pair of covalently bonded atoms, choose the one expected to have the shortest bond length. (A) P-Br (B)...

Elsie had an AGI of $105,000 in 2025. All of her income was from wages. Elsie owned a rental house and actively participated in the management of the rental house. The rental house generated losses...

In the early morning on July 1, 2011, Kiwi Express Company had a major fire. All of the inventory was destroyed. In order to complete the insurance claim, the accountant needed an estimate of the...

From its headquarters in Calgary and its development, operations, and marketing facilities in Arizona, Kansas, and Texas, Hemisphere GPS Inc. designs, develops, and manufactures commercial and...

Explain how a prepaid expense (such as rent) is handled under accrual-basis accounting.

The paper Exercise Thermoregulation and Hyperprolactinaemia (Ergonomics, 2005: 15471557) discussed how various aspects of exercise capacity might depend on the temperature of the environment. The...

In an experiment to assess the effect of the angle of pull on the force required to cause separation in electrical connectors, four different angles (factor A) were used, and each of a sample of five...

The article The Effects of a Pneumatic Stool and a OneLegged Stool on Lower Limb Joint Load and Muscular Activity During Sitting and Rising (Ergonomics, 1993: 519535) gives the accompanying data on...