1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alborosie
3 years ago
12

Faldo Corp sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-e

nd receivables were $60,000. If its DSO is less than the 45-day credit period, then customers are paying on time. Otherwise, they are paying late. By how much are customers paying early or late? Base your answer on this equation: DSO - Credit Period = Days early or late, and use a 365-day year when calculating the DSO. A positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91
Business
1 answer:
den301095 [7]3 years ago
6 0

Answer:

b. 22.38

Explanation:

The credit period to pay for merchandise is 45 days, sales for last year = $325,000, therefore sales/day (daily sales) = $325,000/365 = $890.41

Year-end receivables = $60,000

Company DSO = Year-end receivables/ daily sales = $60000/$890.41 = 67.38

The difference between the Company DSO and credit period determines if the payment is early or late. A positive answer indicates late payments, while a negative answer indicates early payments.

Therefore, Company DSO - credit period = 67.38 - 45 = 22.38

Since the difference is positive, it is a late payment

You might be interested in
List two examples of service you have purchased in the past or may purchase in the future
Sphinxa [80]

Services are actions that you purchase for someone to do for someone else. Basic examples of services are tutoring, hair cuts, car repairs, medical appointments, cleaning service, tech support.

Goods are tangible items that can be physically owned while most services are intangible.

3 0
3 years ago
(1) Quality of products available in superstore.
Julli [10]

Explanation:

i am confused, is this a survey? I shall answer it than

c

c

c

c

c

none

you're welcome

7 0
3 years ago
Dave Malloy is a marketing director for the Redding Company. His recent trip to a developing Asian country got off to an awkward
xxMikexx [17]

Answer:

d. cultural

Explanation:

Cultural barrier -

It is the expectation or rule according to any culture which prevents someone for any other culture from being included .

The most common cultural barriers are the religion and language .

Same is the case with Dave Malloy , as he treated the with a hearty handshake , but did not get a warm or good regards from the other person .

Because for each and every cultural and religion , the method of welcoming someone is different , hence , the case given in the question is of cultural barrier .

8 0
3 years ago
I knew their support was conditional even though they seemed friendly (use unconditional)​
Firdavs [7]

Answer:

I know their support was not unconditional though they seem friends.

Explanation:

If you are the Bhutanese student then I am sure this question came in 2017 BHSEC. Best of luck.

8 0
2 years ago
Fes Company is making adjusting journal entries for the year ended December 31, 2018. In developing information for the adjustin
anyanavicka [17]

Answer:

Fes Company

1. Amount to report on the 2018 income statement as Insurance Expense

= $3,400

b. Amount to report on the December 31, 2018 balance sheet as Prepaid Insurance

= $3,400

2. Amount to report on the income statement as Supplies Expense

= $72,600

b. Amount to report on the balance sheet as Supplies = $8,400

3. The accounting equation effects of the adjustment for:

a) Insurance

Assets (Prepaid Insurance -$3,400) = Liabilities + Equity (Retained Earnings -$3,400 as Insurance Expense)

b) Supplies

Assets (Supplies - $4,600) = Liabilities + Equity (Retained Earnings -$4,600 in addition to Supplies Expense)

Explanation:

Adjusting Journal Entries:

a.

Debit Insurance Expense $3,400

Credit Prepaid Insurance $3,400

To adjust for expense for the year.

b.

Debit Supplies Expense $4,600

Credit Supplies $4,600

To adjust for used supplies.

Workings:

Supplies

Dec. 31, 2018 Balance   $13,000

Supplies on hand              8,400

Supplies used                 $4,600

Dec. 31 Supplies Expense Balance   $68,000

Supplies used                                       $4,600

Total supplies expense = $72,600

4 0
3 years ago
Other questions:
  • The set of activities that relate to the creation of goods and services through the transformation of inputs to outputs is refer
    13·1 answer
  • Is it possible that there really was a krait under the sheet?
    9·1 answer
  • Q 7.13: a(n)________ requires a journal entry by the depositor.
    8·1 answer
  • Facing stiff competition in the e-reader market, Sumac Industries wants to protect its competitive advantage by increasing the p
    13·1 answer
  • Refurbish, Inc. bought 1,000 shares of its own stock at $8 a share. Later, it reissued the shares for $10,000. The effect of the
    9·1 answer
  • McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekly wage o
    8·1 answer
  • During the month of February, Rubio Services had cash receipts of $7,900 and cash disbursements of $9,400. The February 28 cash
    15·1 answer
  • When an accelerated depreciation method is used to calculate depreciation expense: Multiple Choice the accumulated depreciation
    5·1 answer
  • In order to accurately assess the capital structure of a firm, it is necessary to convert its balance sheet figures to a market
    9·1 answer
  • Congress has the power to create special courts. True False
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!