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
Aliun [14]
3 years ago
6

Peterboro Supply has a current accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. Ho

w long did it take on average for credit customers to pay off their accounts during the past year
Business
1 answer:
andreyandreev [35.5K]3 years ago
5 0

Answer:

Time taken will be 31.35 days

Explanation:

We have given account receivable = $391648

Credit sales for the year = $5338411

Number of days in an year = 365 days

We have to find the time taken on average for credit customers to pay off their accounts during the past year

Time taken is given by =\frac{365\times account\ receivable}{credit\ sales}=\frac{365\times3 91648}{5338411}=31.35days

You might be interested in
Heather has been assessing a number of her firm's products using the Boston Consulting Group approach to portfolio analysis. She
Colt1911 [192]

Answer:

The relative market share of the product

Explanation:

Relative market share of a company or product is a measure that is used to compare the market of a company or product to the market of the largest company, product or competitor in the market. That is, the benchmark that is employed to estimate relative market share is the market share of the leader in the market.

Relative market share is useful in assessing the success, strength and position of a product or firm in the market.

Therefore, Heather is working on determining the relative market share of the product.

6 0
3 years ago
Risser Woodworking Corporation produces fine cabinets. The company uses a job-order costing system in which its predetermined ov
erma4kov [3.2K]

Answer:

Gross margin $22,346

Explanation:

The computation of the gross margin is shown below:

Sales             $66,300

less:

Direct material  $15,900

Direct labor   $14,430

Overhead $13,624 ($16,244 ÷ 310× 260)

Gross margin $22,346

Hence, the gross margin is $22,346

4 0
3 years ago
Alex paid $600 to Rita, his ex-wife, for child support. Under the terms of the divorce decree, Alex claims the dependency exempt
dsp73

Answer:

$0

Explanation:

Since Alex's child does not live with him for at least 6 months plus one day, he doesn't qualify for any income credit.

Alex himself cannot claim the earned income credit for an individual without a qualifying child because he is just 24 years old, and you must me at least 25 years old to qualify.

7 0
4 years ago
The main reason price ceilings are set is so that consumer prices
shepuryov [24]

Answer:

The main reason for imposing price ceilings is to protect the interests of the consumers in situations in which they are not able to afford needed commodities.

Explanation:

3 0
2 years ago
Big Homes Corporation is an accrual method calendar year taxpayer that manufactures and sells modular homes. This year for the f
Nina [5.8K]

Answer:

What amount of the rebates, if any, can Big Homes deduct this year?

$19500

Explanation:

$19,500 if this amount is not material, Big Homes could  continue  offering rebates in next sells, in addition expects to pay the accrued rebates before filing their tax return for this year.

4 0
3 years ago
Other questions:
  • A computer program is an example of _____.
    7·1 answer
  • A shoe manufacturer sells high-end designer shoes to wholesalers who, in turn, sell a variety of shoes and other leather accesso
    6·1 answer
  • Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its
    6·1 answer
  • Content theories attempt to explain work behaviors based on __________.
    8·1 answer
  • How do job agencies help you find a job and how does it work?
    10·1 answer
  • For purposes of computing depreciation on the taxpayer's home for the home office deduction, the depreciable basis of the home i
    10·2 answers
  • ⇒PsAlM 56:3⇔⇔ when i am afraid i put my trust in you>
    13·1 answer
  • 1. An open market purchase A. shifts the supply curve for reserves to the right and causes the federal funds rate to fall. B. sh
    12·1 answer
  • Which of the following would have an inventory of municipal security secondary market positions?
    14·2 answers
  • Food Well Inc. is an organization that operates several companies that market bulk food products, restaurant equipment, and disp
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!