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blagie [28]
3 years ago
14

Baxley Brothers has a DSO of 17 days, and its annual sales are $6,570,000. What is its accounts receivable balance? Assume that

it uses a 365-day year. Round your answer to the nearest cent.
Business
1 answer:
Anna71 [15]3 years ago
6 0

Answer:

Accounts receivable balance=$306,000.

Explanation:

Given Data:

DSO=17 days

Annual sales=$6,570,000

Number of days in year=365 days

Required:

Accounts receivable balance=?

Solution:

DSO=\frac{Account\s receivable}{Average\ Sales\ Per\ Day}

Average sales per day:

Average\ sales\ Per\ day=\frac{Annual\ Sales}{Days\ In\ year}\\ Average\ sales\ Per\ day=\frac{\$6,570,000}{365}\\ Average\ sales\ Per\ day=\$18,000

Calculating account receivable:

Account\ receivable=DSO*Average\ sales\ Per\ day\\Account\ receivable=17*\$18,000\\Account\ receivable=\$306,000

Accounts receivable balance=$306,000.

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3 years ago
Affiliated directors are A. employees of the corporation. B. directors in an interlocking directorate. C. outside directors who
zvonat [6]

Affiliated directors in a company are D. agents of top management.

<h3>Who are affilaited directors??</h3>

These are directors that sit on the board who are not independent because they have links to the shareholders who put them there.

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Find out more on affiliated directors at brainly.com/question/13963102.

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6 0
2 years ago
Economic expansions in Europe and China would cause a. the U.S. price level to fall and real GDP to rise. b. the U.S. price leve
Firdavs [7]

Answer:

d. the U.S. price level and real GDP to rise.

Explanation:

Economic expansion refer to the expansion that has rise in the economic activity and goods availability. In this period, the real GDP is also increased

So as per the given situation since there is an economic expansion in Europe and the China so here the level price of the united states and read GDP would rised

therefore the option d is correct

4 0
3 years ago
Accounting data are used analyze cash flows, and this analysis is critical for decision making. Consider the following case: J&a
inessss [21]

Answer:

a. J&H Corp.'s net operating working capital is $105.0 million.

d. The company has no notes payable reported in its balance sheet, so all its current are its operating liabilities.

Explanation:

cash $245

short term investments $259

accounts receivable and inventory $196

total current assets = $700

long term assets = $1,120

total assets = $1,820

total liabilities = $595

total equity = $1,225

options:

a) net operating working capital = current assets - current liabilities = $700 - $595 = $105

b) there is no information about the company's profits or the average profits for other companies in the same industry (SO OPTION B IS WRONG)

c) net operating capital = current assets - current liabilities (SO OPTION C IS WRONG)

d) correct, since the company doesn't have any long term liabilities, all of its liabilities must be current or operating liabilities

e) there is no way to determine this from the information provided (SO OPTION E IS WRONG)

3 0
3 years ago
What is one way that technology can improve the production of goods?
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Production of Goods depends upon the technology used in the factory or in the machines of production. In order to improve the production of goods, the machines should be of advances technology.

For example, in order to print pages speedily, you need to buy an advances technology printer.


Hence one way that technology can improve the production of goods is using the advances and innovative technology which shall increase the efficiency and improve the production.



5 0
3 years ago
Read 2 more answers
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