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lord [1]
4 years ago
13

Accounts Receivable Analysis A company reports the following: Sales $1,500,000 Average accounts receivable (net) 100,000 Determi

ne (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Business
1 answer:
Fudgin [204]4 years ago
8 0

Answer:

A) The account receivables turnover is 15, and B) the number of days sales in receivables is 24.3 days.

Explanation:

A) FORMULA FOR ACCOUNT RECEIVABLES TURNOVER =

NET SALES   /   AVERAGE ACCOUNT RECEIVABLES

Given information -

Net sales = $1500,000

Average account receivables = $100,000

Putting the values in formula -

= $1500,000  /   $100,000

= 15

B) FORMULA FOR NUMBER OF DAYS SALES IN RECEIVABLES =

365 / ACCOUNT RECEIVABLES TURNOVER

= 365 / 15

= 24.3 DAYS

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Leslie Manufacturing reported the following:Revenue $450,000Beginning inventory of direct materials, January 1, 2015 20,000Purch
Bogdan [553]

Answer:

$109,000

Explanation:

The accounting equation for the cost of goods sold

COGS = opening finished good + purchases - Closing finished goods

In a manufacturing firm, purchases are also referred to as manufacturing costs.

For Leslie manufacturing:

beginning finished inventory =$40,000

costs of goods manufactured = $ 144,000

Ending finished inventory = $ 45,000

cost of  manufacturing for the period:

=$40,000 +$114,000- $45,000

=$109,000

5 0
3 years ago
A $3,000 annual contribution to a retirement account earning 6% will be worth ____ in 20 years.
Bond [772]

Answer with Explanation:

Question does not state what kind of interest, here are the three common possibilities:

1. Simple interest of 6%:

Future value (FV) = 3000*(1+0.06*20) = $6600

2. compounded annually:

Future value (FV) = 3000*(1+0.06)^20 = $9621.41 (nearest cent)

3. compounded monthly:

Future value (FV) = 3000*(1+0.06/12)^(20*12) = $9930.61 (nearest cent)

4 0
3 years ago
Read 2 more answers
List two reasons why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-eff
borishaifa [10]

Answer:

Explanation: two reasons for why someone looking at a career in the Energy cluster might want to focus on new technology, such as energy-efficient products or sustainable energy; Energy efficient technologies are now found in most energy conversion chains.Mar 9, 2020

7 0
3 years ago
A property owner had a stroke and is unable to take care of himself. He has no heirs so a court placed him in a nursing home and
julia-pushkina [17]

Answer: Tax lien

Explanation:

Tax lien could be defined as a federal obligation which the government carries out when you fail to pay tax debt. The government accumulates the total tax.

The property owner got exposed as regards tax payment plan which was not paid.

federal tax lien is the government's legal claim against your property when you neglect or fail to pay a tax debt. ..

3 0
3 years ago
An investor wishes to invest equal amounts in three stocks and to achieve a portfolio beta of 1.2. If stock A has a beta of 0.9
photoshop1234 [79]

Answer:

Beta of Stock C is 1.6

correct option is d. 1.6

Explanation:

given data

portfolio beta = 1.2

stock A beta = 0.9

stock B beta = 1.1

to find out

beta of stock C

solution

we will apply here Portfolio Beta equation that is express as

Portfolio Beta = ( Weight of Stock A × Beta of Stock A ) + ( Weight of Stock B   × Beta of Stock B ) +  ( Weight of Stock C × Beta of Stock C )    ......................1

here weight for each stock = \frac{1}{3}

put here value we will get

1.2 =  ( \frac{1}{3} × 0.9 ) + ( \frac{1}{3} × 1.1 ) +  ( \frac{1}{3} × Beta of Stock C )

solve it we will get

Beta of Stock C = 1.599

so Beta of Stock C is 1.6

and correct option is d. 1.6

8 0
3 years ago
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