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Finger [1]
2 years ago
9

The financial statements of the imagine company report net sales of $1,000,000 and accounts receivable of $700,000 and $300,000

at the beginning of the year and end of year, respectively. what is the accounts receivable turnover for the imagine company?
Business
1 answer:
Viefleur [7K]2 years ago
8 0
The answer is 2 times.
 
Accounts recievable turnover ratio = net sales / average accounts recievable

=1,000,000 ÷ (700,000+300,000 ÷ 2)
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Geothermal corp. just announced good news: its earnings have increased by 20%. most investors had anticipated an increase of 25%
Nataly_w [17]
The answer would be the stock price will decrease. The reason behind this is the original price replicates an expectation or looking forward of a 25% upsurge in the company’s earnings. The actual increase is a dissatisfaction compared to original expectations.
3 0
3 years ago
Rugged Bicycles, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. If
damaskus [11]

Answer:

$412,500

Explanation:

March

Cash receipts from sales on account for April = $400,000 * 75%

Cash receipts = $300,000

April

Cash receipts from sales on account for April = $450,000 * 25%

Cash receipts = $112,500

Total Cash receipts = Cash receipts from sales on account from March + Cash receipts from sales on account from April

Total Cash receipts = $300,000 + $112,500

Total Cash receipts = $412,500

5 0
2 years ago
For each of the following cash activities, choose the appropriate letter to match the activity with the internal control princip
Helen [10]

Answer:

A. Restrict access

C. Establish responsibility

D. Document procedures

B. Independently verify

Explanation:

A. Restrict access, as the password is set to address the cash register, that is a security is being provided, and this is because, there is a restricted access, for the safety purpose.

C. Establish responsibility - As the treasurer is held liable of making and receiving any checks, and that he is the person who shall monitor such things, related to transactions in checks.

D. Document procedures - since a list is prepared for the checks received in mail, it is mere preparation of records and documentation of what checks are received and what not.

B. Independently verify - Bank Reconciliation Statement is prepared to verify the transactions and match the balance in books with that of the bank pass book.

6 0
2 years ago
The following Information applies to the questions displayed below.) Bargain Rental Car offers rental cars in an off-airport loc
butalik [34]

Answer:

a. The variable cost per rental return is $4.04.

b. The monthly fixed cost Incurred to wash cars is $1,376.

Explanation:

Note: See the attached excel file for the calculations of Rental Returns (x), Car Wash Costs (y), xy, and x^2.

Since Σ = Total of or summation of, we can therefore obtain the following from the attached excel file:

Σx = 34,854

Σy = 157,317

Σxy = 462,541,971

Σx^2 = 102,623,516

N = Number of months = 12

a. calculation of variable cost per rental return

To calculate the variable cost per rental return, the following formula is used:

Variable cost per rental return = (NΣxy − ΣxΣy) /((NΣx²) − (Σx)²) ……………… (1)

Substituting the relevant values into equation (1), we have:

Variable cost per rental return = ((12 * 462,541,971) - (34,854 * 157,317)) / (((12 * 102,623,516) - 34,854^2)

Variable cost per rental return = 4.03917240317595

Rounding to 2 decimal places as required, we have:

Variable cost per rental return = $4.04

Therefore, the variable cost per rental return is $4.04.

b. Calculation of monthly fixed cost Incurred to wash cars

To calculate the monthly fixed cost Incurred to wash cars, the following formula is used:

Fixed Cost per month =  {Σy - (Variable cost per rental return * Σx) / N ....... (2)

Substituting the relevant values into equation (2), we have:

Fixed Cost per month = (157,317 - (4.04 * 34,854)) / 12

Fixed Cost per month = $1,375.57

Rounding to the nearest whole dollar amount as required, we have:

Fixed Cost per month = $1,376

Therefore, the monthly fixed cost Incurred to wash cars is $1,376.

Download xlsx
8 0
3 years ago
HUD, Co. had a beginning retained earnings of $29,825. For the year, the company had net income of $6,540 and paid dividends of
marissa [1.9K]

Answer:

$38,265

Explanation:

Beg RE = $29,825

Plus Net Income = $6,540

Minus Dividends = ($2550)

Plus New Stock = $4450

Ending RE = $38,265

6 0
2 years ago
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