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BARSIC [14]
3 years ago
7

The financial statements of the larson company report net sales of $1,000,000 and accounts receivable of $80,000 and $60,000 at

the beginning of the year and end of year, respectively. what is the average collection period for accounts receivable in days?
Business
1 answer:
stepan [7]3 years ago
4 0
<span>To calculate the average collection period: the average accounts receivable balance divided by average credit sales per day. With $1,000,000 per year, that is $2739.73 per day. The average accounts receivable is ($80,000 + $60,000) / 2 = $70,000 $70,000 / $2,739.73 = 25.6 days</span>
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Price Manufacturing assigns overhead based on machine hours. The Milling Department logs 1,800 machine hours and Cutting Departm
kifflom [539]

Answer and Explanation:

The Journal entry is shown below:-

Work in progress Dr, $24,000

        To Manufacturing Overhead $24,000

(Being the overhead assigned is recorded)

For recording this we debited the work in process as it increased the assets and credited the manufacturing overhead for assigning the overhead

Working note

Overhead amount = (Milling Department + Cutting department) × Overhead rate

= (1,800 + 3,000) × $5

= $4,800 × $5

= $24,000

5 0
3 years ago
Michael has the ability to create and articulate a realistic, credible, and attractive vision of the
irina1246 [14]

Answer:

Visionary.

Explanation:

A visionary leader is someone who has a clear-cut idea of what he/ she wants in the future. This type of leader will be able to not only create and articulate a clear idea, a realistic idea but also be credible and provide an attractive vision for the company's future.

The leader will help set up a realistic plan to further improve the company, bringing his vision to reality. This will help the company or organization to grow and improve. Likewise, Michael is a visionary leader, with his creative and realistic vision for the organization. He will lead the team to a better, improved future for not only himself but everyone.  

6 0
2 years ago
After much deliberation you decide to pay $8.00 to get one dozen of kk donuts for breakfast this friday instead of spending the
alexdok [17]
<span>The opportunity cost is $8 for buying the dozen donuts. Even though the prices are the same, there is still the cost of the foregone entertainment that will not be enjoyed because of the purchase of the donuts. Had the donuts not been purchased, one would have gone to see the movie, and now this will not happen due to the donut purchase.</span>
7 0
3 years ago
"could you please try to explain it in a different way so i can understand better?" is an example of a negative question.
Vlada [557]
<span>No, this kind of a sentence is not an example of a negative question. It simply uses some of the already established </span><span><span>information </span> to clarify points and then ask for further details. If the person had said "I do not understand what you said, can you explain it again", then it can be considered as a negative question.</span>

8 0
3 years ago
The U.S. government pays an economist at the U.S. Department of Commerce $50,000 in salary in 2006. The economist then retires.
Phantasy [73]

Answer:

d.  

The 2006 payment is included in 2006 GDP as government purchases, but the 2007 payment is not included in 2007 GDP.

Explanation:

The 2006 salary was of that year's service provided by the Economist. So it is included in 2006 GDP.

The retirement benefits in 2007 is a transfer payment by government where benefits are paid without any service to be received in return. Transfer payments are not included in GDP

8 0
3 years ago
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