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Sedaia [141]
3 years ago
14

A company has the following information: Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Averag

e accounts receivable = $20,000 What is the company's average collection period (rounded to the nearest whole day)?
Business
1 answer:
andre [41]3 years ago
8 0

Answer:

The average collection period of the company is 18 days

Explanation:

The formula for computing the average collection period of the company is as follows:

Average Collection period = 365 / Accounts receivable turnover ratio

where

Accounts receivable turnover ratio is computed as:

Accounts receivable turnover ratio = Net credit sales / Average accounts receivable

Putting the values above:

Accounts receivable turnover ratio = $400,000 / $20,000

Accounts receivable turnover ratio = 20

Now putting the values of the Accounts receivable turnover ratio in the formula of average collection period:

Average collection period = 365 / 20

= 18.25 or 18 days

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It’s the amount gained and lost in the amount of time they were in business

4 0
3 years ago
You recently sold 100 shares of your new company, XYZ Corporation, to your brother at a family reunion. At the reunion your brot
3241004551 [841]

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Corporate shareholders escape liability for the firm's debts, but this factor may be offset by the tax disadvantages of the corporate form of organization

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3 years ago
The average total cost of producing electronic calculators in a factory is $20 at the current output level of 100 units per week
olga_2 [115]

Answer:

C. total cost is $3000

Explanation:

Fixed cost is $1000 no matter what per week.

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hope this helps

4 0
3 years ago
"Martha owns a chocolate factory where each chocolate treat is made by hand. Her assistant Daniel feels that the rate of product
Daniel [21]

Answer:

b) Initiator

Explanation:

As Martha owns a chocolate factory where each chocolate treat is made by hand. Her assistant Daniel feels that the rate of production can be dramatically increased if the company switched to an automated assembly line to manufacture the chocolates. When he proposes this idea to Martha, she agrees and begins evaluating different vendors who might provide the equipment to the company. Daniel has performed the role of initiator in this purchasing process. In purchasing process, there are many people involved:

Initiator - Influencer - Decider - Buyer - User

Initiator starts the idea, presents the idea of buying something which then is influenced and enhanced by the influencer, and then actual decider decides the buying product and is being bought then and further used by someone. These all persons can be the same person and or either one single person can perform all of these roles but here in this case Daniel has performed the role of initiator as he has given the advise of automation to Martha.

5 0
3 years ago
Which statement describes what happens to the carbon dioxide produced in cellular respiration?​
Rama09 [41]

Answer:

The right answer is B.

Explanation:

The equation is glucose + oxygen ==> carbon dioxide + water and energy is produced in the form of ATP.

Cellular respiration is a complete breakdown of glucose in the presence of oxygen, allowing a total release of its energy.

Glucose is "burned" in the presence of oxygen in the cells of animals and plants.

Breathing releases energy stored in glucose (during photosynthesis). The majority of this energy is transferred to ATP which can be used by all cells.

And the waste of respiration is carbon dioxide and water, which are precisely the raw materials of photosynthesis in chloroplasts (= closed circuit).

7 0
3 years ago
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