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Marrrta [24]
3 years ago
8

Q 8.14: 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:
sesenic [268]3 years ago
6 0

Answer:

2 times

Explanation:

The computation of accounts receivable turnover is shown below:-

Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable

where,

Net credit sales is $1,000,000

And, the Average accounts receivable is

= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2

= ( $700,000 + $300,000) ÷ 2

= $500,000

Accounts receivable turnover = Net sales ÷ Average accounts receivable

= $1,000,000 ÷ $500,000

= 2 times

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<h3>What is  unethical behavior?</h3>

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1 year ago
Write an essay on 'teachers and students'​
faust18 [17]

Answer:

A teacher is a beautiful gift given by god because god is a creator of the whole world and a teacher is a creator of a whole nation. A teacher is such an important creature in the life of a student, who through his knowledge, patience and love gives a strong shape to student's whole life.

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2 years ago
Harrison Ford Company has been approached by a new customer with an offer to purchase 10,000 units of its model IJ5 at a price o
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Answer:

For the special order the company will not incur any additional fixed cost as the special order is within the normal range of production.

Sales ( 10000 * 5 ) 50000

(-) Direct materials ( 10000 * 1.75 ) 17500

(-) Direct labor ( 10000 * 2.50 ) 25000

(-) Variable overhead ( 10000 * 1.50 ) 15000

Income / (loss) (7500)

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3 years ago
During the last year, Len Corp. generated $1,170.00 million in cash flow from operating activities and had negative cash flow ge
Anit [1.1K]

Answer:

The firm’s cash flow (CF) due to financing activities in the second year is    - $450 million

Explanation:

As we know that,

Net increase in cash = Operating activity - investing activity - financing activity

where,

Net increase in cash = Ending balance of second year  - ending balance of first year

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(Life-Cycle Hypothesis) According to the life-cycle hypothesis, what is the typical pattern of saving and spending for an indivi
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Answer & Explanation:

Modiglani's Life cycle Hypothesis depicts spending & consumption pattern of people, in order to stabilise / or smoothen their consumprtion. The theory has following phases :

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