1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
Ted earned $150,000 during the current year. He paid Alice, his former wife, $75,000 in alimony. The couple divorced in 2016. Un
aleksklad [387]

Answer:

The answer is: True

Explanation:

Tax law was changed for the 2019 tax year, (Tax Cuts and Jobs Act 12-22-2017), alimony is no longer tax deductible nor the recipient has to report them as income. This change in the law will be in effect from 2019 through 2025.

The only exceptions that apply are those couples who had finalized their divorce agreements before the end of 2018. Since Ted and Alice got divorced in 2016, the change doesn´t apply to them.

8 0
2 years ago
On a production, possibly a curve, data points that fall outside of the curve represent
MissTica
Income products.out products curve point
4 0
2 years ago
Grandma's Bakery wants to begin selling gluten-free products and vegan products. The C-Suite executives have made the decision a
8_murik_8 [283]

Answer:

The correct answer is letter "B": functional managers.

Explanation:

Functional managers are those in charge of carrying out the operations of a business. These types of executives receive orders from the company's owners -stakeholders- after an analysis of what course the firm should take according to current market conditions so the managers can implement the plan in the organization's activities.

6 0
3 years ago
EB3.
kondaur [170]

Answer:

Their net operating income for the year was $39,628

Explanation:

Flip or Flop's net operating income for the year = Gross revenue - Cost of Goods Sold - Operating expenses

Their Cost of Goods Sold (COGS) was 21% of gross revenue, therefore:

Cost of Goods Sold = 21% x $93,200 = $19,572

The company has operating expenses for this same period of $34,000.

Net operating income for the year = $93,200 - $19,572 - $34,000 = $39,628

7 0
3 years ago
A bond has a $1,000 face value, a market price of $989, and pays interest payments of $69.50 every year. What is the coupon rate
____ [38]

Answer:

6.95

Explanation:

Coupon rate = $69.50/$1,000 = .0695, or 6.95 percent

4 0
2 years ago
Other questions:
  • The Landry Company has developed standards for labor. During June, 69 units were scheduled and 100 were produced. Data related t
    10·1 answer
  • Services had net income for the month of October of $ 23 comma 040. Assets as of the beginning and end of the month totaled $ 36
    12·1 answer
  • If the price elasticity of supply is 0.6, and a price increase led to a 3.7 percent increase in quantity supplied, then the pric
    12·1 answer
  • The auto repair shop of Quality Motor Company uses standards to control the labor time and labor cost in the shop. The standard
    9·1 answer
  • Project Manager Mary Ann is not a member of PMI but has applied for PMI certification. She has a meeting with the representative
    14·1 answer
  • Mullen Company purchased a new machine costing $55,200 on January 1, 2017. The machine is expected to have a $3,600 salvage valu
    15·1 answer
  • The ________ approach to developing a positioning strategy involves positioning apart from competitors through the creation or u
    10·1 answer
  • Explain the governance of internet​
    14·2 answers
  • Why is it important for the business owner to<br> understand the market they are selling to?
    14·1 answer
  • __________is the name for the doctrine that holds that the manufacturer of a product has legal responsibilities to compensate th
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!