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Westkost [7]
3 years ago
7

The Perry Company reported Accounts Receivable, Net of $65,800 at the beginning of the year and $73,000 at the end of the year.

If the company's net sales revenue during the fourth year was $884,000, what are the days to collect during year? (Round all calculations to 1 decimal place.)
Business
1 answer:
VikaD [51]3 years ago
4 0

Answer:

28.6 days

Explanation:

Avg Receivables= Beg Receivables + Ending Receivables /2

=65,800+73,000/2

=$138,800/2

=$69,400

Receivable turn over= Net Sales/ Avg Receivables

=884,000/69,400

=12.74

days to collect during year= 365/ Receivable turn over =365/12.7

=28.6 days

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lana [24]

Answer:

The correct answer is letter "A": market share.

Explanation:

Market share is calculated by taking a company's sales over a period and dividing it by the total sales of the industry over the same period. This measure is used to give the business and its rivals a general idea of the size of the company regarding its overall sector.

5 0
3 years ago
Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question ma
FromTheMoon [43]

Answer:

These two are cash equivalents:

Money market funds

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Because they represent short-term investments that a company makes with the goal of getting rid of any excess cash that would otherwise be left unused while it is losing value because of inflation.

In other words, the main goal of investments in money market funds and three-month treasury bills, is to prevent cash from losing value due to inflation, and because of that, those investments are considered cash equivalents.

3 0
3 years ago
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What is the rate of interest on a loan of $2,000, for 284 days, if the amount of interest is $93.37, using the exact interest me
vesna_86 [32]

Exact interest method is using 365 days instead of 360.

 

We are going to use the formula: I = Prt, we will derived the formula of rate.

r = I /Pt would be our formula, plugging in our amounts.

r = 93.37 / 2000 / (284/365)

= 93.37 / 2000 (0.7781)

= 93.37 / 1556.1643

= 0.06 or 6% when converted to percent.

 

To check:

I = Prt

= 2000 x 0.06 x 284/365

= 120 x 0.7781

= 93.37

4 0
3 years ago
which of the following is an example of a project that belongs to the functional area of accounting and finance? a. market resea
Semenov [28]

Planning a firm's initial public offering is an example of a project that belongs to the functional area of accounting and finance.

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Number one markets are facilitated by way of underwriting corporations such as investment banks that set a starting charge range for a given protection and oversee its sale to buyers.

As soon as the initial sale is entire, similarly, trading is performed at the secondary marketplace, wherein the bulk of trade trading occurs every day.

Learn more about finance here: brainly.com/question/26499492

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3 0
1 year ago
Molly's auto detailers maintains its records on the cash basis. During 2018, molly's collected $72,800 from customers and paid $
igor_vitrenko [27]

Accrued Net Income will be calculated as below:

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Cash Income                                         $52400

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Less: Reduction in Prepaid Exp             $1900

Add: Reduction in Acc Liab                    $1700

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Depreciation will be reduced as its an expense and all expenses will be reduced.

Increase in Accounts Recievables indicate there have been sales which have not been paid for yet, thus sales will increase and this needs to be added

Reduction in Prepaid Expenses refer to expenses being paid off earlier but now need to be recognised, thus these need to be added to expenses

Reduction in accrued liabilitites indicate that expenses of previous period have been paid off now thus those need to be reduced from cash expenses.

6 0
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