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Andrew [12]
3 years ago
14

The financial statements of Vaughn Manufacturing Company report net sales of $643100 and accounts receivable of $92000 and $2600

0 at the beginning and end of the year, respectively. What is the accounts receivable turnover for Vaughn?
Business
1 answer:
Sloan [31]3 years ago
3 0

Answer:

The correct answer is 10.9 times.

Explanation:

According to the scenario, computation of the given data are as follow:-

Average account receivable = (Opening account receivable + Closing accounts receivable) ÷ 2

= ($92,000 + $26,000) ÷ 2

= $118,000 ÷ 2

= $59,000

We can calculate the account receivable turnover by using following formula :-

Accounts receivable turnover = Net sales ÷ Average Account receivable

= $643,100 ÷ $59,000

= 10.9 times  

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Andrej [43]

Answer:

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Explanation:

Given:

Per capita GDP of United states = $32,000

Per capita GDP of China = $4,000

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Growth rate of China = 7%

Now, By the rule of 70 , the GDP will double in \frac{\textup{70}}{\textup{Growth rate}} years

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The United States GDP will double in = \frac{\textup{70}}{\textup{2}}  = 35 years

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The GDP of united states in 35 years will be (2 × $32,000 ) = $64,000

this is equals to the 16 times the current GDP of the China

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The China GDP will double in = \frac{\textup{70}}{\textup{7}} = 10 years

Therefore,

The GDP of china will be

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in 20 years  = 2 × $8,000 = $16,000  ( i.e 4 times)

in 30 years  = 2 × $16,000 = $32,000  ( i.e 8 times)

in 40 years  = 2 × $32,000 = $64,000  ( i.e 16 times)

Hence, it will take 40 years for China to catch up with the united states

6 0
3 years ago
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