Money that has value because the government has ordered that it is an acceptable means to pay debts is referred to as

The Bear Rug has sales of $811,000. The cost of goods sold is equal to 63 percent of sales. The beginning accounts receivable ba

irina1246 [14]

Answer:

The average collection period is 17.78 days.

Explanation:

In this question, we have to first compute the average receivable turnover ratio.

The formula of the average receivable turnover ratio is shown below:

= Net credit sales ÷ Average accounts receivable

where,

Net credit sales are $811,000

And, the average accounts receivable equals to

= Beginning account receivable + ending accounts receivable ÷ 2

= $41,000 + $38,000 ÷ 2

= $39,500

So, the average receivable turnover ratio equals to

= $811,000 ÷ $39,500

= 20.53

Now, we calculate the average collection period, the formula is shown below

= Total Number of days in a year ÷ average receivable turnover ratio

= 365 ÷ 20.53

= 17.78 days.

Hence, the average collection period is 17.78 days.

3 0

3 years ago

Genent Industries, Inc. (GII), developed standard costs for direct material and direct labor. In 2017, GII estimated the foll

Alex_Xolod [135]

Answer:

The quantity variance = -900 unfavorable

Explanation:

Direct materials flexibel - budget variance:

standard

0.7 pounds $30 per pound

3,000 x 0.7 = 2,100 standard pounds

actual

2,400 pound $29 per pound

quantity variance:

30(2,100 - 2,400) = -900

6 0

2 years ago

Match the example with the business structure that makes sense for it. To match the items, click the example, and then click the

Kazeer [188]

Answer:

Doug and Vanessa- partnership

Esperanza- sole partnership

Robyn- c corporation

Cuba- s corporation or LLC

Ming- nonprofit corporation

I hope this helps someone!!

7 0

2 years ago

Marcy and Liz developed a new jewelry design. They were fortunate to get the attention of a large online retailer who was willin

snow_tiger [21]

Answer: Exclusive distribution

Explanation:

Exclusive distribution is defined as the agreement in which a parties involved are manufacturer and distributor.It states that the particular distributor cannot sell their service or item to any other party .It binds the agreement that product can be sold to the exclusive distributor.

According to the situation mentioned in the question, designers are asked for exclusive distribution by the retailer.Retailer does not wants that design of jewelry to be sold through any other source or retailer for effective sale.Thus agreement upon this matter is proposed by the retailer.

6 0

3 years ago

As the use of the Internet grows around the world, there must be as easy an exchange of ideas and information as possible betwee

Nata [24]

c. societal culture and norms

Explanation:

The answer to the question can be understood from the following lines in the paragraph.

"Europeans believe it is unethical to invade someone’s privacy. Americans are not nearly as protective of their right to privacy."

The ethical factor illustrated by the example in the given paragraph is - Option c. societal culture and norms

7 0

3 years ago