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ikadub [295]
3 years ago
10

Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billio

n at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio enter the accounts receivable turnover ratio in times rounded to 1 decimal place times
Business
1 answer:
umka21 [38]3 years ago
6 0

Answer:

7.16 times

Explanation:

Average accounts receivable:

= (Beginning accounts receivable + Ending accounts receivable) ÷ 2

= ($3.2 billion + $3.25 billion) ÷ 2

= $3.225 billion

Accounts Receivable turnover ratio:

= Net annual credit sale ÷ Average accounts receivable

= $23.1 billion ÷ $3.225 billion

= 7.16 times

Therefore, the Accounts receivable turnover ratio is 7.16 times.

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DeWitt Company sells a kitchen set for $345. To promote July 4, DeWitt ran the following advertisement:
Triss [41]

Answer:

$296.7

Explanation:

Since the first four hours the kitchen set will have a discount of 12 %, plus another 2 % for the last of each hour.

Ingrid bought it at the 1 hour and 25 min, that means that she could get 12 % for the first hour plus another 2 % because of th end of the first hour.

So it will be:

14 % (345) = $48.3

To the total price: $345 - $48.3 = $ 296.7

Hope this info was useful

7 0
2 years ago
Problem 10-4 Partnership Formation (LO 10.2) Elaine's original basis in the Hornbeam Partnership was $40,000. Her share of the t
dexar [7]

Answer:

$31,000

Explanation:

Calculation to determine Elaine's current basis in her partnership interest

Using this formula

Elaine's current basis= Value of original basis + (interest purchased - Cash received) + Tax exempt interest

Let plug in the formula

Elaine's current basis= $40,000 + ($70,000 - $80,000) + $1,000

Elaine's current basis= $40,000 - $10,000 + $1,000

Elaine's current basis= $31,000

Therefore Elaine's current basis in her partnership interest is $31,000

5 0
3 years ago
DUE TODAY PLEASE HELP T^T
jonny [76]

Answer:

i think its true

Explanation:

5 0
3 years ago
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Do you know why sustainable business is important?
guajiro [1.7K]

Answer:

In short, sustainability in business refers to the effect that companies have on the environment or society. A sustainable business strategy aims to positively impact one or both of those areas, thereby helping address some of the world's most pressing problems, such as climate change and income inequality.

Explanation:

yeah

8 0
3 years ago
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podryga [215]

Answer: Data mining

Explanation: Patterns and relationships as indicated are discovered through a technique known as data mining, which is defined as the use of a variety of statistical analysis tools in marketing research to uncover previously unknown patterns in data or relationships among variables. It is also given as a technique for searching large scale databases for patterns; used mainly to find previously unknown correlations between variables that may be commercially useful.

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3 years ago
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