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
tatyana61 [14]
2 years ago
14

The 2016 income statements of Leggett & Platt, Inc. report net sales of $3,749.9 million. The balance sheet reports accounts

receivable, net of $486.6 million at December 31, 2016 and $520.2 million at December 31, 2015. The days sales outstanding in 2016 was:
A. 49 days
B. 10 days
C. 44 days
D. 8 days
E. None of the above
Business
1 answer:
sergejj [24]2 years ago
5 0

Answer:

option (A) 49 days

Explanation:

Data provided:

Net sales = $3,749.9 million

Accounts receivable on December 31, 2016 = $486.6 million

Accounts receivable on December 31, 2015 = $520.2 million

Now,

The duration from December 31, 2015 to December 31, 2016 = 365 days

Days sales outstanding = \frac{\textup{Average accounts receivable}}{\textup{Credit sales}}\times Number of days

or

Days sales outstanding = \frac{\frac{\$486.6 + \$520.2}{2}\textup{million}}{\$\textup{3,749.9 million}}\times365

or

Days sales outstanding = \frac{\$\textup{503.4 million}}{\$\textup{3,749.9 million}}\times365

or

Days sales outstanding = 48.99 ≈ 49 days

Hence,

The correct answer is option (A) 49 days

You might be interested in
Workforce ________ exists when at one end of the labor market, there has been strong demand for low-skilled, low-paying jobs in
Levart [38]

Answer:

The correct answer is workforce Polarization.

Explanation:

Polarization means that a gap has developed in the job market, with most employment opportunities at the lowest and highest levels and few jobs for those with midlevel skills and education. At one end, there has been strong demand for low-skilled, low-paying jobs in industries like food service and retail. On the other end, some research shows that in certain fields there has been a steadily increasing demand for highly skilled and educated professionals, technologists, and managers. These high-skilled positions also tend to be highly paid.

7 0
3 years ago
Which of the following is an example of a strategic action?
Pavlova-9 [17]

Answer:

Option D. Entry into the European market by Home Depot.

Explanation:

The reason is that the strategic actions are long term actions and are market based moves which bounds the organizational resources for implementation and are also very difficult to reverse.

So here use of coupons, fare increases and two for one offers are easily reversible, requires fewer organizations resources for implementation and short term decisions which means these are tactical actions.

Whereas the decision to enter european market by Home Depot is long term decision, bounds organization resources for implementation and is very difficult to implement or reverse the actions once taken, so it is strategical action of Home Depot.

8 0
2 years ago
Cosmeticon, a U.S.-based firm, has recently started exporting cosmetics to India. Cosmeticon has introduced a new range of miner
NikAS [45]

Answer:

Price skimming.

Explanation:

Price skimming is a pricing strategy in which an organization gradually lowers it's selling price after initially charging it's customers a high price in order to attract more price-sensitive customers. It is mostly used by a first-mover who faces lesser competition in business.

In this scenario, Cosmeticon had no competitors in that segment of the Indian cosmetics market, so it set a very high price for its products in order to reach the premium, price-insensitive segment of the market.

6 0
3 years ago
Read 2 more answers
Which phrase best describes the purpose of a slide master? Check all that apply.
Ksju [112]

Answer: to establish the layout of all slides, or a group of slides, in a presentation.

to determine the theme of all slides, or a group of slides, in a presentation.

to allow users to apply changes in layout or theme to an entire presentation.

Explanation:

It should be noted that the Slide Master refers to the top slide which controls the information regarding the background, fonts, theme, layout, and color of all the slides in Microsoft PowerPoint.

The phrase best describes the purpose of a slide master include:

• to establish the layout of all slides, or a group of slides, in a presentation.

• to determine the theme of all slides, or a group of slides, in a presentation.

• to allow users to apply changes in layout or theme to an entire presentation.

Therefore, the correct options are C, D and F.

8 0
2 years ago
Suppose investors can earn a return of 1.9% per 6 months on a Treasury note with 6 months remaining until maturity. The face val
DanielleElmas [232]

Answer:

$9,813.54

Explanation:

The face value of the T-bill is $10,000

Return of 1.9%

P= $10,000/1.019

= $9,813.54

Therefore the price you would expect a 6-month maturity Treasury bill to sell for is

$9,813.54 because The face value of the T-bill is $10,000 and the investors can earn a return of 1.9% per 6 months on a Treasury note with 6 months remaining until maturity leading to increase in the return of 1.9% because 1.9% will give us 0.019 plus increase of 1 which will give us 1.019.

8 0
2 years ago
Other questions:
  • Industries are defined by _____.
    11·2 answers
  • Compare items that are exempt and nonexempt from Chapter 7 fillings. ( does A B C or D go with 1 or 2)(each letter must go with
    8·2 answers
  • The parents of a young child decide to make annual deposits into a college savings account. The first deposit will be made on he
    15·1 answer
  • The style of large pieces will determine the style of the room. True or false?
    12·1 answer
  • There is often only one major league baseball team in a city. What is the consequence of this in terms of ticket prices? a. Tick
    6·1 answer
  • The main job of an editor is to do
    15·1 answer
  • Which form of retailing is Best Buy now using in airports to distribute its mobile phone and computer accessories, digital camer
    9·1 answer
  • John has finally gotten to the point where he can put away some money and start a rainy day fund. He wants to have access to his
    7·1 answer
  • What is happening to the economy in the United States? Why?
    9·1 answer
  • What everyday example can you find that is similar to the initial process of obtaining stock borrow when trying to short sell an
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!