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Olin [163]
3 years ago
9

Blaney Clothing Store had a balance in the Accounts Receivable account of $437,500 at the beginning of the year and a balance of

$500,000 at the end of the year. Net credit sales during the year amounted to $3,000,000. The average collection period of the receivables in terms of days was?
Business
1 answer:
Alexandra [31]3 years ago
7 0

Answer:

Average Collection Period = 57.03

Explanation:

given data

Accounts Receivable beginning =  $437,500

Accounts Receivable ending =   $500,000

Net credit sales = $3,000,000

to find out

average collection period

solution

we get here first average account receivable that is express as

average account receivable = \frac{437,500+500,000}{2}

average account receivable = $468750

and we consider No of Days in a year is = 365

so Average Collection Period will be

Average Collection Period = \frac{468750}{3000000} × 365

Average Collection Period = 57.03

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Answer:

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Explanation:

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Bonita Corporation had net income of $1550000 and paid dividends to common stockholders of $400000 in 2017. The weighted average
artcher [175]

Answer:

16 times

Explanation:

Calculation to determine what Bonita Corporation's price-earnings ratio is

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Price-earnings ratio=16 times

Therefore Bonita Corporation's price-earnings ratio is 16 times

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3 years ago
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GalinKa [24]

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What is net operating income?

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After all, costs have been deducted, operating profit displays a company's earnings, excluding the cost of debt, taxes, and some one-time expenses. Contrarily, net income is the profit that is still left over after all expenses made during the time have been deducted from sales revenue.

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A.IM presents the possibility of privileged information being discussed in public forums.

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soldier1979 [14.2K]

"Manhattan Developers, Inc., pays Northeast Trust Company to release its claim to a strip..." this is a quitclaim deed. This is further explained below.

<h3>What is a deed?</h3>

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In conclusion, When a company pays another company to relinquish a claim to a strip mine, it is executing a quitclaim deed.

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