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
Olin [163]
2 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]2 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

You might be interested in
Which of the following statements about business processes is not true?Question 3 options:A) Business processes are a collection
natali 33 [55]

Answer:

E.

Explanation:

The information system is very important in business processes because help managers in efficient decision making to achieve the organizational goals.

An organization will be able to survive and thrive in a highly competitive enviroment on the strength of a well desing information system.

Helps in making right decisions at the right time, or just in time. A good information system may be utilized by managers in unusual situations.

It is viewed as a process, it can be integrated to formulate a strategy of action or operation.

8 0
3 years ago
Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4.9 pound
Stella [2.4K]

Answer:

Childress Company

Orders for K1 should be filled first.

Orders for G9 should be filled second.

Orders for S5 should be filled third.

Explanation:

a) Data and Calculations:

                                                               K1            S5           G9

Direct materials per unit (pounds)       4.9           2.4           5.4

Materials available for production = 58,400

Selling price                                      $ 167.40  $ 99.28  $ 210.02

Variable costs                                       89.00     76.00      149.00

Contribution margin per unit           $  78.40  $ 23.28   $   61.02

Contribution margin per pound         $16          $9.70       $11.30

Orders for K1 should be filled first

Orders for G9 should be filled second

Orders for S5 should be filled third.

b) This order filling sequence will maximize the contribution margin per pound, ensuring the highest efficient use of the limited materials available for production.

3 0
2 years ago
Calin Corporation has total current assets of $617,000, total current liabilities of $233,000, total stockholders’ equity of $1,
Otrada [13]

Answer:

Working capital = Current assets - Current liabilities

                          = $617,000 - $233,000

                          = $384,000

Explanation:

Working capital refers to current assets minus current liabilities. It is the capital available for day to day running of a business.

7 0
3 years ago
Read 2 more answers
Which of the following statements is true regarding variable costing?Multiple Choice
pentagon [3]

Answer:

a

Explanation:

8 0
2 years ago
Read 2 more answers
Can somebody please give me 10 examples of jobs that have to do with finance?HELP ASAP
tamaranim1 [39]

Finance Jobs:

Financial planner, Financial Analyst, Investor Relations Associate, Budget Analyst, Actuary, Accountant, Credit Analyst, Attorney, Commercial Real Estate Agent, Business Teacher.


Marketing Jobs:

Marketing Specialist, Social Media Manager, Email Marketing Manager, Product Manager, Brand Manager, Media Buyer, eCommerce Manager, Web Producer, Public Relations Managers

3 0
3 years ago
Other questions:
  • ________ can track customer satisfaction directly, measure repurchase intention and also gauge a consumer's willingness to recom
    6·1 answer
  • During March, the production department of a process operations system completed and transferred to finished goods 25,000 units
    9·1 answer
  • You arrive at the local convenience store to find out that a robbery has just occurred. The store clerk appears to have been sta
    9·2 answers
  • Why is operations management relevant to managers in other organization functions? Base your discussion on your experience of op
    14·1 answer
  • Supply chain managers outsource logistics to meet three​ goals: A. drive down inventory​ investment, lower delivery​ costs, and
    6·1 answer
  • Say the marginal tax rate is 20 percent and that government expenditures do not also that the economy is at potential output and
    5·1 answer
  • How does paying the minimum on a credit card hurt?
    5·1 answer
  • 6%/12%Your grandmother is giving you $100 a month for four years while you attend college to earn your bachelor's degree. At a 6
    6·1 answer
  • The normal distribution is an appropriate model​ of: A. system reliability where components are connected in parallel. B. the fu
    11·1 answer
  • At the end of the year, actual Logistics Department variable costs totaled $296,700 and fixed costs totaled $437,950. The Atlant
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!