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S_A_V [24]
3 years ago
6

Graber Company had $130,000 in sales on account last year. The beginning accounts receivable balance was $18,000 and the ending

accounts receivable balance was $12,000. The company's average collection period was closest to: Select one: a. 33.69 days b. 42.12 days c. 84.23 days d. 50.54 days
Business
1 answer:
larisa [96]3 years ago
4 0

Answer:

b. 42.12 days

Explanation:

Calculation for Graber company's average collection period will be:

Using this formula

Average collection period =Sales/[(Beginning accounts receivable +Ending accounts receivable)/2]

Let plug in the formula

130,000/[(18,000 + 12,000)/2]

=130,000/(30,000/2)

130,000/15,000

= 8.66days

Hence,

365/8.666666

=42.12 days

Therefore Graber company's average collection period will be 42.12 days

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3 years ago
An employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day. True or false?.
padilas [110]

It is true that an employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day.

A time ticket is used to track the hours for which an employee will be paid in the upcoming payroll. Employees' time tickets are reviewed and approved by a supervisor at the closing of each pay period. After which the payroll team use them to calculate the hours worked by an employee. This serves as a basis for calculating gross pay.

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7 0
1 year ago
Cute Camel Woodcraft Company is considering a one-year project that requires an initial investment of $500,000; however, in rais
vfiekz [6]

Answer:

The correct answer is "32.076%".

Explanation:

Given:

Initial investment,

= $500,000

Cash inflows,

= $500,000

The floatation cost will be:

= 500,000\times 6 \ percent

= 30,000 ($)

The total cost will be:

= Initial \ investment+Floatation \ cost

= 500000+30000

= 530000

hence,

The rate of return will be:

= \frac{Inflows}{Cost} -1

= \frac{700000}{530000} -1

= \frac{700000-530000}{530000}

= 0.32076

= 32.076 (%)

8 0
2 years ago
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