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
Ilia_Sergeevich [38]
3 years ago
14

Mr. Husker’s Tuxedos Corp. ended the year 2018 with an average collection period of 37 days. The firm’s credit sales for 2018 we

re $56.6 million. What is the year-end 2018 balance in accounts receivable for Mr. Husker’s Tuxedos?
Business
1 answer:
Nimfa-mama [501]3 years ago
8 0

Answer: Accounts receivables = 5737534.25

Explanation:

Average collection period measures the average number of days between the day inventory is sold on credit and the day customer settles the credit account.

average collection period = 37 days

credit sales = 56600000

Average collection period = (Accounts receivable/credit sales) x 365

37 = (Accounts receivables/56600000) x 365

365Accounts receivables =  56600000 x 37

Accounts receivables = 2094200000/365

Accounts receivables = 5737534.2466

Accounts receivables = 5737534.25

You might be interested in
The existence of a ________ means that the interest rate on a two-year bond will exceed the average interest rate on two success
krok68 [10]
The answer is risk-premium
7 0
2 years ago
Equipment costing $17,500 with an estimated salvage value of $1,180 and an estimated life of 4 years was purchased on October 31
svp [43]

Answer:

the depreciation expense recorded is $680

Explanation:

The computation of the depreciation expense under the straight-line method is shown below:

= (Purchase cost - residual value) ÷ (estimated life)

= ($17,500 - $1,180) ÷ ( 4 years)

= $4,080

Now the 2 months depreciation is i.e. from November to December

= $4,080 × 2 months ÷ 12 months

= $680

Hence, the depreciation expense recorded is $680

8 0
3 years ago
Doug and Kayla formed a partnership with capital contributions of $220,000 and $320,000, respectively. Their partnership agreeme
Mandarinka [93]

Answer:

The correct answer is $79,000 and $37,000.

Explanation:

According to the scenario, the given data are as follows:

Net income = $116,000

Doug's Salary = $52,000

Receive an interest = 10%

So, the amount to be shared equally = [$116,000 - $52,000 - ( 10% × $220,000) - ( 10% × $320,000)] ÷ 2

= $5,000

So, Doug share = $52,000 + ( 10% × $220,000) + $5,000

= $79,000

Kayla share =  (10% × $320,000) + $5,000 = $37,000

5 0
3 years ago
Marginal utility is the total satisfaction received from consuming a given number of units of a product. satisfaction achieved w
motikmotik

extra satisfaction received from consuming one more unit of a product.

5 0
3 years ago
"At that time, the market price of ABC is $44. If the market rises to $58 and the call is exercised (the put expires out the mon
steposvetlana [31]

Answer:

600 loss

Explanation:

The computation of the gain or loss is shown below:

Since on Jan, there is a put option of 45 at $3 and the market rises to $58

So it losses by 13 points i.e

= 45 - 58

= 13

Now the total premium points collected is of 7 i.e

= 4 + 3

= 7

So, the remaining points left is

= 13 - 7

= 6

So for 6 points, the net loss is $600

7 0
3 years ago
Other questions:
  • Taxes at the 1.___ level are known as municipal taxes. The two main components of this tax are 2.____ tax and sales tax.
    10·2 answers
  • Canova Corporation adopted the dollar-value LIFO retail method on January 1, 2018. On that date, the cost of the inventory on ha
    5·1 answer
  • Which statement describes the role of the Federal Reserve System? A. It prints all the paper money in circulation in the United
    12·2 answers
  • Market failure associated with the free-rider problem is a result of Group of answer choices a problem associated with pollution
    10·1 answer
  • Bob Denton of Denton Pest Control buys equipment from Allied Tools because Allied hires him to spray its warehouse for insects p
    12·1 answer
  • Consider two scenarios for a nation's economic growth. Scenario A has real GDP growing at an average annual rate of 2%; scenario
    6·1 answer
  • Indicators of a possible asset or income concealment include all of the following except:
    10·1 answer
  • At the trough of the business cycle, cyclical unemployment is _____ and the actual unemployment rate _____ the natural rate of u
    12·1 answer
  • Future changes in automobile technology are likely to include
    8·1 answer
  • A broker has a listing agreement wherein she is paid an agreed-upon fee or commission regardless of who sells the property. What
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!