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NeTakaya
3 years ago
8

Given the following information, compute accounts receivable turnover. Gross sales $150,000 Accounts receivable, beginning of ye

ar $18,000 Sales 135,000 Accounts receivable, end of year
Business
1 answer:
STatiana [176]3 years ago
5 0

Answer:

6.75

Explanation:

Given that,

Gross sales = $150,000

Accounts receivable, beginning of year = $18,000

Sales = $135,000

Accounts receivable, end of year = $22,000

Average accounts receivables:

= (Beginning AR + Ending AR) ÷ 2

= ($18,000 + $22,000) ÷ 2

= $40,000 ÷ 2

= $20,000

Accounts receivable turnover:

= Sales ÷ Average accounts receivables

= $135,000 ÷ $20,000

= 6.75

Note: Accounts receivable, end of year is missing from the question. It is amounted to $22,000.

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Corporations get cheap, and resell for more to earn a profit, Non profit organizations usually buy and resell for what they paid for or even less, sometimes free, for example some Bible publishers. Their intent is to make something available for everyone <span>to further a particular </span><span>social cause</span>
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3 years ago
Terra Mesa Manufacturing uses a job order cost system to account for its production of specialty patio furniture. On June 30, th
devlian [24]

Answer:

$612,230

Explanation:

Since in the question it is mentioned that the company used the job order cost system for production of specialty patio furniture

Also there is various balances mentioned in the question

Now the total of all open job order cost is equivalent to the work in process amount i.e. $612,230 and the same is to be considered

Hence, the total is $612,230

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3 years ago
Chrysler has a financial unit that is responsible for vehicle leases to consumers. it has a distinct mission, control over its r
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This financial unit is an example of a <u>"strategic business unit".</u>


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The structure of Strategic Business Unit comprise of working units; wherein the units fill in as a self-ruling business.

7 0
3 years ago
Bank Robbery. Victor robbed Safe Bank of a significant sum of cash. Safe Bank offered a reward of $10,000 for anyone who capture
algol13

Answer: E

Explanation: Ted or Ursula didn't get the reward because Ursula was also a suspect. during the course of Ted investigation information gotten from Ursula interrogating helped in apprehending him. Ted was performing his duties as an officer of the law, Ursula was a suspect so couldn't claim the reward too.

7 0
3 years ago
Maxwell Feed &amp; Seed is considering a project that has the following cash flow data. What is the project's IRR? Note that a p
Kay [80]

Answer:

13.31%

Explanation:

some information is missing:

Year        Cash flows

0              −$1,100

1                  $450

2                 $470

3                 $490

the easiest way to calculate the IRR is by using a financial calculator, IRR = 13.31%

but if we don't have one at hand, the IRR is the discount rate at which a project's NPV = 0

1,100 = 450/(1 + r) + 470/(1 + r)² + 490/(1 + r)³

to simplify the formula we must use trial and error:

since we already know the real IRR, I will start with a close number like 10%

1,100 = 450/(1 + 0.1) + 470/(1 + 0.1)² + 490/(1 + 0.1)³

1,100 = 409.09 + 388.43 + 368.14

1,100 ≠ 1,165.66

since the NPV is still positive, we must increase the discount rate. following the example we can use 12%

1,100 = 450/(1 + 0.12) + 470/(1 + 0.12)² + 490/(1 + 0.12)³

1,100 = 401.79 + 374.68 + 348.77

1,100 ≠ 1,125.24

we must increase the discount rate even more to 13%

1,100 = 450/(1 + 0.13) + 470/(1 + 0.13)² + 490/(1 + 0.13)³

1,100 = 398.23 + 368.08 + 339.59

1,100 ≠ 1,105.90

we keep increasing the discount rate to 14%

1,100 = 450/(1 + 0.14) + 470/(1 + 0.14)² + 490/(1 + 0.14)³

1,100 = 394.74 + 361.65 + 330.74

1,100 ≠ 1,087.13

since now the NPV is negative, the discount rate must be between 13-14%

we continue this way until we finally reach 13.31%

4 0
3 years ago
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