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
slega [8]
3 years ago
13

Trout Lumber Yard has a current accounts receivable balance of $527,164. Credit sales for the year just ended were $6,787,626. a

. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Business
1 answer:
nataly862011 [7]3 years ago
4 0

Answer:

a. 12.88 times

b. 28.35 days

c. 28.35 days

Explanation:

a. Receivables turnover

Receivables turnover = Credit sales ÷ Receivables

= $6,787,626 ÷ $527,164

= 12.88 times

b. Days’ sales in receivables

Days' sales in receivables = 365 days ÷ Receivables turnover

=  365 ÷ 12.88

= 28.35 days

c. On average it would take 28.35 days for credit customers to pay off their balances during the last year.

You might be interested in
In 2019, George and Martha are married and file a joint tax return claiming their two children, ages 10 and 8 as dependents. Ass
Tresset [83]

Answer:

The answer is option (b)$4,000

Explanation:

Solution

Given that:

Now

The income of George and Martha is =$119.650

For year 2019 child tax credit is $2,000 per dependent child subject to a minimum income of $2,500.

The Income limit for Married Jointly Filed is= $400,000.

Thus

They are eligible for $2,000 tax credit per child.

So,

Tax Credit = $2,000 * 2

= $4,000

Note: The AGI limit phaseout begins at $400000 for joint tax filers

8 0
4 years ago
Rosie's flowers company in tulips, ohio, uses an e-commerce software program on its website to allow customers to enter their ow
Anna71 [15]
<span>Rosie's Flowers Company follows a B2C model. This is also known as a business to consumer model. It is when a business has transactions that are directly between the company and the consumers. The consumers are the end users of the products or services.</span>
5 0
4 years ago
Rules that prevent the creation and behavior of are called antitrust laws.
iVinArrow [24]
To prevent monopolies. The law was also created to make competition in the market place.
6 0
3 years ago
Read 2 more answers
The federal government currently levies a 15.3 percent payroll tax (7.65 percent on both the employer and employee) on the wages
Lynna [10]

Answer:

c. fall primarily on employees

Explanation:

As the demand for labor is elasticc (if the business is not profitable will close) while the supply of labor more inelastic (worker had to work to sustain their living standards) the burden of taxation while in fact is assumed to be distributed equally what occurs is that labor is decrease to make the total cost (base wage plus taxes) the amount the employeer are willing to pay for the employee

4 0
3 years ago
Read 2 more answers
The interest rate on a 1-year canadian security is 8%. the current exchange rate is c$ = us $0.78. the 1-year forward rate is c$
leva [86]
Answer: 5.23% 
Explanation:
 Given , interest rate, r =0.08; current exchange rate, c =0.78 and forward
rate, f= 0.76
 Let X represent the return earned by the U.S. investing in Canadian security
 x = 1+((1+r)*f/c)
 x =1+(1.08*[0.76/0.78])
  = 5.23%.

6 0
3 years ago
Other questions:
  • Which of the following strategies is represented by McDonald’s experimenting with their traditional menu, as well as changing th
    11·1 answer
  • Will Andrew's profession as an architect lower his tax liability? A. Yes; an employee's profession determines their tax bracket
    8·1 answer
  • Which of the following statements is true regarding the cumulative translation adjustment? Select one: Changes in the cumulative
    9·1 answer
  • A product manager is eager to develop a new product idea. To gain approval to do so, the product manager orders the research tea
    8·1 answer
  • Suppose the marginal propensity to consume is 0.8 and the government votes to increase taxes by $3 billion. Round to the nearest
    5·1 answer
  • Levi has always wanted to be a lawyer, but the top career cluster for him, according to his personal assessment, is the Arts, A/
    13·1 answer
  • Presented below is information related to Bobby Engram Company.
    14·1 answer
  • Prosperous Production makes two products from a common input. Joint processing costs up to the split-off point total $42,300 a y
    8·1 answer
  • I am so coufued "what i am going to in future, i am very good in art and math and cooking and pe?
    10·2 answers
  • The director of research has asked you to produce a pro forma valuation of a target company using leveraged buyout analysis. A c
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!