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
anyanavicka [17]
3 years ago
15

TCBW last year had an average collection period (days sales outstanding) of 33 days based on accounts receivable of $350,000. Al

l of the firm's sales are made on credit. The firm expects sales this year to be the same as last year. However, the company has begun a new credit policy that should lower the average collection period to 28 days. If the new average collection period is attained, what will the firm's accounts receivable balance equal
Business
1 answer:
sergeinik [125]3 years ago
7 0

Answer:

$296,969.70

Explanation:

Days of sales outstanding = number of days in a period / receivables turnover

Receivables turnover = revenue / average receivables

33 = 365 / receivables turnover

receivables turnover = 11.060606

11.060606 = revenue / $350,000

revenue = $3,871,212.12

with the new policy and same revenue :

28 = 365  / receivables turnover

receivables turnover = 13.035714

13.035714 = $3,871,212.12 / average receivables

= $296,969.70

You might be interested in
3. Bob, a minor, contracted with Pioneer Temporary Staffing Agency, LLC, an employment agency, for the agency to find a job for
svp [43]

The agency's position is that Bob had already signed a contract, and that the contract included a placement fee due to the fact that Bob was able to find this job through the agency. On the other hand, the position that Bob would most likely argue is that he is a minor. As a minor, Bob is allowed to disaffirm his contract. Therefore, Bob is likely to win in this dispute.

3 0
3 years ago
Jacobs Company has inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
vekshin1

Answer:

$210

Explanation:

Date    Description   Units  Price  Total Balance

1-Jun    Opening        15   $12   $180   $180  

5-Jun    Purchase      10      $13     $130          $310  

12-Jun   Purchase      20     $14     $280         $590  

17-Jun   *Sale             -30               -$380        $210  

*Working

Sale

Date          Units   Price     Total

17-Jun       -15 $12   $(180)  

                -10   $13   $(130)  

                -5   $14   $(70)  

Total Sale -30           -$380  

So, the correct answer is $210.

3 0
3 years ago
For each part below, write a short essay (around 8 sentences) to provide arguments for and/or against the claim presented in tha
9966 [12]

Explanation:

a) A free market would allow the laws of demand and supply to flourish; prices of commodities will be set by manufacturers based on demand. However, Government regulations which interfere with the free market is going to result in feeling the pain of monopoly.

b) Indeed, the price mechanism when controlled by the government can result in efficient provision of public goods.

One such example of a public good ls PMS (premium motor spirit) used as petrol in most vehicles. Controlling the price of petrol by the government in most cases helps avoid excessive charges from petrol stations per pump price.

4 0
3 years ago
A solar panel dealer acquires a used panel for $9,000, with terms FOB shipping point. Compute total inventory costs assigned to
zaharov [31]

Answer: $‭9,965‬

Explanation:

FOB Shipping point is a shipping condition that means that the buyer takes over the ownership and control of the inventory as soon as the seller ships it. Everything afterwards is therefore the responsibility of the buyer.

As the following costs come after shipping, they will be included in the acquisition cost;

= Acquisition cost + shipping insurance + transportation-in by train + used panel restoration

= 9,000 + 135 + 280 + 550

= $‭9,965‬

<em>Sales staff salaries, online advertising and lawn care are not related to the inventory. </em>

5 0
3 years ago
Jack is a project manager for a large construction company. Each day his job requires him to prepare detailed reports of the pro
kvasek [131]

Answer:

The Answer is: Responsibilities.

Explanation:

The responsibility to create daily progress reports is part of the way Project Managers work at Jack's company. The word could also be Requirements. For this company, it a Requirement for Project Managers to create these daily reports.

Hope this helps! Have an Awesome Day!! :-)

7 0
3 years ago
Other questions:
  • Economic profits are Multiple Choice always larger than accounting profits. the sum of accounting profits and implicit costs. eq
    11·1 answer
  • What factors affect the time value of money and the cost of borrowing money?
    6·1 answer
  • To get to a job site, you must travel 45 kilometers. How many miles will you travel? Round your answer to the nearest hundredth.
    12·2 answers
  • A trial balance is a(n) (list/balance/chart) ___ of accounts and their balances at a point in time and is used to confirm that t
    10·1 answer
  • I have an idea that might address all of these issues. What if none of us have any of these donuts but instead we break up into
    9·1 answer
  • On July 28, Vent Corp. sold $500,000 of 4%, eight-year subordinated debentures for $450,000. The pur­chasers were issued 2,000 d
    10·1 answer
  • Prepare a cost estimate for the construction of a small, high quality, office building that contains 18,525 square feet of floor
    7·1 answer
  • The first company to introduce a new product has an advantage in acquiring customers and in building brand loyalty.
    6·1 answer
  • Who is responsible for following label instructions for using animal care products, or medications in the food supply continuum?
    5·1 answer
  • James Perkins wants to have a million dollars at retirement, which is 15 years away. He already has $200,000 in an IRA earning 8
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!