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QveST [7]
3 years ago
6

Chik’s Chickens has accounts receivable of $6,333. Sales for the year were $9,800. What is its average collection period?

Business
1 answer:
MAXImum [283]3 years ago
6 0

Answer:

The answer is 235 days

Explanation:

Average collection period can also be called Days' outstanding period. And it is the number of days it takes a business to collect its money or receivables from the goods or services sold on credit.

Days' reveivables period or Average collection period = 365 days / reveivables turnover.

Receivables turnover = Sales/ average receivable

$9,800/$6,333

= 1.55

Average collection period=

365 days/1.55

=235 days

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A Six sigma (6s) approach to quality focuses on preventing defects by using customer feedback to reduce variation and waste. Gro
andre [41]

Answer:

False

Explanation:

Six sigma is a tool used by organizations to improve their processes and reduce defects, to improve quality of their products or services.

<u><em>It focuses on reducing variation in the business processes (from manufacturing, sales, delivery, to customer service), to reduce defects and increase the quality of goods and services</em></u><em>.</em> <em>It also generally improves organizational performance and increases profit.</em>

Six sigma does NOT focus on customers feedback to reduce variation and waste.

3 0
3 years ago
At the end of 2021, Worthy Co.’s balance for Accounts Receivable is $11,000, while the company’s total assets equal $1,410,000.
erastovalidia [21]

Answer:Worthy journal $

Date

March 14, 2022

Bad debt Dr 2600

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Narration. Record of receivables written off to income account on account becoming unrecoverable.

Explanation:

The direct method of written off bad debts do not make provision for estimate of receivables that are likely to go bad in which the estimate is recognised as debit to income statement and the corresponding credit entry is used to reduce the receivables, with adjustment been made at the year end for variances.

In the direct method the actual bad debts is debited in the income s statement and credited to the receivables accounts.

6 0
2 years ago
How do i find ending merchandise and cost of goods sold (accounting)
Sergio [31]
Ending merchandise = beginning Merchandise + net purchases- cost of goods sold
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3 0
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The attractiveness test for evaluating whether diversification into a particular industry is likely to build shareholder value i
vodka [1.7K]

Answer:

<u>A) conditions in the target industry allow for profits and return on investment that is equal to or better than that of the company's present business(es).</u>

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Remember, the key word here is about whether diversification into a particular industry would likely increase shareholders value.

Thus, any company wanting to test this out would consider whether conditions in the target industry allow for profits and return on investment that is equal to or better than that of the company's present business(es).

This option is better because improved profits implies better shareholder value.

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