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bonufazy [111]
2 years ago
14

The 2013 income statements of Leggett & Platt, Inc. reports net sales of $3,746.0 million. The balance sheet reports account

s receivable, gross of $482.6 million at December 31, 2013 and $465.4 million at December 31, 2012. The average collection period in 2013 was Select one: a. 46 days b. 10 days c. 47 days d. 8 days e. None of the above
Business
2 answers:
Mamont248 [21]2 years ago
7 0

Answer:

The answer is a. 46 days.

Explanation:

The average collection period is the time it takes on average to receive the cash from the credit sales. It is the time period for which an average accounts receivable pays the company. The formula for average collection period is,

Average collection period = (Average accounts receivable / Net sales) *365

Where 365 is taken as the number of days in a year.

The average of accounts receivables can be calculated by adding the opening and closing accounts receivables and dividing them by 2.

Average accounts receivables = (465.4 + 482.6) / 2 = 474 million

Average collection period = (474 / 3746) * 365 = 46.185 days rounded off to 46 days.

pickupchik [31]2 years ago
3 0

Answer:

The correct option is A, 46 days

Explanation:

Average collection period=365 days/average receivables turnover ratio

Accounts Receivable Turnover Ratio = Net Credit Sales / Average Accounts

Receivable

Net credit sales is $3,746.0 million

Average receivables=$482.6 million+$465.4 million=$474  million

Accounts receivables turnover ratio=$3,746.0 million/$474  million

                                                            =7.90

Average collection period=365/7.90

                                           =46.20 days

When is rounded to a whole number it becomes 46 days,no doubt option A is the correct option .

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Define bank run in your own words.​
lina2011 [118]

Answer:

A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.

5 0
2 years ago
Normative economic analysis involves: Group of answer choices value judgments. purely descriptive statements. testable hypothese
nlexa [21]

The normative economic analysis involves <u>value judgments and opinions.</u>

<h3><u>By normative economic analysis, what do you mean?</u></h3>

Normative economics is an approach to the study of economics that expresses normative or ideologically prescriptive judgments on economic development, investment initiatives, claims, and scenarios.

Normative economics is heavily concerned with value judgments and declarations of "what ought to be" rather than facts based on cause-and-effect statements, in contrast to positive economics, which is dependent on objective data analysis. It reflects ideological opinions regarding potential outcomes for economic activity in the event that public policy changes. It is impossible to verify or validate normative economic claims.

Learn more about normative economics with the help of the given link:

brainly.com/question/17352984

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6 0
1 year ago
Charleston Corporation operates a branch operation in a foreign country. Although this branch operates in euros, the U.S. dollar
dimulka [17.4K]

Answer: Remeasurement loss of $‭21,970

Explanation:

The figures will have to be converted from Euros to US$ for the calculation.

The relevant exchange rate will be the rate on the date of the transaction.

                                                              Amount      Exchange rate    $Amount

Opening cash                                     528,000           1.14                   ‭601,920‬

Increase in Cash assets:

Sale of inventory                                 160,000             1.20                192,000

                                                            688,000                                   793,920‬

Decrease in cash assets:

Acquisition of warehouse                 300,000             1.14                (342,000)

Purchase of inventory                       100,000              1.18                (118,000)

Transfer to parent                              10,000                1.18                 (11,800)

Ending net cash assets                     278,000 ‭                                  322,120‬

Remeasurement gain(loss) at 31 December = Ending net cash assets at current rate - Ending net cash assets

= (278,000 * 1.08) - 322,120

= ‭300,240‬ - 322,120

= ($21,970)

<em>Options are not for this question. </em>

7 0
3 years ago
Your employees have an average salary of $37,000 per year. Their benefits, health insurance and a retirement plan, are worth $22
const2013 [10]

Answer:

i think that answer 15%percentage

4 0
2 years ago
Many firms engage in __________ planning to prepare the organization, its managers, and its employees to cope with sudden catast
Vaselesa [24]

Answer:

Crisis Panning

Explanation:

The crisis planning involves the management of the company risk associated with catastrophic events which will completely destroy the firm and their will no essence of the company to start it again. So to insure businesses from such risks heading, the company plans about it to tackle such risks and this planning is known as crisis planning.

6 0
2 years ago
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