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
vladimir2022 [97]
3 years ago
8

Walker Clothing Store has a balance in the Accounts Receivable account of $390k at the beginning of the year and a balance of $4

10k at the end of the year. Net credit sales during the year amounted $2mil. The average collection period of the receivables in terms of days was
Business
1 answer:
lesantik [10]3 years ago
4 0

Answer:  The average collection period of the receivables in terms of days was 73 days.

Explanation:

Given that,

Accounts Receivable at the beginning of the year = $390,000

Accounts Receivable at the end of the year = $410,000

Net credit sales during the year = $2,000,000

Average collection period of the receivables in terms of days:

Average accounts receivables = \frac{410000 + 390000}{2}

= 4,00,000

Net credit sales = \frac{2000000}{400000} = 5

∴ Accounts receivable days = \frac{365}{5}

= 73 days

The average collection period of the receivables in terms of days was 73 days.

You might be interested in
Ake the factors considered by earned value analysis and subtract those considered by project s-curves. the factor(s) you have re
sesenic [268]

Take the factors considered by earned value analysis and subtract those considered by the project S-curves. the factor(s) you have remaining are Performances.

Earned Value Analysis: Through the utilization of earned value analysis (EVA), a project manager is in a position to measure the particular amount of labor completed on a project additionally to easily review cost and schedule information. EVA offers a mechanism that allows the project to be evaluated by the quantity of progress made. This is known as Earned Value Analysis.

Factors considered by earned value analysis and subtract those considered by the project S-curves. the factor(s) you have remaining are Performances.

To learn more about Earned Value Analysis, visit the following link:

brainly.com/question/13915233

#SPJ4

6 0
2 years ago
Appellate courts do not have to hear all of the cases they are presented.<br> True<br> False
frutty [35]
It's false! They have to hear all of them
5 0
3 years ago
It's okay to lower a vehicle onto a high-reach support stand.<br><br> True or False
liubo4ka [24]

Answer:

False

Explanation:

Use high reach vehicle support stands to help stabilize the vehicle for jobs that involve considerable displacement of weight or that shake the vehicle. Never lower vehicles onto vehicle support stands. If this is done, the stands may push the vehicle off the lift.

5 0
2 years ago
Mercury Corporation issued 7,000 shares of no-par common stock for $15 per share. Mercury also issued 2,800 shares of $70 par, 6
inessss [21]

Answer:

Issue of  7,000 shares of no-par common stock for $15 per share

Financing Activity (FA).

Issue of 2,800 shares of $70 par, 6 percent noncumulative preferred stock at $80 per share

Financing Activity (FA)

Explanation:

Issue of  7,000 shares of no-par common stock for $15 per share

This represents capital funding and is included in the Cash Flow Statement as Cash Flow from Financing Activity.

Issue of 2,800 shares of $70 par, 6 percent noncumulative preferred stock at $80 per share

This transaction also represents capital funding and is included in the Cash Flow Statement as Cash Flow from Financing Activity.

7 0
3 years ago
Read 2 more answers
Explain what lower of cost or market means in regards to reporting merchandise inventory on the balance sheet.
Degger [83]

Answer and Explanation:

Inventory is an asset and is posted on the asset side of the balance sheet. As per accounting standards regarding inventory valuation, it can be either valued at historical cost or at market price, whichever is lower.

Historical cost is the cost at which asset was acquired. Market price is the price which would be received if the asset is replaced as on the date on which balance sheet is prepared. Inventory is valued at lower of the above mentioned costs.

4 0
3 years ago
Other questions:
  • On january 31, jean consulting company receives a bill for that month’s utilities in the amount of $500. jean sets it aside beca
    5·1 answer
  • Many customers shop at All Natural because of the employees’ extensive product knowledge. In a SWOT analysis, the employees’ hig
    14·1 answer
  • The Deposit must be delivered by Buyer within ____________ of notice of acceptance of the offer.
    7·1 answer
  • A security has an expected rate of return of 0.10 and a beta of 1.1. The market expected rate of return is 0.08 and the risk-fre
    11·1 answer
  • Home value inc., max cart inc., and nice necessities inc. are three consumer-product retailing companies. their products consist
    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
  • Under a system of floating exchange rates, changes in the value of the U.S. dollar relative to other currencies are the result o
    13·1 answer
  • The following table contains financial information for Trumpeter Inc. before closing entries:
    13·1 answer
  • Nicholas omgnicholas omgnicholas omgnicholas omg
    11·2 answers
  • How many patents have been issued in the united states?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!