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DerKrebs [107]
3 years ago
15

Below is information from the financial statements of Greenwich Company: Accounts receivable (net) 2016: $2,400 Accounts receiva

ble (net) 2015: $2,200 Net sales 2016: $25,875 What is the average collection period
Business
1 answer:
ra1l [238]3 years ago
7 0

Answer:

32.44 days

Explanation:

The computation of the average collection period is shown below:

But before that we have to determine the account receivable turnover ratio

So, the account receivable turnover ratio is

= (net sales) ÷ (average of account receivables)

= $25,875 ÷ ($2,400 + $2,200) ÷ 2

= $25,875 ÷ $2,300

= 11.25 times

Now the average collection period is

= Total no of days in a year ÷ account receivable turnover ratio

= 365 ÷ 11.25

= 32.44 days

We assume that the no of days that should be considered is 365 days

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Answer:

Ending inventory = 14,000

Explanation:

First, we must clear the COSG from the Pretax Income calculation:

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Ending inventory = 11,000 + 90,000 - 87,000

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3 0
3 years ago
The revenue, in millionsmillions of dollars, for a company in year tt is given by the function: r(t)=15e0.19t,0≤t≤15 r(t)=15e0.1
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The net profit of the company in this case is given by the subtraction of the income minus the costs.
 We have then:
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5 0
3 years ago
​while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had h
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All of the following are organization-directed benefits associated with offering unconditional guarantees except: a. the guarant
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Answer:

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