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
DerKrebs [107]
2 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]2 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

You might be interested in
I now have $23,000 in the bank earning interest of .50% per month. I need $33,000 to make a down payment on a house. I can save
Elena-2011 [213]

Answer:

41.92 months

Explanation:

In this question, we use the NPER formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $23,000

Future value = $33,000

Rate of interest = 0.50%

PMT = $100

The formula is shown below:

= NPER(Rate;-PMT;-PV;FV;type)

The present value and the PMT comes in negative

So, after solving this, the answer would be 41.92 months

8 0
2 years ago
1. This problem asks about opportunity costs in different situations. a. You get a jump on your holiday shopping in July and buy
AleksandrR [38]

Answer:

the $400 you would have earned if you sold the toy

Explanation:

Opportunity cost or implicit is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If you didn't give the toy to the child, you could have sold it for $400. Selling the toy is the next option and thus, it is the opportunity cost

7 0
3 years ago
By which distribution system is more than 90 percent of u.s. coal shipped
Ludmilka [50]
The answer to this question is Railroads
This data was taken from statistics in 2009. As of 2009<span>, approximately 90% of non-</span>bulk cargo<span> worldwide is moved by containers stacked on transport ship due to the development of containers materials that create stronger space at relatively low price.</span>
6 0
3 years ago
Which of the following is a internal event?
omeli [17]
I believe its "A", an indoor company
6 0
3 years ago
Read 2 more answers
Mitchell has worked for a very large company for three years. During lunch one day he stood at the elevator and read the buildin
s344n2d4d5 [400]

Answer:

It is departmentalized in a functional way

Explanation:

Functional departmentalization is the type of organizational structure based on common job functions. In Mitchell's case all similar jobs, like legal or marketing, are grouped in one place or on the same floor. This type of organization provides space for further employee's specialization by putting staff in places where their skills can further develop.

8 0
3 years ago
Other questions:
  • Use the​ price-demand equation p plus 0.005 x equals 46​, 0 less than or equals p less than or equals 46. Find the elasticity of
    9·1 answer
  • All parties in the chain of​ _____ of a defective product are​ _____ liable for the injuries caused by that product.
    8·1 answer
  • What is the term that is concerned with a population's size, age structure, geographic distribution, ethnic mix, and income dist
    5·2 answers
  • Last month, you lent a work colleague $5000 to cover some overdue bills. He agreed to pay you in 1 month with interest at 2% for
    6·1 answer
  • Stark Company's most recent balance sheet reported total assets of $1.82 million, total liabilities of $0.84 million, and total
    5·1 answer
  • Sarah's optimism is both a contributor to and a product of her successful career accomplishments. This best illustrates self-ser
    15·1 answer
  • Miller Company expected to incur $ 15,000 in manufacturing overhead costs and use 6,000 machine hours for the year. Actual manuf
    7·1 answer
  • Most foodborne illness outbreaks are caused by
    5·1 answer
  • A shipping company in the Midwest has had a rash of on-the-job injuries in recent months and is losing customers because deliver
    7·2 answers
  • Is it essential that business market managers recognize which prospective customer firm is having a buying orientation.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!