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Cloud [144]
3 years ago
9

The financial statements of the Sunland Company reports net sales of $828000 and accounts receivable of $79200 and $43200 at the

beginning of the year and end of year, respectively. What is the average collection period for accounts receivable in days
Business
1 answer:
Virty [35]3 years ago
5 0

Answer:

See below

Explanation:

Given the above information, the average collection period in days is computed as

= Average balance of account receivables / Net credit sales × 365

Average balance of account receivables = ($79,200 + $43,200) / 2

= $61,200

Net credit sales = $828,000

= $61,200 / $828,000 × 365

= 26.97 days

= 27 days

Hence the average collection period in days is 27 days

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Silver Corporation incurred costs of $600,000 for managing the wholesale division during the year. The customer details of the c
elena-s [515]

Answer: $200,000

Explanation:

The cost will be allocated to customer Y, if a cause-effect relationship cannot be established with any cost driver will be calculated thus:

Total sales = $600,000 + $400,000 + $200,000 = $1,200,000

The percentage of Y on total sales will be:

= $400,000/$1,200,000 × 100

= 1/3 × 100

= 33.33%

Therefore, the cost that's allocated to Y will then be:

= $600,000 × 33.33%

= $600,000 × 0.3333

= $200,000

Therefore, the correct answer is $200,000

8 0
2 years ago
Velocity, a consulting firm, enters into a contract to help Burger Boy, a fast-food restaurant, design a marketing strategy to c
romanna [79]

Answer:

the journal entries:

to record the contract

Dr Accounts receivable 96,000

Dr Bonus receivable 2,400

    Cr Service revenue 98,400

to record adjustment of bonus receivable at month 5:

Dr Service revenue 6,400

    Cr Bonus receivable 6,400

to record service revenue for the fifth month:

Dr Accounts receivable 96,000

Dr Bonus receivable 800

    Cr Service revenue 96,800

to record getting the bonus:

Dr Cash 32,000

    Cr Bonus receivable 6,400

    Cr Service revenue 25,600

Explanation:

total value of the contract:

[($96,000 x 8) + $32,000] x 0.8 = $640,000

[($96,000 x 8) - $32,000] x 0.2 = $147,200

total expected value = $787,200

expected value of the bonus = $787,200 - ($96,000 x 8) = $19,200, monthly bonus receivable $19,200 / 8 = $2,400

the adjustments required during the fifth month:

[($96,000 x 8) + $32,000] x 0.6 = $480,000

[($96,000 x 8) - $32,000] x 0.4 = $294,400

total expected value = $774,400

expected value of the bonus = $774,400 - ($96,000 x 8) = $6,400, monthly bonus receivable $6,400 / 8 = $800

5 0
3 years ago
Which sector has lost more jobs due to technological changes?
k0ka [10]

The sector that lost more jobs due to technological change is the Banking sector.

Technological improvement entails the advancement of technology in carrying out business activities supposed to be performed by employees.

The increase in use of software technology means that industries and jobs that relies on employees effort will now rely on computers.

Therefore, the sector which lost more job due to the technological changes is the Banking sector because more software technology are now used, thus resulting to lay-off of bank workers.

Learn more about this here

<em>brainly.com/question/3578036</em>

4 0
2 years ago
A manager's operation had sales this period of $89,775. last period sales were $85,500. what was the manager's percentage sales
alexandr402 [8]

A manager's operation had sales this period of $89,775. last period sales were $85,500. So the manager's percentage sales increase for this period when compared to last period was 5% .

The percentage increase is the measure of the percentage change. The percentage increase is defined as the ratio of increased value to the original value and then multiplied by 100. Here the increased value can be calculated by taking the difference between the final value and the initial value. The formula to calculate increase is given by -

Percentage Increase = [(Final value – Original value) × 100] / Original value %

In this case,  original value is $85500 and the final value is $89775, then the percentage increase is:

Percentage Increase = [(89775-85500) ×100]/85500

= 427500/85500

= 5%

So, the percentage increase  will be 5% .

To learn more about percentage increase here

brainly.com/question/23040788

#SPJ4

5 0
2 years ago
When the relationship between government and interest groups becomes entangled and tight with some groups having formal governme
Talja [164]

Answer: Neo-Corporatism.

Explanation:

Neo- Corporatism emerged in resent times as a successor to State Corporatism. State Corporatism was a system whereby interest and labor groups were supposed to work together for the good of society. These were most prevalent in authoritarian regimes like Nazi Germany and post communist Lithuania.

Recently though, in some Democratic countries, interest groups have chosen to work with the Government to improve the lives of the people and enable the Government reach out deeper. These Peak Associations as they are often called help the Government compete economically and are very prevalent in countries and regions such as, Germany, Switzerland, Austria and Scandinavia.

6 0
3 years ago
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