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3 years ago

Assuming Year 2 net credit sales totaled $122,000, what was the company's average days to collect receivables

Business

1 answer:

Montano1993 [528]3 years ago

4 0

Answer:

44.88 days

Explanation:

Note: The full question is attached

Average amount of accounts receivables = ($16,000+$14,000)/2

Average amount of accounts receivables = $15,000

Average days to collect receivables = Days * AR / Credit sales

= 365 * $15,000 / $122,000

= 44.87704918032787 days

= 44.88 days

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Incomplete question. I inferred you want to know if it is true or false.

Answer:

True

Explanation:

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3 years ago

Tons Beauty LLC uses the double-declining balance method for depreciation on its computers. Which item is not needed to compute

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Answer:

Residual or salvage value isn't needed in the calculation of deprecation expense using the double declining method.

Explanation:

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3 years ago

When money serves as a common denominator for measuring the exchange rates among goods and services, it performs as a

Aleks [24]

Answer:

Standard of value.

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3 years ago

Blake and Matthew are partners who agree that Blake will receive a $103,000 salary allowance and that any remaining income or lo

Sedaia [141]

Answer:

total net income = $109,000

Explanation:

given data

Blake receive = $103,000

Matthew capital account is credited = $3,000

solution

we know that both partner get equal part in remaining loss or income

so here Blake get $3,000 as share of the net income

so that here net income for the period, that will Blake's salary allowance + amount shared in both persons of net income

as that

total net income = $103,000 + $3,000 +$3,000

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7 0

3 years ago

Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items

OLEGan [10]

a. The average aggregate inventory value is $336,000.

b. The number of weeks of supply that the firm has is 3 weeks, approximately (2.69 ($336,000/$6,500,000 x 52).

c. The inventory turnover of Sapphire Aerospace for last year was 19.3x.

Question Completion:

Category Part Number Average Value Total Category

Inventory Units per Unit Value Totals

Raw Materials RM-1 20,000 $1 $20,000

Materials RM-2 5,000 5 25,000

RM-3 3,000 6 18,000

RM-4 1,000 8 8,000 $71,000

Work-in-process WIP-1 6,000 10 60,000

WIP-2 8,000 12 96,000 $156,000

Finished goods FG-1 1,000 65 65,000

FG-2 500 88 44,000 $109,000

Total value of inventory $336,000 $336,000

Inventory turnover = Cost of goods sold/Average inventory

= 19.3x ($6,500,000/$336,000)

Thus, the average inventory value is $336,000, while the inventory turnover was 19.3x.

Learn more about inventory turnover here: brainly.com/question/5701250

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3 years ago