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3 years ago

The following data are taken from the financial statements of Bar Harbor Company:

Business

1 answer:

nikdorinn [45]3 years ago

7 0

Answer:

a. Accounts receivable turnover = Net sales on account/Average accounts receivable

2017

Accounts receivable turnover = $5,800,000/$530,000

Accounts receivable turnover = 10.94

2016

Accounts receivable turnover = $5,200,000 / $550,000

Accounts receivable turnover = 9.45

b. Average collection period = 365 days/Accounts receivable turnover

2017

Average collection period = 365/10.94

Average collection period = 33 days

2016

Average collection period = 365/9.45

Average collection period = 39 days

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Culinary Enterprises manufactures cookware sets and sells the sets to department stores. Culinary expects to sell 2 comma 600 co

Juli2301 [7.4K]

Answer:

The Total Budgeted Sales of May is $944,000

Explanation:

Budgeted sales are those sales which a business estimated in a particular period of time. While budgeting the future value company calculated the sales cost and other expenses to minimize the uncertainty and prepare for the future.

As per given data

In May

Budgeted sales Volume = 3,200 cookwares

Budgeted price per unit = $295

Budgeted Sale value = Budgeted Volume x Budgeted Sales price = 3,200 cookwares x $295 = $944,000

Cash Sales = $944,000 x 25% = $236,000

Credit Sales = $944,000 x 75% = $708,000

4 0

3 years ago

In Ireland, a pint of beer costs 2.2 Irish pounds. In Australia, a point of beer costs 4 Australian dollars. If the nominal exch

AnnZ [28]

Answer:

.91 pints of irish beer per pint of Australian beer

Explanation:

As we know that

The exchange rate of

1 AUD = 0.5 pound

Now

In Ireland, 1 beer cost = 2.2 pound

And, in Australia, 1 beer cost = 4 AUD

As 1 AUD = 0.5 pound

so 4 AUD is

= 0.5 × 4

= 2

Now the exchange rate is

= 4 AUD beer cost ÷ 1 beer cost in Ireland

= 2 ÷ 2.2

= 0.91

hence, the real exchange rate is 0.91

7 0

3 years ago

EZ Electronics Inc., Neo Digital Inc., and Techno Products Corp. are all companies that manufacture and sell consumer electronic

VikaD [51]

Answer is Industry

Explanation:

An industry is a group of companies whose primary business activities like production, marketing, procurement and product design are related. In order words, an industry is a group of companies that sells related goods and services to satisfy similar customer needs in a particular economy.

Since EZ Electronics Inc., Neo Digital Inc., and Techno Products Corp., are all grouped as manufacturers and sellers of consumer electronics, it describes their similarities, of which their relative attractiveness or consumer preference can be compared with each other. Therefore, they are a part of an industry.

8 0

3 years ago

The Exam Fun Co. had Accounts Receivable of $100,000 and a credit balance of $2,000 in Allowance for Doubtful Accounts on 12/31/

AleksAgata [21]

Answer:

A. dr. Bad Debt Expense 3,000 and cr. Allowance for Doubtful accounts 3,000

Explanation:

Bad debt Expense will be calculated using the percentage of debt loss. The expense will be calculated using the account receivable balance.

Closing Value of the Allowance for Doubtful Accounts will be as follow

Closing Balance = $100,000 x 5% = $5,000

As Allowance for Doubtful Accounts already have credit balance of $2,000, we need to adjust the remainder to make the closing balance of Allowance for Doubtful Accounts $5,000 at the year end.

Adjustment Value = $5,000 - $2,000 = $3,000

6 0

3 years ago

Read 2 more answers

Ready Company has two operating (production) departments: Assembly and Painting. Assembly has 280 employees and occupies 55,200

Agata [3.3K]

Answer:

$61,200

Explanation:

Maintenance expenses allocated to assembly department

Allocation base = Square footage

= $102,000 * $55,200 / ($55,200 + $36,800)

= $102,000 * $55,200 / $92,000

= $61,200

7 0

3 years ago