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
Debora [2.8K]
2 years ago
10

Granger Corporation had $208,000 in sales on account last year. The beginning accounts receivable balance was $25,000 and the en

ding accounts receivable balance was $29,000. The corporation's average collection period was closest to: (Round your intermediate calculations to 2 decimal places.)
Business
1 answer:
Misha Larkins [42]2 years ago
4 0

Answer:

the average collection period is $27,000

Explanation:

The computation of the average collection period is shown below:

The Average collection Period is

= (365 × Average Accounts Receivable) ÷ sales Revenue

= (365 × $27,000) ÷ $208,000

= 47.38 days

The average account receivable is

= ($25,000 + $29,000) ÷ 2

= $27,000

hence, the average collection period is $27,000

You might be interested in
Marilyn has a biweekly gross pay of $810 and claims 3 federal withholding allowances. Marilyn has all of the following deduction
frutty [35]

The net pay of Marilyn will increase by $18.15 due to the increase in the federal withholding allowances from 3 to 4.

<h3>The computation of net pay considering various federal withholding allowances</h3>

Given,

Gross pay =$810

3 Federal withholding allowances =$37 (taken from the reference table)

4 Federal withholding allowances =$22 (taken from the reference table)

Federal state tax rate =21%

First, the state tax rate and the total amount of withholding for 3 Federal withholding allowances are computed:

\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$37\times21\%\\&=\$7.77\end{aligned}

\begin{aligned}\text{Total Amount of 3 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$37+\$7.77\\&=\$44.77\end{aligned}

Now, the state tax rate and the total amount of withholding for 4 Federal withholding allowances are computed:

\begin{aligned}\text{State Tax}&=\text{Claim Amount}\times\text{Federal State Tax Rate}\\&=\$22\times21\%\\&=\$4.62\end{aligned}

\begin{aligned}\text{Total Amount of 4 withholdings}&=\text{Claim Amount}+\text{State Tax}\\&=\$22+\$4.62\\&=\$26.62\end{aligned}

The difference in the net pay will be the difference between $44.77 and $26.62, which is $18.15.

Therefore, Marilyn withholding will decrease from $44.77 to $26.62 that is increasing the net pay by $18.15

Learn more about federal-state tax, refer to the link:

brainly.com/question/25828729

7 0
2 years ago
The listing agent received a full price offer that she faxed to the out-of-town seller. The seller signed the faxed copy, and fa
ExtremeBDS [4]

Answer: Yes contract has been formed.

Explanation: According to the Uniform Electronic Transaction Act (UETA), electronic transactions are just as binding as transactions made on hardcopy documents. Moreover signatures made electronically reinforces the validity of these elctronic documents.

In the scenario the actual signature was signed on a hard copy by the seller, but it was then faxed back to the listing agent. This faxed copy, showing the faxed signature, is an electronic document that confirms the existence of the contract in accordance with the UETA. This faxed signature is as enforceable as an ink signature.

6 0
3 years ago
When a company does not have any convertible securities or options or warrants outstanding, the company has:
WITCHER [35]

Answer: Simple capital structure

Explanation: A company that does not have potentially dilutive or convertible securities in its capital structure, is said to have a simple capital structure. In a simple capital structure, the corporation finance its operation with common stock or non convertible preferred stock.

Hence , from the above we can conclude the right option is C.

6 0
2 years ago
1. Accounts in non-depository institutions are almost always insured by the government. [x]True False 2. All financial instituti
Darina [25.2K]
The right answer for the question that is being asked and shown above is that:

"FALSE." <span>Accounts in non-depository institutions are almost always insured by the government. 
</span>"FALSE." All financial institutions are equally safe and <span>beneficial to use.
"TRUE." </span><span> Financial experts recommend that you compare at least several different financial institutions in your area and find the one that best meets your needs.
"TRUE." </span><span>Personal financial planning is the process of creating and achieving financial goals
"FALSE." </span><span>Shared decision-making is always a positive strategy to take</span>
6 0
2 years ago
describe the difference between autonomous expenditure and induced expenditure. Which sectors of the economy are assumed to have
Vika [28.1K]

Answer:

The difference between autonomous expenditure and induced expenditure is as follows:

The autonomous expenditure is incurred even without a disposable income.  The expenditure is incurred to provide basic necessities of life.  In such a situation, the person spends from savings account or borrows to ensure that the basic necessities are provided.

On the other hand, induced expenditure is a disposable income-based expenditure.  This implies that when disposable income rises, induced expenditure also rises, and vice versa.  Induced expenditure is usually incurred to fund normal goods and services and not necessities.  Without disposable income, there is no induced expenditure.

All the four sectors of the economy engage in these expenditures.  The public (government) and household sectors are mostly affected.  However, even the business and non-profit sectors are also affected by these types of expenditure.

Explanation:

We can distinguish between two types of aggregate expenditure.  The first one is autonomous aggregate expenditure, which does not vary with the level of real GDP while induced aggregate expenditure varies with real GDP.

3 0
2 years ago
Other questions:
  • Another bank is also offering favorable terms, so Rahul decides to take a loan of $18,000 from this bank. He signs the loan cont
    6·1 answer
  • Martin Enterprises needs someone to supply it with 120,000 cartons of machine screws per year to support its manufacturing needs
    5·1 answer
  • Five years ago, Alicia invested $10,000 at 5% interest. How much less money would she have today if she had invested the money a
    11·1 answer
  • At the end of the day, the cash register's record shows $1,278, but the count of cash in the cash register is $1,259. The correc
    6·1 answer
  • An international calling plan charges a rate per minute plus a flat fee. a 10-minute call to france costs $3.19. a 15-minute cal
    7·1 answer
  • A one-month European call option on Bitcoin is with the strike price of $8,505, $8,705, and $8,905 are trading at $600, $500, an
    15·1 answer
  • Given the general agreement that pollution is undesirable and social welfare is increased by reducing pollution, the optimal lev
    13·1 answer
  • The Northern Division of Southwest Clothing Inc. forecasts (has budgeted) the following income statement for the upcoming year:
    6·1 answer
  • Assume the account number for income summary is 901.2
    9·1 answer
  • Michael Corporation manufactures railroad cars, which is its only product. The standards for the railroad cars are as follows:
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!