*Marking brainliest for the first right answer*

Walker Clothing Store has a balance in the Accounts Receivable account of $390k at the beginning of the year and a balance of $4

lesantik [10]

Answer: The average collection period of the receivables in terms of days was 73 days.

Explanation:

Given that,

Accounts Receivable at the beginning of the year = $390,000

Accounts Receivable at the end of the year = $410,000

Net credit sales during the year = $2,000,000

Average collection period of the receivables in terms of days:

Average accounts receivables = $\frac{410000 + 390000}{2}$

= 4,00,000

Net credit sales = $\frac{2000000}{400000}$ = 5

∴ Accounts receivable days = $\frac{365}{5}$

= 73 days

The average collection period of the receivables in terms of days was 73 days.

4 0

3 years ago

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

Snowcat [4.5K]

Answer:

The total amount that Rahul owes the bank at the end of the loan's term is $18,455.61

Explanation:

Hi, in order to find the total amount that Rahul will owe the bank in 3 months, we need to use the following formula (this is for a compounded daily rate).

$FutureValue=PresentValue(1+\frac{r}{365} )^{\frac{n*365}{12} }$

Where:

r = compounded rate (in our case, 10% compounded daily)

n = time in months of the loan

PresentValue = $18,000

Everything should look like this.

$FutureValue=18,000(1+\frac{0.10}{365} )^{\frac{3*365}{12} }$

$FutureValue=18,000(1+0.000273973 )^{91.25 }=18,455.61$

So, the total amount that Rahul owes the bank at the end of the loan's term is $18,455.61

Best of luck

5 0

3 years ago

Because of an accident Royce was involved in, his insurance company has increased his annual premium for auto insurance by 5. 2%

PSYCHO15rus [73]

Premium is often paid by people based on some kinds of services offered.

From the picture attached, we can see Royce' premiums for the previous year, which were;

Bodily injury $22.50
Property damage $144.75
Collision $275.75
Comprehensive $100

If you add all together, the total premium of the policy was $543

Note that the premiums will increase by 5.2%,

therefore, the new total premium will be = $543 x 1.052 = $571.24

Learn more from

brainly.com/question/13880376

7 0

2 years ago

With a cost-oriented pricing strategy, a price setter stresses the ____ side of the pricing problem and the price is set by look

NeX [460]

The answer to the first unknown is the "COST SIDE" while the answer to the second unknown in the problem is "PRODUCTION AND MARKETING COST". Hence, with a cost-oriented pricing strategy used and implemented by many companies, a price setter stresses the COST SIDE of the pricing problem and the price is set by looking at the PRODUCTION and MARKETING COST.

6 0

3 years ago

The company is currently selling 5,000 units per month. Fixed expenses are $243,000 per month. The marketing manager believes th

REY [17]

Answer:

If the company decides to increase its advertising budget, its net profits will decrease by $200 (= $56,800 - $57,000).

Explanation:

The company is currently selling 5,000 units per month at $150 per unit, and its total variable costs are $90 per unit.

Fixed expenses are $243,000 per month.

Current income statement:

sales revenue = $750,000

minus variable costs = ($450,000)

<u>minus fixed costs = ($243,000) </u>

net income = $57,000

If the company increases its advertising budget be $11,000 it should sell 180 more units per month, the new income statement would be:

sales revenue = $777,000

minus variable costs = ($466,200)

<u>minus fixed costs = ($254,000) </u>

net income = $56,800

If the company decides to increase its advertising budget, its net profits will decrease by $200 (= $56,800 - $57,000).

7 0

3 years ago