A firm has projected next year's sales at $678 million of which 60 percent will be...
A firm has projected next year's sales at $678 million of which 60 percent will be for cash, and 40 percent will be on credit. Forecast the year-end accounts receivable balance if the firm expects an average collection period of 45 days (assume a 360-day year and calculate using year-end balance).
Homework Answers
Add Answer to:
A firm has projected next year's sales at $678 million of which 60 percent will be...
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for...
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for Quarters 1 to 4, respectively. Accounts receivable at the beginning of the year are $212 and the collection period is 18 days. What is the amount of the accounts receivable balance at the end of Quarter 2? Assume a year has 360 days. Please show your work. A) $212 B) $207 C) $178 D) $184 E) $167
A firm has sales of $1.9 million, and 15 percent of the sales are for cash....
A firm has sales of $1.9 million, and 15 percent of the sales are for cash. The year-end accounts receivable balance is $210,000. What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Average collection period __________ days?
A firm has sales of $26 million, and 20 percent of the sales are for cash
A firm has sales of $26 million, and 20 percent of the sales are for cash. The year-end accounts receivable balance is $160,000, What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Average collection period = _______ days
Dome Metals has credit sales of $378,000 yearly with credit terms of net 60 days, which...
Dome Metals has credit sales of $378,000 yearly with credit terms of net 60 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 60 days to pay . a. What is the average receivables balance? (Use a 360-day year.) AVERAGE RECIEBLES BALANCE b. What is the receivables turnover? ? (Use a 360-day year.) RECIEVABLES TURNOVER Dome Metals has credit sales of $126,000 yearly. If Dome offers...
A firm has sales of $2.6 million, and 25 percent of the sales are for cash....
A firm has sales of $2.6 million, and 25 percent of the sales are for cash. The year-end accounts receivable balance is $195,000. What is the average collection period?
Oral Roberts Dental Supplies has annual sales of $6,435,000. Eighty percent are on credit. The firm...
Oral Roberts Dental Supplies has annual sales of $6,435,000. Eighty percent are on credit. The firm has $800,800 in accounts receivable. Compute the value of the average collection period. (Do not round intermediate calculations. Use a 360-day year.) Average collection period ____________ days
(Efficiency analysis) ALei Industries has credit sales of $160 million a year.
(Efficiency analysis) ALei Industries has credit sales of $160 million a year. ALei's management reviewed its credit policy and decided that it wants to maintain an average collection period of 45 days. a. What is the maximum level of accounts receivable that ALei can carry and have a 45-day average collection period? b. If Alei's current accounts receivable collection period is 60 days, how much would it have to reduce its level of accounts receivable in order to achieve its goal of...
Oral Roberts Dental Supplies has annual sales of $6,615,000. Eighty percent are on credit. The firm...
Oral Roberts Dental Supplies has annual sales of $6,615,000. Eighty percent are on credit. The firm has $882,000 in accounts receivable. Compute the value of the average collection period. (Do not round intermediate calculations. Use a 360-day year.) Average collection period= _______days
Dome Metals has credit sales of $504,000 yearly with credit terms of net 60 days, which...
Dome Metals has credit sales of $504,000 yearly with credit terms of net 60 days, which is also the average collection period. Assume the firm adopts new credit terms of 3/18, net 60 and all customers pay on the last day of the discount period. Any reduction in accounts receivable will be used to reduce the firm's bank loan which costs 10 percent. The new credit terms will increase sales by 15% because the 3% discount will make the firm's...
Darla’s Cosmetics has annual credit sales of $1,314,000 and an average collection period of 45 days...
Darla’s Cosmetics has annual credit sales of $1,314,000 and an average collection period of 45 days in 2008. What is the company’s average accounts receivable balance? (Use a 360-day year.)
10. The firm has projected next year's quarterly sales at $960, $890, $980, and $1,050 for Quarters 1 to 4, respectively. Accounts receivable at the beginning of the year are $212 and the collection period is 18 days. What is the amount of the accounts receivable balance at the end of Quarter 2? Assume a year has 360 days. Please show your work. A) $212 B) $207 C) $178 D) $184 E) $167
Most questions answered within 3 hours.
-
a. Discuss the reciprocal/opposite “hormonal” regulation of the
most highly regulated steps of these two pathways....
asked 12 minutes ago -
Suppose a floor on a hospital has 12 physicians at any given
time. You are brought...
asked 4 minutes ago -
Members of unions had mounted campaigns to persuade customers
not to shop at a company because...
asked 13 minutes ago -
Why is the alpha carboxyl group pka value 2 ?
And why is an alpha amino...
asked 22 minutes ago -
Identify and assess an intrapreneurial
opportunities within Bank of America and
intrapreneurial assessment. Assess its impact...
asked 28 minutes ago -
How do I figure out the range of possible numbers that can be
represented by the...
asked 29 minutes ago -
A 0.48-kg metal sphere oscillates at the end of a vertical
spring. As the spring stretches...
asked 32 minutes ago -
If a block of Si is doped with 10^17 Boron atom/cm^3 and 5X10^16
Arsenic atoms/cm^3,
(a)...
asked 59 minutes ago -
Why would natural selection not minimize costs (in the form of
symptoms) of evolved defenses? (choose...
asked 1 hour ago -
What is true about a critical task?
Latest finish time - latest start time = 0...
asked 1 hour ago -
A company uses a
process costing system. Its Assembly Department's beginning
inventory consisted of 56,800 units,...
asked 1 hour ago -
a
sealed glass cylinder contains 325 g of N2 gas at 1.02 atm at 20 c....
asked 1 hour ago