ACT 5140 smart book chapt 23

hr.3

Page 328 EXERCISE 7.9 Industry Characteristics and Collection Performance e LO7-8 The following information was taken from annual reports of Goodyear Tire & Rubber and PPL Corp.., a public utility: Goodyear PPL Net sales $18.1 billion $ 11.5 billion Average accounts receivable 2.3 billion 923 million a. Compute for each company the accounts receivable turnover rate for the year. b. Compute for each company the average number of days required to collect outstanding receivables (round answers to nearest whole day). c. Explain why the figures computed for Goodyear in parts a and b are so different from those computed for PPL.

23

Hi expart Provide correct solution

MN * 00 HI %#3 https://ezto.mheduc Help Save & Exit Saved t-Chapter 11 & 13 Review Jackson Company has developed the following sales projections for the calendar year: 000 000 May June July 156,000 August September 000 000 99 000 October Normal cash collection experience has been that 50% of sales is collected during the month of sale and 45% in the month following the sale. The remaining 5% of sales are never collected. Jackson's budgeted cash collections for the third calendar quarter are: (CMA adapted) Multiple Choice 000'00$ 20 of 20 Next nere to search 4/2 近 +D -3 PrtSc Delete F5 F7 F8 F10 F11 F12 6 & %23 $4 4. 5. 6. P. G B N Alt Ctrl

Please do not give solution in image format thanku

Problem 8.7

Question 35 An auditor noted that client sales had increased 10 % for the year. At the same time cost of goods sold had decreased from 45% to 40% and year end accounts receivable had increased by 8%. The auditor is most likely concerned about:     unrecorded costs     improper credit approvals     Improper sales cut-off     fictitious sales

Exercise 22-19 Cash conversion cycle LO A4   ($ millions) Accounts payable, end of year $ 49,049   Accounts receivable, net, end of year   17,874   Inventory, end of year   4,855   Net sales   229,234   Cost of goods sold   141,048     Use the information above to compute the number of days in the cash conversion cycle for Apple. (Use 365 days in a year. Round calculations to the nearest whole day. Negative numbers should be indicated by a minus sign.)

6 Which of the following will increase the cash conversion cycle? ay an increase in inventory turnover a. b. an increase in accounts receivable turnover an increase in accounts payable turnover C. noie d. a decrease in average age of inventory 1owene moy of ebnoqunoo h l oh obiond 7. Operating cycle measures a, the time that elapses from the firm's receipt of raw materials until it pays for those materials bohsa yionni b. the time that elapses from the payment of raw materials until the firm is paid for its finished product c. the time that elapses from the firm's receipt of raw materials to begin production to its collection of cash from the sale of the finished product d. none of the above o la brlisaib15 0 albfieshtbeibrog tU nM s irionary and motives bo g sldsysg zonuoon d lliw sbyo 8. Operating cycle comprises of in a. the average age of inventory b. the average age of receivables ebyo gabso 21i as dagnol smsa of receivables less the average age of c. the average age of inventory…

PROBLEM #8 The current assets of Trisikstin Enterprise consist of cash, accounts receivable and inventory. The following information is available. Credit sales 75% of total sales Inventory turnover Working capital Current ratio Quick ratio Average collection period Accounts Payable 5 times P1,120,000 2 to 1 1.25 to 1 42 days Turnover 10 times Working days 360 days Compute for the following: 1. The estimated inventory amounts 2. Cash conversion cycle

3 6 02:20:34 ipped Book Hint Print erences Consider the following financial statement information for the Newk Corporation: Item Beginning $ 10,500 Inventory Accounts receivable 5,500 7,700 Accounts payable Credit sales Cost of goods sold $ 85,000 65,000 Operating cycle Cash cycle Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Ending $ 11,500 5,800 8,100 days days

Help me answer rhis prob 12

Part 2 please

Problem 9-15 A firm has no cash sales (all sales are on credit and are collected 28 days after the sale). If the receivables are $164,000, what is the level of sales? Assume there are 365 days in a year. Round your answer to the nearest dollar. $

Problem 9-18 A firm with sales of $21,000,000 has inventory of $1,800,000. The firm has no cash sales (all sales are on credit and are collected within 60 days). You are willing to sell inventory to the firm on credit provided that you will be paid within 77 days. Should you sell to this firm on credit? Assume there are 365 days in a year. (This question is more subtle than it appears. Think through all the given information.) Round your answer to the nearest whole number. On average, it will take you 31 days to receive the payments, therefore, you should not v sell to the firm on credit.

QUESTION 25 The face amount of accounts receivable for Rio Inc. is $20,000. It was estimated that 5% of the accounts will not be collected, cash discounts of $500 will be exercised, and $200 of sales returns will be experienced. The net realizable value of accounts receivable is     $19,500     $19,300     $20,000     $18,300

Question 13 Calculate the average collection period for Roman Inc. if its accounts receivables were $550 at the beginning of a year in which the firm generated $3,000 of sales? OA 61 days OB. 73 days OC. 60 days OD.67 days

H#5 My Aunt’s Closet Store collects 60% of its accounts receivable in the month of sale and 35% in the month after the sale. Given the following sales, how much cash will be collected in March? Feb: $20,000 March: $60,000 April: $70,000

The following information is available for Rivers, Inc.:                                                                                                       12/31/20A2          12/31/20A1Cost of Goods Sold                                                                       $ 900,000                  $ 700,000Net Sales                                                                                         1,500,000                   1,000,000Accounts Receivable                                                                         180,000                       200,000Allowance for Doubtful Accounts                                                       30,000                        40,000What was the accounts receivable turnover ratio for 20A2? Group of answer choices 8.33 9.68 7.89 5.81

Exercise 22-20 (Algo) Cash conversion cycle LO A4 A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales Cost of goods sold Current Year $ 8,763 Prior Year $ 12,708 29,245 18,574 11,064 10,535 166,000 113,000 81,000 117,000 (1) Compute the number of days in the cash conversion cycle for each year. (2) Did the company manage cash more effectively in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle for each year. Note: Use 365 days in a year. Round calculations to the nearest whole day.) Cash conversion cycle Current year days Prior year days

Question 11 options: Answer the following, in the blank provided using the specified format.  (For example: 40 days) A company's current revenue is $10,000,000 and accounts receivable are now $1,000,000. The sales manager estimates that sales should increase by 10% during the following year.  The accounts receivable manager estimates that the new level of accounts receivable will remain unchanged. The companies current average collection period is ____.

Hcs/380 week 4

I need answer typing clear urjent no chatgpt i will give 5 upvotes