4. Size of Accounts Receivable [LO1] Skye Flyer, Inc., has weekly credit sales of $21,900, and the average collection period is 33 days. What is the average accounts receivable figure?

Q: YZ's receivables turnover is 24x. The accounts receivable at year-end are $410,000. The average…

A: Account receivables are payment due to the customers that are not received yet and will be received…

Q: What is the effective rate of a credit card whose Annual Interest Rate is 28.99% and compounds…

A: Annual interest rate = 0.2899 or 28.99% Number of compounding in a year = 365 Effective rate = ?…

Q: Company X has trade credit policy 1/10 N45. If you can borrow from a bank at 9,5% annual rate, would…

A: 1/10 net 45: 1/10 net 45 is a trade credit extended to the buyer from the seller which means the…

Q: Mansukh

A: The objective of this question is to find out how many months it will take to pay off an unpaid…

Q: The Malibu Corporation has annual credit sales of $36 million. The average collection period is 38…

A: Day sales in receivables= 365/receivables turnover38 =365/ receivables turnoverreceivables turnover=…

Q: Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company…

A: Average account receivable = (Beginning account receivable + Ending account receivable)/2 20Y9 =…

Q: If trade Receivables Turnover is 5 ,and average Trade Receivables is 100.000 a) Other Receivables…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: Blackwell Co. has credit sales of $317,428, costs of goods sold of $151,217, and average accounts…

A: Days sales in outstanding is the number of days required to collect receivables from credit…

Q: The I. M. Broke Co. has the following collection pattern for its accounts receivable: 40 percent in…

A: Business organizations are required to sell their goods on a credit basis. Out of the credit sales…

Q: What is the annual cost of a checking account with a monthly fee of $1.50 and a processing fee of…

A: Annual cost = Monthly fees * Number of months in a year + Processing fees per check * Number of…

Q: a.  How long is cash typically tied up in inventories? (Show computations) b.   What would be the…

A: a)-The Inventory conversion period In the question it takes 80 days to collect the sales receivable…

Q: McDowell Industries sells on terms of 4/10, net 40. Total sales for the year are $825,500. Thirty…

A: Discounted customers=15×30%=4.5 days

Q: How many months will it take to pay off a credit card debt of $4,000 by paying $250 per month at an…

A: Using NPER function in excel

Q: ccounts Receivable Analysis: A company reports the following Sales $649,700 64,970 Average accounts…

A: Ratio analysis: It is a method used to measure the liquidity, profitability, efficiency of the…

Q: Use PMT= PA to determine the regular payment amount, rounded to the nearest dollar. Your credit card…

A: Monthly payment for a credit card carries the payment for interest and payment for the loan balance…

Q: e Collection period 21.9

A: Average collection period is the average time after which collections are being made by debtors.

Q: The quoted rate on your credit card is 18 percent and the card has a $57 annual fee. If your average…

A: Transactions in credit card is chargeable with monthly interest rate. Finance charge =average daily…

Q: La Reina de Oriente, S.A., a company that sells sausages, knows that it pays its suppliers 10 times…

A: “Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: You have an outstanding credit card balance of $4,000. You decide to stop making new charges and pay…

A: Number of months that can be taken to pay off the total balance can be calculated using NPER…

Q: The last request from the head of the division to you is based o millions of dollars): Assets $…

A: According to book value accounting, we need to make adjustments to account for the uncollectable…

Q: An FI has estimated the following annual costs for its demand deposits: management cost per account…

A: Regulators impose reserve requirements on demand deposits of banks and FIs. The reserve requirements…

Q: Dahlia Corporation has a current accounts receivable balance of $444,016. Credit sales for the year…

A: Receivable turnover, also known as accounts receivable turnover, is a financial ratio that measures…

Q: Accounts receivable turnover and days' sales in receivables For two recent years, Robinhood Company…

A: The account receivables turnover tells about the efficiency of the business to convert its customers…

Q: Your firm has an average receipt size of $130. A bank has approached you concerning a lockbox…

A: Average receipt size = $130Reduction in collection time = 2 daysChecks per day = 5,400Daily interest…

Q: The bank statement opposite shows transactions over a one-month period for a savings account that…

A: Interest on savings account is calculated on daily balance in the account.

Q: (A) Under the percentage-of-sales method, the uncollectible account expense would be: a. $3,000 b. $…

A: The amount of accounts receivable that a company may be unable to collect from its customers is…

Q: The Malibu Corporation has annual credit sales of $25 million. The average collection period is 27…

A: Average collection period is the formula which is used for determining the average days will be…

Q: 5. Calculating Cash Collections [LO3] The Morning Jolt Coffee Company has projected the following…

A: Receivable is the amount of that an entity owns from its customers. It can received at any future…

Q: 29. The Cash Receipts Journal of the X & Y Co shows the following accounts and account balances:…

A: A cash receipts journal is a type of journal that is used to record cash that a company receives…

Q: ccounts receivable turnover and days' sales in receivables or two recent years, Robinhood Company…

A: The account receivables turnover ratio is calculated as the net sales divided by average account…

Q: Accounts Receivable, beg. 140,000.00; Accounts Receivable, end 75,000.00; Net Sales - 3,500,000.00.…

A: Formula: Cash Collection from Sales on Account = Beginning Accounts receivable + Credit sales -…

Q: ABC Corp accounts receivable, beginning and ending balances were P80,000 and P100,000, respectively.…

A: Credit sales = Ending accounts receivable + Write offs + Collections - Beginning accounts receivable

Q: You have an inactive credit card with $1100 outstanding unpaid balance. The credit card charges at…

A:

Q: What is the effective interest rate of a simple discount note for $27,100, at an ordinary bank…

A: Effective interest rate is the rate charged on the borrowed amount on an annual basis considering…

Q: 4.The following data were available for ABC Company at Dec 31, 20X2: Accounts Receivable, beg…

A: 1. Accounts Receivable, beg P15,000 - It is related to the prior period 2. Accounts Receivable, end…

Q: Q6. Pujols Lumber Yard has a current accounts receivable balance of $394,539. Credit sales for the…

A: First, find the receivable turnover ratio ( RTOR) = Credit Sales / Accounts receivable  Given credit…

Q: 11. Suppose you have a balance of $5400 on your credit card, which charges an APR of 18%. If you…

A: Monthly payment refers to an amount that is paid at every month for the repayment of loan amount…

Q: Zuo Software categorizes its accounts receivable into four age groups for purposes of estimating its…

A: Allowances for uncollectible accounts means provision which we need to make becuase there will be…

Q: 2. The APR on Christie's credit card is currently 32.4%. What is the monthly periodic rate

A: The monthly periodic rate is calculated using following equation Periodic rate = APRm Where, APR is…

Q: Net Credit Sales = 12,000. Accounts receivable turnover = 18.8 times. Cost of goods sold = 2,000.…

A: average collection period in days = 365 days / accounts recievables turnover ratio   Given that,…

Q: Use PMT= 1 - ( ₁ + - - - n to determine the regular payment amount, rounded to nt the nearest…

A: Given, The credit card balance is $5,600 Rate is 18% Term is 3 years

Q: A company has $50,000 in accounts receivable. The company estimates that 5% of accounts receivable…

A: The net realizable value of accounts receivable is the amount the company expects to collect after…

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.