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: 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: What is the accounts receivable turnover ratio? O 17.1 times 10.0 times 13.3 times 20.0 times

A: Financial ratios are those which provide a summary of the accounts of a company and helps an…

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

A: Calculation of accounts receivable turnover ratios Accounts receivable turnover ratio = Net Sales/…

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: (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: A firm starts with $5,000 of accounts receivables and ends the period with $4,000 of receivables. If…

A: Sales revenue: It can be defined as the amount received by an individual or entity against the sale…

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: Accounts Receivable, beg. 140,000.00; Accounts Receivable, end 75,000; Net Sales - 3,500,000.00. Of…

A: Answer -  Cash Collection from Sales on Account =  Beginning Accounts receivables + Sales - Ending…

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: #9: Accounts Receivable, beg. 150,000.00; Accounts Receivable, end 125,000.00; Cash Collection from…

A: Accounts Receivable A/c  Particulars  Amount Particulars  Amount To balance  b/d  150,000.00 By…

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

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.