I Need help finding the number of days of sales..... **Accounts Receivable Analysis**A company reports the following:- **Sales:** $1,092,080- **Average accounts receivable (net):** $49,640Determine (a) the **accounts receivable turnover** and (b) the **number of days' sales in receivables**. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.a. **Accounts receivable turnover:** - Calculated as **22**b. **Number of days' sales in receivables:** - Field is left blank, indicating an incorrect entry or calculation. This analysis helps in understanding how effectively a company is managing its accounts receivable by showing how many times a company’s receivables are converted to cash in a year and how long it generally takes to collect receivables.

Accounts receivable turnover = Sales/Average accounts receivable Number of days' sales in…

Answered: A company reports the following: Sales…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

You observe the 9-day moving average on your chart has moved above the 26-day moving average, after being below it. This would suggest: A. A crossover sell signal B. A crossover buy signal
Answer full question
Fill in the blanks with the number that corresponds to the correct word or phrse below: 1. Deflation 2. GDP deflator 3. Consumer price index (CPI) 4. base 5. Labor statistics 6. Employment cost index 7. dollar 8. Producer price index 9. International price index 10. Consumer expenditure survey 11. Percentage change 12. indices Price are created to calculate an overall average change in relative prices over time. To convert the money spent on the market basket of goods, to an index number, economists arbitrarily choose one year to be the year, or starting point from which we measure changes in prices. The year, by definition, has an index number equal to 100. The inflation rate is not derived by subtracting the index numbers, but rather through the calculation. Index numbers have no signs or other units attached to them. The most commonly cited measure of inflation in the United States is the The Bureau of is responsible for the computation of the Consumer Price Index. is a national…
The fitted regression is Sales = 920 - 27.5 Price. (0-1) If Price = 1, what is the prediction for Sales? (Round your answer to 1 decimal place.) Sales (a-2) Choose the correct statement. A decrease in price decreases sales. O An increase in price increases sales. O An increase in price decreases sales. (b) If Price = 23, what is the prediction for Sales? (Round your answer to the nearest whole number.) Sales (c) Choose the right option. The intercept is meaningful as sales will be maximized when price is zero. O The intercept is not meaningful as a zero price is both unrealistic and unobserved.
Please refer to the attached image. Here is the question: Using the exponential smothing model with an alpha of 0.2 and a smoothed forecast for period 1 of 350, what is the forecast for period 3?
You are the manager of a successful retail operation. Inflation has been running at 3% per year on the cost of inventory. Which inventory cost flow assumption would you use? FIFO, LIFO, or average? Justify your answer. Which provides the higher gross margin vs. the lower gross margin and why?
Classify this news event as systematic or unsystematic and indicate if prices will increase or decrease. From Marketwatch news on May 17th, 2022: Walmart's reports last quarter earning that are much lower than expected. Select one: a. Systematic; Decrease b. Unsystematic; Increase c. Unsystematic; Decrease d. Systematic; Increase
Another way to look at the concept of inventory turnover is by measuring sales per square foot. Taking the average inventory at retail and dividing it by the number of square feet devoted to a particular product will give you average sales per square foot. When you multiply this figure by the inventory turnover rate, you get the annual sales per square foot. It is important to know the amount of sales per square foot your merchandise is producing, both on average and annually. These figures should be tracked monthly and compared with industry standards for businesses of similar size and type. You own a large multi product electronics store in a regional mall. The store has 10,200 square feet of selling space divided into five departments. (a) From the table below, calculate the average and annual sales (in $) per square foot. Then calculate the annual sales (in $) for each department and the total sales (in $) for the entire store. (Round your average and annual sales per square…
Which of the following is an example of a lagging indicator in OPM? A) Customer satisfaction surveys B) Employee training hours C) Quarterly sales results D) Number of new product launches
Please see below. I need help making a made up purchase schedule of inventory. Please include parts listed below. Note that these can be made up one but they need to make sense.
Every day, businesses have to make decisions that affect their bottom line. One such decision pertains to valuing inventory. Imagine that you have decided to open a new electronics store. As one of your first tasks, your accountant has asked you to adopt an inventory cost assumption for inventory valuation. Explain which method you would adopt and why.
Another way to look at the concept of inventory turnover is by measuring sales per square foot. Taking the average inventory at retail and dividing it by the number of square feet devoted to a particular product will give you average sales per square foot. When you multiply this figure by the inventory turnover rate, you get the annual sales per square foot. It is important to know the amount of sales per square foot your merchandise is producing, both on average and annually. These figures should be tracked monthly and compared with industry standards for businesses of similar size and type. You own a large multi product electronics store in a regional mall. The store has 10,600 square feet of selling space divided into five departments. (a) From the table below, calculate the average and annual sales (in $) per square foot. Then calculate the annual sales (in $) for each department and the total sales (in $) for the entire store. (Round your average and annual sales per square foot…

SEE MORE QUESTIONS

Recommended textbooks for you

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

FINANCIAL ACCOUNTING

Accounting

ISBN:

9781259964947

Author:

Libby

Publisher:

MCG

Accounting

ISBN:

9781337272094

Author:

WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.

Publisher:

Cengage Learning,

Accounting Information Systems

Accounting

ISBN:

9781337619202

Author:

Hall, James A.

Publisher:

Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…

Accounting

ISBN:

9780134475585

Author:

Srikant M. Datar, Madhav V. Rajan

Publisher:

PEARSON

Intermediate Accounting

Accounting

ISBN:

9781259722660

Author:

J. David Spiceland, Mark W. Nelson, Wayne M Thomas

Publisher:

McGraw-Hill Education

Financial and Managerial Accounting

Accounting

ISBN:

9781259726705

Author:

John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS