Blue Ridge Enterprises reported net sales totalling $950,000. The beginning accounts receivable balance was $90,000, and the ending accounts receivable balance was $78,000. Calculate the days' sales in receivables.

Blue Ridge Enterprises reported net sales totalling $950,000. The beginning accounts receivable balance was $90,000, and the ending accounts receivable balance was $78,000. Calculate the days' sales in receivables.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Related questions

Q: provide chose best answer

A: To determine the incremental free cash flows (FCF) in year 3, we follow these steps:Step 1: Compute…

Q: activity variance for detergent costs is?

A: Step 1: Definition of Activity VarianceActivity Variance measures the difference between the…

Q: A company has daily sales of $175,000. The financial team has determined that implementing a lockbox…

Q: 4 POINTS

A: Provided Data:Beginning Owners' Equity = $135,000Net Income = $42,000Dividends Paid = $31,000 Step…

Q: 4 POINTS

A: Explanation of Variable Costing: Variable costing is an inventory valuation method that only assigns…

Q: Need answer

A: Explanation of High-Low Method:The High-Low Method is a cost estimation technique used to separate…

Q: Need help with this financial accounting question not use ai and chatgpt

A: Step 1: Definition of Capital Gain or LossA capital gain or loss arises when a capital asset is sold…

Q: What amount is received as payment in full on March 24 for this accounting question?

A: Step 1: Define Cash DiscountA cash discount is a reduction in the invoice price granted by a seller…

Q: Financial Accounting

A: Step 1: Definition of Interest ExpenseInterest Expense refers to the cost incurred by a company or…

Q: ??

A: Step 1: DefinitionsRevenue - Revenue is the total income generated from the sale of goods or…

Q: Determine the amount of cash receivable

A: Explanation of Sales Reported:Sales reported refer to the total revenue recognized by a company…

Q: Hito’s Auto Spa has $95,000 of fixed costs and variable costs equal to 65% of sales. How much total…

A: Step 1: Calculation of contribution margin ratioSales is the sum of variable costs and contribution…

Q: Please give me answer general accounting question

A: Step 1: Definition of Fixed and Variable CostsFixed costs are constant and do not change with…

Q: Hello tutor provide solution this accounting question

A: Step 1: Definition of Lower of Cost or Market (LCM) RuleThe Lower of Cost or Market (LCM) Rule is an…

Q: What is the estimated cost?

A: Explanation of Retail Method: The retail method is an inventory valuation technique used by…

Q: Correct Answer

A: To calculate Taylor Industries' sustainable growth rate (SGR), use the formula:SGR=ROE×Retention…

Q: Problem for accounting question please solve

A: The total acquisition cost of the new building includes all expenses directly related to its…

Q: Want answer

A: Step 1: Recall the basic accounting equation.Assets = Liabilities + Equity Step 2: Rearrange the…

Q: Miguel Manufacturing Company uses a predetermined manufacturing overhead rate based on direct labor…

A: Step 1: a) Predetermined Manufacturing Overhead Rate: Predetermined Overhead Rate=Estimated Total…

Q: Compute the standard cost of one unit of product

A: Explanation of Budgeted Direct Material Cost:Budgeted direct material cost represents the estimated…

Q: Provide answer

A: Step 1: Calculation of average accounts receivablesStep 2: Calculation of accounts receivables…

Q: the cost of goods manufactured

A: Step 1: Definition of Cost of Goods ManufacturedThe Cost of Goods Manufactured (COGM) is the total…

Q: Assume Newcome pays no taxes on this project.??

Q: ANSWER?

A: Concept of Budgeted CostsBudgeted Costs refer to the estimated expenses that a company plans to…

Q: Calculate free cash flow for this financial accounting question

A: Step 1: Definition of Free Cash Flow (FCF)Free Cash Flow (FCF) is the cash generated by a company…

Q: Sales reported on the income statement were $310,500. The accounts receivable balance declined by…

A: Step 1: IntroductionAccounts receivable is the amount customers still owe. If accounts receivable…

Q: No AI ANSWER

A: the firm's 14.61% sustainable growth rate suggests that it can develop without requiring changes to…

Q: Compute total manufacturing costs for this accounting question

A: Step 1: Define Total Manufacturing CostsTotal Manufacturing Costs refer to the sum of direct…

Q: Tutor give me ans

A: If there is an increase in the inventory during the period, this means that less inventory is sold…

Q: HELP

A: Step 1: Determine the depreciable cost.= cost of machinery - estimated salvage value= $250,000 -…

Q: subject : general accounting question

A: Step 1: Define Price/Earnings (P/E) RatioThe Price/Earnings (P/E) ratio is a financial metric used…

Q: The debt-to-equity ratio after the dividend payment

A: Step 1: Understand the Initial Financial PositionStep 2: Analyze the Effect of the Dividend Payment…

Q: Solve this Financial Accounting

A: Step 1: Information givenTotal Debt = $780Total Equity = $920We need to calculate the Debt to Equity…

Q: Need help with this accounting question

A: Step 1: Definition of High-Low MethodThe High-Low Method is a cost estimation technique used to…

Q: Activity cost pool?

A: Step 1: Definition of Activity RateThe activity rate in Activity-Based Costing (ABC) refers to the…

Q: Determine how many units the company sold in 2022 for this general accounting question

A: Step 1: Define Absorption vs. Variable Costing DifferenceUnder absorption costing, fixed…

Q: Calculate the dollar markup and cost

A: Let's go through the calculations step by step with detailed explanations. Given Information:Selling…

Q: Electronics has total assets

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial metric that…

Q: ROA?

A: Return on Assets (ROA) Calculation ROA is calculated using the formula: ROA=Total AssetsNet…

Q: Das Corp had originally expected to earn operating income of $150,000 in the coming year. Das's…

A: Explanation of Operating Income:Operating income is the profit a company generates from its core…

Q: Question 2Anti-Pandemic Pharma Co. Ltd. reports the following information inits income…

A: Step 1: Compute Operating Cash Flow (OCF)The formula for Operating Cash Flow…

Q: ??!!

A: Step 1:All the expenses which are necessary to put the asset in use are capital expenses and will be…

Q: plantwide overhead rate?

A: Step 1: Definition of Plantwide Overhead RateThe plantwide overhead rate is a single overhead rate…

Q: NO AI ANSWER

A: The Debt to Equity Ratio is calculated using the formula:Debt to Equity Ratio=Total Debt/Total…

Q: PLEASE HELP AND FILL ALL CELLS

A: Step 1: Working Notes: Commission revenue=Total price×Commission received=$67,000×7%=$4,690.00…

Q: Richardson Industries has budgeted total factory overhead for the year at $710,000, divided into two…

A: Explanation of Budgeted Direct Labor Hours:The Budgeted Direct Labor Hours refer to the estimated…

Q: Help

A: Calculation of the Total Cost of the MachineTotal Cost of the Machine = Purchase price + shipping…

Q: Hello tutor solve this problem and accounting question

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial metric that…

Q: provide correct answer

A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…

Q: Bloom Enterprises has fixed costs of $825,400. The selling price per unit is $210, and the variable…

A: Concept of Fixed CostsFixed costs are expenses that remain constant regardless of the level of…

Question

100%

Calculate the day's sales in receivables for this accounting question

Blue Ridge Enterprises reported net sales totalling $950,000.
The beginning accounts receivable balance was $90,000, and
the ending accounts receivable balance was $78,000.
Calculate the days' sales in receivables.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?
Elite Services Inc. had total net credit sales of $900,000 for the year. The beginning accounts receivable balance was $70,000, and the ending balance was $90,000. Calculate the accounts receivable turnover ratio. • Determine the average collection period in days.
Kavya Enterprises reported net sales of $65,000. The beginning accounts receivable was $12,000, and the ending accounts receivable was $18,500. What is the days sales collected for Kavya Enterprises? (Rounded answer to nearest day)
XYZ Company has the following information: Beginning accounts receivable: $50,000 Ending accounts receivable: $60,000 Credit sales: $200,000 Cash collections: $180,000 Calculate the company's accounts receivable turnover ratio and average collection period.
Abc
Beginning accounts receivable were $277,500 and ending accounts receivable were $303,300. Cash amounting to $2,950,000 was collected from customers' credit sales. Calculate the amount of sales on account during the period.
Net sales total $525,000. Beginning and ending accounts receivable are $42,000 and $46,000, respectively. Calculate days' sales in receivables.
What is the days sales collected for kavya enterprises?