Click on the icon in order to copy its content 2014 Selected Income Statement Items for Rian Company $530,000 $656,000 $1,186,000 $622,184 to a spreadsheet Cash sales Credit sales Total sales Cost of goods sold Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have heeded to be cash sales for the company to have met the collection goal? f total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal? (Round to the nearest dollar.)
Click on the icon in order to copy its content 2014 Selected Income Statement Items for Rian Company $530,000 $656,000 $1,186,000 $622,184 to a spreadsheet Cash sales Credit sales Total sales Cost of goods sold Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have heeded to be cash sales for the company to have met the collection goal? f total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal? (Round to the nearest dollar.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
Question 4. Full info :)
Transcribed Image Text:**2014 Selected Income Statement Items for Rian Company**
- **Cash sales:** $530,000
- **Credit sales:** $656,000
- **Total sales:** $1,186,000
- **Cost of goods sold:** $622,184
Rian Company had set a target of 25.1 days for the collection cycle for 2014. If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to have met the collection goal?
**Question:** If total sales had remained at $1,186,000, how much of the sales revenue would have needed to be cash sales for the company to meet the collection goal?
- **Answer:** $_______ (Round to the nearest dollar.)
Transcribed Image Text:**Average Collection Cycle**
Use the following account information for Rian Company.
**2013 and 2014 Selected Balance Sheet Accounts of Rian Company**
| | 12/31/14 | 12/31/13 | Change |
|-----------------|-----------|-----------|---------|
| Accounts receivable | $45,863 | $55,385 | $9,522 |
| Inventory | $68,458 | $72,920 | $4,462 |
| Accounts payable| $32,328 | $30,171 | $2,157 |
**2014 Selected Income Statement Items for Rian Company**
- Cash sales: $530,000
- Credit sales: $656,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.Recommended textbooks for you
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Essentials Of Investments
Finance
ISBN:
9781260013924
Author:
Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:
Mcgraw-hill Education,
Foundations Of Finance
Finance
ISBN:
9780134897264
Author:
KEOWN, Arthur J., Martin, John D., PETTY, J. William
Publisher:
Pearson,
Fundamentals of Financial Management (MindTap Cou…
Finance
ISBN:
9781337395250
Author:
Eugene F. Brigham, Joel F. Houston
Publisher:
Cengage Learning
Corporate Finance (The Mcgraw-hill/Irwin Series i…
Finance
ISBN:
9780077861759
Author:
Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor, Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin., Jeffrey Jaffe, Bradford D Jordan Professor
Publisher:
McGraw-Hill Education