please ans if you 100% confidence . X Your answer is incorrect.Compute Swifty's accounts receivable turnover for the year, assuming the receivables are sold. (Round answers to 2 decimal places,eg. 4.57.)Accounts receivable turnover40400timesDays to collect accounts receivable109days Presented below is information for Swifty Company.Beginning-of-the-year Accounts Receivable balance was $21,400.2.Net sales (all on account) for the year were $103,800. Swifty does not offer cash discounts.Collections on accounts receivable during the year were $84,800.Swifty is planning to factor some accounts receivable at the end of the year. Accounts totaling $12,800 will be transferred to CreditFactors, Inc. with recourse. Credit Factors will retain 6% of the balances for probable adjustments and assesses a finance charge of 5%.The fair value of the recourse obligation is $1,101.1.3.

Accounts receivable is the amount that shows that the income has been earned by the company but the…

Answered: Compute Swiftys accounts receivable…

Business

Accounting

Compute Swiftys accounts receivable turnover for the year, assuming the receivables are sold. (Rou

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Dorel Company is being purchased and has the following balance sheet as of the purchase date: $…

A: Net assets of Dorel = Current assets + Fair value of fixed assets - fair value of current…

Q: Which of the following is not an objective of the cash audit? determine that a. A long-term…

A: Objectives of Cash Audit One of the objectives for a cash audit is to verify that the recorded cash…

Q: Part 1 What would be your federal income tax if your taxable income was $117,000.00? S What is the…

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…

Q: a. What is the price of a share of HNH stock? b. Assume that management makes a surprise…

A: Price of the stock is the PV of future dividends. Now, dividends distributed are taxed at 15%.…

Q: problem below. Then do the activities as indicated. Use a separate sheet of раper. Lexley works in a…

A: Since we answer up to three sub-parts we shall answer first three. Please resubmit a new question…

Q: Investing activities Acquisition of fixed assets Sale of fixed assets Total cash flow from investing…

A: ($ in millions)The EBIT is The operating cash flow is

Q: Solve it correctly. I will rate accordingly with 3votes. Solve by hand and excel.

A: Rate of Return: The rate of return represents the net loss or gain made over a period of an…

Q: U-year maturity, 6% coupon bond paying coupons semiannually is callable in five years at a call…

A: Face value = $1,000Coupon rate = 6%Annual YTM = 5%Semi-annual YTM = 2.5%Years to maturity = 30…

Q: TREND ANALYSIS (In Millions) Revenue Cost of Sales Operating Expenses Trend Information 2 3 4…

A: Trend analysis is a technique used to make future predictions of a company based on the ongoing…

Q: Calculate the risk premium for each of the following rating classes of long-term securities,…

A: Given, Corporate Nominal interest rate = 4.92% Treasury rate (default free rate) = 4.52%

Q: 4. On June 10, Dzeko Co. Sold 10 shoes for $1,700 cash. Date Accounts titles Debit Credit June 1

A: In case of cash sales the cash account will be debited.

Q: Bottoms Up Diaper Service is considering the purchase of a new industrial washer. It can purchase…

A: Capital budgeting refers to the technique used for estimating the viability of the project using…

Q: Question 15 A corporate bond pays 8.7 percent interest. You are in the 30 percent tax bracket. What…

A: According to bartleby guidelines , if multiple questions are asked , then 1st question needs to be…

Q: Using the same purchase information at the beginning of the question, prepare the table assuming…

A: Depreciation expense :— It is the allocation of depreciable cost of asset over the estimated useful…

Q: Please

A: 1) In the given problem, a good division would mention that every relative would be entitled to…

Q: Depreciation Solve the following application problems. Round to the nearest dollar. 1. The Clock…

A: The depreciation expense is calculated with the estimated usage of the assets on the basis of useful…

Q: Costco Wholesale Corporation is an American multinational corporation which operates a chain of…

A: A business transaction that has not yet been recorded in the accounting records of the company as of…

Q: please answet the following question thanks

A: Minimum transfer price is the amount which is paid to one division by the other after purchasing the…

Q: $7 each. a. How many pies must be sold in order to break even? b. What would the profit (loss) be if…

A: Breakeven even analysis determines the number of units sold in order to make no profit nor loss. In…

Q: Question 3 Peter borrows $484466 at nominal interest rate of 6.5% compounded monthly. (For the…

A: EMI or monthly mortgage payments are the fixed amount paid by the borrower to the lender that…

Q: Accumulate $2000 for 3 years at 7% simple interest. O I = $420; F = $2420 %3D %3D O 1= $4200; F=…

A: Amount (P) = $2000 n = 3 years r = 7%

Q: Please can you show me step by step to solve for OFC? Thank

A: OCF is Operating Cashflow which is the money a firm generates through its regular operations.

Q: Candy Company had sales of $320,000 and cost of goods sold of $112,000. What is the gross profit…

A: Gross Profit ratio = [(Sales - Cost of goods sold)/Sales]

Q: b- Prepare the following financial statements: Income statement Statement of owner's equity Balance…

A: Income statement:Income statement shows the revenue earned during the year and other income and…

Q: Garrett Company has the following transactions during the months of April and May: Date Transaction…

A: FIFO is an inventory valuation method that assumes the first items purchased or added to inventory…

Q: REQUIRED bo 1. Prepare a schedule to assign the difference between the fair value of the investment…

A: Consolidated balance sheet defines the balance sheet prepared by the parent entity after the process…

Q: Sarasota Company began operations on July 1, 2015, and has used the average-cost method of inventory…

A: A change in inventory valuation method is a change in accounting policy and therefore retrospective…

Q: Please answer all components .of this question there should be 4 seperate calculation if you do so i…

A: The objective of the question is to determine if the cash flows are an annuity, identify the…

Q: rection: Identify if the statement is True or False. Write T if it's true, otherwise, F. Write yo…

A: Overtime payments are must be paid at double the worker's usual rates of pay, according to Section…

Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

Q: Find the total amount received for an automated phone sale of 790 shares of AT&T stock at $24.48 per…

A: In addition to any associated brokerage costs, the SEC fee is a small fee associated with the…

Q: 6. On August 1, 2011, Airport Company sold Paxton Company $1,000,000 of 10-year, 6% bonds, dated…

A: A journal entry is a form of accounting entry that is used to report a business transaction in a…

Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

Q: Consider the two mutually exclusive investment projects given in the table below for which MARR =…

A: The internal rate of return (IRR) is the rate of return that equates the present value of future…

Q: Cash Accounts rec. Inventory Total C.A. Net fixed assets Total assets Last Year Year Year $1,380…

A: Cash flow from assets represents all cash flows that are recorded by the company that relate to…

Q: Marin Inc. manufactures cycling equipment. Recently, the company's vice-president of operations has…

A: STEP 1 Coupons may or may not be connected to a bond. A coupon is expressed as a nominal percentage…

Q: West Corp. issued 13-year bonds 2 years ago at a coupon rate of 9.4 percent. The bonds make…

A: The yield to maturity indicates the overall return an investor can anticipate from a bond if they…

Q: Consider a piece of equipment that costs $60,000. The estimated salvage value after six years is…

A: Double Declining Balance Method the depreciation is computed by the formula: DDB = 2Useful life of…

Q: Required information Convers Corporation (calendar year-end) acquired the following assets during…

A: MACRS depreciation:- In United States, the depreciation method utilized for tax purposes is…

Q: The Adjusting Process Excerpt from the Chart of Accounts: Assets: Accounts Receivable, Interest…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: Indirect exporting occurs when a business sells its products in foreign markets. A Through other…

A: Indirect Export: Indirect export refers to the sale of products or services to a middleman who then…

Q: return filers

A: Every person has to file taxes and pay them on time as designated by the tax authority. Failure to…

Q: For the year ended December 31, 2025, Carla Vista Inc. reported the following: Net income Preferred…

A: Income statement is referred to as the financial statement which represents the financial…

Q: 15. If you make a single deposit into an account, at what annual interest rate compounded yearly…

A: It can be calculated using Yield to maturity can be calculated by following function in excel =RATE…

Q: Compute each of the following: (Round your answers to 2 decimal places.) a. Current ratio b.…

A: Ratio analysis is the technique used to analyze the financial health of the company. Different…

Q: Albert is a 50% partner in STL Partnership. He received a guaranteed payment (GP) of $20,000 for the…

A: Accounting for Partnership firm

Question

please ans if you 100% confidence .

X Your answer is incorrect.
Compute Swifty's accounts receivable turnover for the year, assuming the receivables are sold. (Round answers to 2 decimal places,
eg. 4.57.)
Accounts receivable turnover
40400
times
Days to collect accounts receivable
109
days

Presented below is information for Swifty Company.
Beginning-of-the-year Accounts Receivable balance was $21,400.
2.
Net sales (all on account) for the year were $103,800. Swifty does not offer cash discounts.
Collections on accounts receivable during the year were $84,800.
Swifty is planning to factor some accounts receivable at the end of the year. Accounts totaling $12,800 will be transferred to Credit
Factors, Inc. with recourse. Credit Factors will retain 6% of the balances for probable adjustments and assesses a finance charge of 5%.
The fair value of the recourse obligation is $1,101.
1.
3.

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!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.