Compute the DSO for Tokyo Corporation which has the following aging schedule (No decimal point, use whole number): Account Age Amount Outstanding Average Days 0-30 days P55,000 24 31-60 days 30,000 42 Over 60 days 5,000 66

Compute the DSO for Tokyo Corporation which has the following aging schedule (No decimal point, use whole number): Account Age Amount Outstanding Average Days 0-30 days P55,000 24 31-60 days 30,000 42 Over 60 days 5,000 66

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter18: The Management Of Accounts Receivable And Inventories

Section: Chapter Questions

Problem 9P

See similar textbooks

Related questions

Q: Find the APR, or stated rate, in each of the following cases. Note: Do not round intermediate…

A: Please refer to formula used to calculate the effective annual rate ( EAR ).EAR = ( 1 +…

Q: Consolidet income statments for h& h company for two years are shown below 19x4 19x4 sales 230000,…

A: Understatement means that the closing inventory was more than it was recorded for.

Q: Presented below is an aging schedule for Halleran Company. Number of Days Past Due…

A: The allowance for doubtful accounts is created to record estimated bad debt expense.

Q: Two income statements for Satterfield Company are shown below. Satterfield Company Income…

A: The comparison in different year financial statement can be made on the basis of increase or…

Q: Assigning Traceable Fixed Expenses Selected data for Colony Company, which operates three…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Provide the missing information (A-H) in the table. Use the formulas learned in Chapter 10. (Round…

A: The margin ratio - is one of the ratios that measure profitability of the entity. It compares the…

Q: Satterfield Company Income Statements For the Years Ended December 31 20Y1 20Y0 Fees earned…

A: Horizontal analysis is made to review and analyse financial statements for a number of years. It…

Q: A company reports the following:Sales…

A: Formula to calculate asset turnover ratio:

Q: Porter Company is engaged solely in manufacturing operations. The following data (consistent with…

A: Reportable segments are those segments that have the value more than the test value of revenue,…

Q: Find the APR, or stated rate, in each of the following cases. Note: Do not round intermediate…

A: APR refers to the Annual Percentage rate which is paid year on year and includes the fees.

Q: Comparative data on three companies in the same service industry are given below. Required: 2. Fill…

A: Lets understand the basics.The margin ratio is a net operating income generated from the…

Q: Snow Company’s revenue for the year ended December 31, 2020 was as follows: Consolidated revenue per…

A: A REPORTABLE OPERATING SEGMENT IS A SEGMENT THAT HAS REVENUE EXCEEDING 10% OF COMBINED REVENUE OF…

Q: Provide the missing data in the following table: (Round "Turnover" answers to 1 decimal place.)…

A: Financial ratios are a way for a company to evaluate its financial position. These ratios assist in…

Q: At December 31, 2020, the unadjusted balance in Allowance for Doubtful Accounts is a credit of…

A: Bad debts are those account receivables, which are due to be received from customers, but has not…

Q: ion 9 e information below provided by Angel Baby Angel Company: 8,250,000.00 ting costs 4,725,000.00…

A: EVA is present value of net income after deductions of amount of assets invested initially.

Q: A company reports the following: Sales $10,975,200 Average total assets…

A: Asset turnover ratio = Sales/Average total assets

Q: 1. Chris has saved $6500 towards buying a car which is valued at $23,500. They plan to borrow the…

A: Interest: It is the amount that is paid by the borrower to the lender for taking a loan. It is paid…

Q: Snelling Company does business in two regional segments: North and South. The following annual…

A: Horizontal analysis is one of the methods of analyzing company financials by calculating the change…

Q: Provide the missing data in the following table: (Round "Turnover" answers to 1 decimal place.)…

A: Return on investment - Net income/Average operating assetsTurnover = Net sales/Average operating…

Q: Comparative data on three companies in the same service industry are given below: Required: 2. Fill…

A: Lets understand the basics.Margin ratio is a net operating income generated from the sales.Margin =…

Q: A company reports the following: Sales $1,069,000 Average total assets 534,500 Determine the asset…

A: · Ratio analysis used identify the business performance of the company.· It is used to…

Q: Presented below is information related to Watt Company in its first year of operation. The following…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Attached is a schedule of five proposed changes at the end of the year. ($ in 000s) Before…

A: Conservative accounting practices: Conservative accounting practices refer to the accounting…

Q: Find the EAR in each of the following cases. Note: Do not round intermediate calculations and enter…

A: An effective annual rate of interest or E.A.R. is the interest which is earned in real times over a…

Q: During its first year of operations, Mack's Plumbing Supply Co. had sales of $3,250,000, wrote off…

A: Net income before write off of accounts = Net income after write off of accounts + Account wrote off…

Q: Find the APR, or stated rate, in each of the following cases. Note: Do not round intermediate…

A: The "stated rate" refers to the interest rate that is made clear in a financial contract,…

Q: Air Company reported the following data for the current year: Income from continuing operations…

A: calculation of income or loss from discontinued operations are as follows

Q: Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts…

A: Total Manufacturing Cost = Direct Material + Direct Labour + Factory Overheads Cost of Goods…

Q: Prepare a horizontal analysis of Paragon Company’s income statements. If required, round your…

A: Percentage of increase/(decrease) = Increase amount/(Decrease amount)/Beginning balance (20Y6)

Q: a companys sales in year 1 350,000 and in year 2 387,500 using year 1 as the base year the percent…

A: Formula: Charge for year 2 = ( Year 2 value - year 1 value ) / year 1 Deduction of year 1 sales…

Q: A company reports the following:Sales $4,400,000Average total assets…

A: Asset Turnover: Asset turnover refers to the ratio calculated which determines the amount of sales…

Q: Waller Company does business in two regional segments: North and South. The following annual revenue…

A: Horizontal analysis: The comparison of an item of a financial statement of one year against the same…

Q: Use the following information (in thousands): Service Revenue ¥1,600,000 Income from continuing…

A: INCOME STATEMENTIncome Statement is one of the Important Financial Statements of the Company. Income…

Q: Find the APR, or stated rate, in each of the following cases. Note: Do not round intermediate…

A: Stated Rate = ((1 + Effective Annual Rate)^(1 / Compound) - 1) * Compound

Q: Find the EAR in each of the following cases. (Do not round intermediate calculations and enter your…

A: An effective annual rate of interest or E.A.R. is the interest which is earned in real times over a…

Question

Compute the DSO for Tokyo Corporation which has the following aging schedule (No decimal point, use whole number):

Account Age Amount Outstanding Average Days

0-30 days P55,000 24

31-60 days 30,000 42

Over 60 days 5,000 66

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 with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Compute the DO for Tokyo Corporation which has the following aging schedule (No decimal point, use whole number):
Carson's Bakery operates on a calendar year end and using the Aging Method. The company presents the following information: Total Amount % Estimated Estimated Number of Days Outstanding 0-30 31-60 61-90 91-120 Receivable Uncollectible Uncollectible 172,000 79,000 51,000 43,000 15,000 360,000 1.00% 200% 5.00% 20.00% Over 120 40.00% TOTALS What is the ending balance in the company's Allowance for Doubtful account? (use a numeric value with a comma and no $ sign) Type your answer..
Following is the aging schedule for Lure Corporation: Account Age Amount Outstanding Average Days 0-30 days $75,000 21 31-60 days $50,000 37 over 60 days $27,000 ? If its DSO is 39 days on average, on what day does Lure Corporation collect from customers who take longer than 60 days to pay for thier purchases?
67. Jansen Company prepares an account receivable aging schedule with a series of computations as follows: 10% of the total peso balance of accounts from 1-60 days past due, plus 15% of the total peso balance of accounts from 61-120 days past due and so on. How would you describe the total of the amounts determined in this series of computations? Group of answer choices It is the amount of uncollected accounts expense for the year. It is the amount of the desired credit balance of the allowance for uncollectible accounts to be reported in the year-end financial statements. When added to the total of accounts written off during the year, this new sum is the desired credit balance of the allowance account. It is the amount that should be added to the allowance for uncollectible accounts at year-end.
Please answer, round off final answers to two decimal places
The following pretax amounts pertain to Han Ae Sook Company for the year ended December 31, 2020: Sales -P800,000; Distribution and administrative costs – P84,000; Other income - P40,000; Interest expense - P4,000; Cost of goods sold – P480,000; Correction of prior period error (credit) – P16,000; Discontinued operations (debit) – P40,000; Cumulative effect of change in accounting policy (credit) – P28,000; Retained earnings, January 1 (not restated) – P160,000; Dividends declared – P12,000; Income tax rate is 30%. How much retained earnings would be shown on December 31, 2020 statement of financial position? А. Р310,400 В. Р335,600 C. P341,200 D. P344,800
The following pretax amounts pertain to Helsinki Company for the yearended December 31, 2021: Sales, P800,000; Distribution andadministrative costs, P84,000; Other income, P40,000; Interest expense, P4,000; Cost of goods sold, P480,000; Correction of priorperiod error (credit), P16,000; Discontinued operations (debit),P40,000; Cumulative effect of change in accounting policy (credit),P28,000; Retained earnings, January 1 (not restated), P160,000; Dividends declared, P12,000; Income tax rate is 30% How much retained earnings would be shown on December 31, 2021 statement of financial position?
Please do not give solution in image format thanku
Subject;
Accounting 9. The accrued obligation at the beginning of the year was $456,000 and the current service cost for the year is $67,000. Assuming an interest factor of 6%, what is the accrued obligation at the end of the year? a. $523,000 b. $389,000 c. $550,360 d. $554,380 10. An example of an experience gain or loss is: a. The actual employee turnover rate is higher than projected. b. The discount rate used for an obligation is increased from 5% to 6%. c. The assumption for salary increases is reduced from 3% to 2.5%. d. The funding method is changed to the accumulated benefit method.
Complete a horizontal analysis for Brown Company. (Negative answers should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Round the "percent" answers to the nearest hundredth percent.) Answer is complete but not entirely correct. BROWN COMPANY Comparative Balance Sheet December 31, 2020 and 2019 Increase (Decrease) 2020 2019 Amount Percent Assets Current assets: Cash 15,750 10.500 5,250 O 50.00 O Accounts receivable 18,000 13,500 4,500 O (3,750) O 9,000 O 15,000 O 33.33 Merchandise inventory 18,750 22,500 Prepaid advertising 16.67 O 54,000 45,000 20.00 Total current assets 106,500 91,500 Plant and equipment 16.39 Building (net) 120,000 Is 126,000 (6,000)O 4.76 0 Land 90,000 90,000 Total plant and equipment 210,000 216,000 (6,000) O 2.78 Total assets 316,500 is 307,500 8,500 2.76 O
Z Company provided the following information pertaining to operating segments for the year ended December 31, 2020: Total revenue: P 80,000,000 Sales to internal customers included in total revenue: P 50,000,000 External revenue reported by reportable operating segments must be at least what amount?