Fairview Clinic buys $620,000 in medical supplies each year (at gross prices) from its major supplier, Consolidated Supplies, which offers the clinic terms of 6/10, net 30. What is Fairview Clinic's costly trade credit? (365 days in a year) A. $13,194 B. $39,583 C. $32,986 D. $26,389 E. $22,431
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Fairview Clinic buys $620,000 in medical supplies each year (at gross prices) from its major supplier, Consolidated Supplies, which offers the clinic terms of 6/10, net 30. What is Fairview Clinic's costly trade credit? (365 days in a year) A. $13,194 B. $39,583 C. $32,986 D. $26,389 E. $22,431
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- Give me answer this general accounting questionHome Infusion provides an average of 10 home health visits a day at an average net charge of $119 per visit, for $979 in average daily billings (ADB). They provide services approximately 221 days per year. All services are paid by two third-party payers: One pays for half of the billing 24 days after the service is provided and the second pays for the other half of billings in 9 days. Average cost of debt (i.e. the interest rate on bank loans) is 15%. What is the average accounts receivable balance? (Do not round intermediate calculations and round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $12.3456 should be entered as 12.35.)Home Infusion provides an average of 14 home health visits a day at an average net charge of $94 per visit. They provide services approximately 250 days per year. All services are paid by two third-party payers: One pays for 29 percent of the billing 19 days after the service is provided and the second pays for the remaining billings in 29 days. Average cost of debt (i.e. the interest rate on bank loans) is 3%. What is the average accounts receivable balance? (Round your final answer to 2 decimal places. Omit the "$" sign and commas in your response. For example, $123,456.789 should be entered as 123456.79.) Give typing answer with explanation and conclusion
- H4. Resolute Health buys $600,000 of a particular item (at gross prices) from its major supplier, Cardinal Health, which offers Resolute terms of 2/10, net 30. Currently, the hospital is paying the supplier the full amount due on Day 30, but it is considering taking the discount, paying on Day 10 and replacing the trade credit with a bank loan that has a 12 percent rate. Assume 360 days per year. What is the amount of free trade credit that the organization obtains from Cardinal Health? Format is $xx,xxx.xx What is the total amount of trade credit offered by Cardinal? Format is $xx,xxx.xx What is the approximate annual cost of the costly trade credit? Format is xx.xx% Should the organization replace a portion of the trade credit with the bank loan? Format is Yes or No If the bank loan is used, how much of the trade credit should be replaced? Format is $xx,xxx.xxBumpas Enterprises purchases $4,562,500 in goods per year from its sole supplier on terms of 5/10, net 105. If the firm chooses to pay on time but does not take the discount, what is the effective annual percentage cost of its non-free trade credit? (Assume a 365-day year.) a. 21.35% b. 21.78% c. 17.68% d. 20.22% e. 19.57%Fred's Factory has credit sales of $747,500 and an average accounts receivable balance of $57,500. Fred factors his receivables throughout the year with his local bank at a 2% discount. What is the effective annual rate of this arrangement? Multiple Choice 27.88% 29.24% 28.67% 28.03% 30.04%
- YVONE Trading requests credit terms from its trade supplier, Mestle Corporation. YVONE operates 360 days a year. The trade supplier offers two credit terms to YVONE as follows: Credit term number 1: 2/15, net 30 Credit term number 2: 1/10, net 90 Required: 1. Compute the nominal cost of forgoing the cash discount of the two credit terms. 2. Compute the effective cost of credit of the two terms. 3. If the prevailing bank interest rate is 15% of the nominal rate, which credit term should be bypassed to use the money as the source of financing? Discuss your answer briefly. (with solution)HelpPlease provide correct answer general accounting question
- Hello tutor give correct answerQUESTION: B WORLEY COMPANY BUYS SURGICAL SUPPLIES FROM A VARIETY OF MANUFACTURERS AND THEN RESELLS AND DELIVERS THESE SUPPLIES TO HUNDREDS OF HOSPITALS. WORLEY SETS ITS PRICES FOR ALL HOSPITALS BY MARKING UP ITS COST OF GOODS SOLD TO THOSE HOSPITALS BY 5%. FOR EXAMPLE, IF A HOSPITAL BUYS SUPPLIES FROM WORLEY THAT HAD COST WORLEY $100 TO BUY FROM MANUFACTURERS, WORLEY WOULD CHARGE THE HOSPITAL $105 TO PURCHASE THESE SUPPLIES. FOR YEARS, WORLEY BELIEVED THAT THE 5% MARKUP COVERED ITS SELLING AND ADMINISTRATIVE EXPENSES AND PROVIDED A REASONABLE PROFIT. HOWEVER, IN THE FACE OF DECLINING PROFITS WORLEY DECIDED TO IMPLEMENT AN ACTIVITY-BASED COSTING SYSTEM TO HELP IMPROVE ITS UNDERSTANDING OF CUSTOMER PROFITABILITY. THE COMPANY BROKE ITS SELLING AND ADMINISTRATIVE EXPENSES INTO FIVE ACTIVITIES AS SHOWN BELOW: ACTIVITY COST POOL (ACTIVITY MEASURE) TOTAL COST TOTAL ACTIVITY CUSTOMER DELIVERIES (NUMBER OF DELIVERIES) $500,000 5,000 DELIVERIES MANUAL ORDER PROCESSING (NUMBER OF MANUAL ORDERS)…What is the effective annual percentage cost of its non-free trade credit?