Find Debtors turnover ratio and velocity If sales is ₹ 20.00 lakhs, Opening balance of debtors is ₹ 3.00 lakhs,closing balance of debtors is ₹ 5.00 lakhs and number of days in a year is 365
Q: A building acquired at the beginning of the year at a cost of $104,000 has an estimated residual val...
A: Accounting defines depreciation as the systematic reduction of a fixed asset's reported cost until t...
Q: During 2018, Basil Company purchases equipment (7-year property) for $100,000 and decides to take a ...
A: As given the Basil company purchases equipment (7 year property) for $100,000 and decides to take a ...
Q: 1. Based on the following information, days' cash held is closest to: • Revenues = $1,000 • Net inco...
A: Formula: Number of days cash held = ( Cash holdings / Cost of goods sold ) * Number of days in a yea...
Q: In year zero, a corporation acquires P300,000 worth of equipment. It decides to utilize straight lin...
A: Depreciation is a non-cash expense on which a tax shield is created. For calculating the total tax s...
Q: Don Johnson is the management accountant for Cari-Blocks (CB), which manufactures specialty blocks. ...
A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for you...
Q: Six Measures of Solvency or Profitability The following data were taken from the financial statement...
A: Stockholder Equity- The amount invested by shareholders in a company is referred to as stockholders'...
Q: A device that costs P50,000 at the start of the year loses 10% of its value each year. Find out how ...
A: The given question relates to the depreciation topic.
Q: ACC 307 – HW #4 – Chapters 7 and 8 The Beal Manufacturing Company’s costing system has two direct-co...
A: Solution Manufacturing cost is the sum of costs of all resources consumed in the process of making a...
Q: On January 1, 200A, ABC rendered services to XYZ at a price of P450,000. ABC received P500,000 5-yea...
A: ABC delivered services to XYZ at a cost of P450,000, as stated on January 1, 200A. XYZ issued ABC a ...
Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of $...
A: Formula: Times interest ratio = Operating income / Interest expense
Q: Last period Hartig Corporation sold 40.000 units, total sales were $303,000, total variable expenses...
A: Contribution margin ratio = Contribution margin / Sales where, Contribution margin = Sales - variabl...
Q: Help me answer the letter d and e *with solution thank you
A: Degree of Financial leverage = EBIT/EBT Degree of combined Leverage = Operating Leverage x Financial...
Q: What are the salient features and changes in the Government Accounting Manual? What problems or issu...
A: Government accounting manual shows and presents the guidelines and basic accounting policies and pro...
Q: Noel Stewart has estimated that the total fixed costs for his department are £10,000.He also estimat...
A: Lets understand the basics. For calculating fixed cost per unit, we will need to use below formula. ...
Q: A manufacturing firm just received a shipment of 20 assembly parts, of slightly varied sizes, from a...
A: Given information, Total parts = 20 Suitable parts = 15 Non-suitable parts = total - suitable parts ...
Q: Bathrooms and kitchens are typically the most important selling features of s home. Rouse Builders c...
A: Cost-volume-profit (CVP) analysis is a method of cost accounting that looks at the impact that varyi...
Q: Dallas and Weiss formed a partnership to manage rental properties, by investing $164,000 and $246,00...
A: The sharing of profit and loss in accordance with the profit and loss sharing ratio.it completely de...
Q: $200,000, net income of $15,000 and an inventory turnover of 5. What is the times interest ratio if ...
A: Times Interest ratio = Operating Income/ Interest expense = $ 50,000/ $ 10,000 ...
Q: Record each of the following transactions for the Toyota Corporation in general journal form. Assum...
A: Journal Entries- Journal entries refers to the official book of a company which is used to record th...
Q: Are perishable and homogeneous properties alike? How the possibilities of usury should be observed i...
A: Introduction:- Making unethical or immoral monetary loans that unfairly advantage the lender is know...
Q: ExerLight produces two types of exercise treadmils: Regular and Deluxe. The exercise craze and relat...
A: WN1- Calculation of Variable cost per unit: Deluxe Regular Direct material 260 150 Direct ...
Q: On January 1, 200A, ABC Company sells to XYZ, a used transportation equipment, which was acquired at...
A: Note receivable is the instrument that gives a right to the holder of the instrument the right to re...
Q: On January 1, 200A, ABC rendered services to XYZ at a price of P450,000. ABC received P500,000 5-yea...
A: If the notes receivable have a life of less than a year, they are normally listed in the current ass...
Q: Suburban Landscape provides landscaping design and installation for residential and commercial prope...
A: Formula: Degree of operating leverage = Contribution margin / Net operating income
Q: Midlands Inc. had a bad year in 2019. For the first time in its history, it operated at a loss. The ...
A: Breakeven point in terms of amounts is equal to the amount which must be sold to cover the fixed cos...
Q: 25.The current ratio is an example of a Liquidity ratio Group of answer choices True False
A: Current Ratio is a financial ratio that indicates ability of the entity to settle it's short-term ob...
Q: Based on the following information, which of the following is closest to days' sales outstanding? •R...
A: Lets understand the basics. Days sales outstanding shows how many days it takes to convert credit sa...
Q: A five year P1, 000 par value bond pays a 5% annual coupon. Given a YTM of 7%, what is the price of ...
A: Par value of bond (FV) = P 1,000 Coupon rate = 5% Coupon amount (C) = 1000*0.05 = P50 YTM (r) = 7% Y...
Q: QUESTION 1 Identify each of the costs listed below. A. Variable Cost Straight-line depreciation on f...
A: Introduction: A decrease in the value of an asset might be caused by a variety of different variable...
Q: ABC Company has sales of $500,000, COGS of $250,000, operating expenses of $200,000, net income of $...
A:
Q: port for June, the total cost accounted for would be:
A: In the month of june furbish Corporation had ending work in progress unit cost amounted $12,000. Dur...
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Working notes: Selling price per unit = $134 Variable expenses per unit = $67 Contribution per un...
Q: I - PROBLEM SOLVING: Eugene and Alfred are partners in their Ghost Fighting business. Alfred is the ...
A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for y...
Q: Campbell Corporation sells products for $31 each that have variable costs of $18 per unit. Campbell'...
A: Formula: Contribution margin per unit = Selling price per unit - Variable cost per unit
Q: You have just made your first $1,500 contribution to your retirement account. Assume you earn a retu...
A: FV = PV(1 + r)t FV= Future Vale PV = Present Value r= rate of interest t = time in years
Q: nd want to begin te e. ke the decision as
A: 1) pay rate as, =amount of money workers is paid per hour or week work in week =20 hours get paid pe...
Q: Morgan Company issues 10%, 20-year bonds with a par value of $820,000 that pay interest semiannually...
A: Given, Face value = $820,000 Coupon rate = 10%/2 Coupon rate = 5%
Q: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calcula...
A: Solution Concept Formula used Receivables turnover ratio =net credit sales /average accoun...
Q: Krueger Corporation manufactures a single product whose selling price is $134 per unit and whose var...
A: Answer) Calculation of unit sales to earn Target profit of $ 8,450 Unit Sales to earn target Profit ...
Q: The project costs 1,40,000 and has no scrap value after five years. It is depreciated on straight li...
A: It has to be calculated on Return On Average Investment Method Under this method, average investmen...
Q: After the accounts have been adjusted at January 31, the end of the fiscal year, the following balan...
A: Solution A journal is a company's official book in which all business transaction are recorded in c...
Q: A gift store reported the following records for its operation during the month of February. ...
A:
Q: You were engaged by CITY CORPORATION, a publicly held company whose shares are traded on the Philip...
A: Shareholder's Equity Shareholder's equity which consist of ordinary shares and preference shares, Tr...
Q: The following information is made available in relation to the defined benefit plan of Marcos Compan...
A: RECONCILITION OF PLAN ASSETS PARTICULARS PLAN ASSETS FOR YEAR 2022 FAIR VALUE AS ON...
Q: ange in net inter percentage poi
A: Given as, Initial GAP= $100 million, Percentage= 1%.
Q: 12. Assume you have the option to buy one of three bonds. All have the same degree of default risk ...
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...
Q: On January 1, 200A, ABC Company sells to XYZ, 5 used factory equipment, each of which was acquired a...
A: Promissory note is also written as note receivable or note payable in which one party promise to pay...
Q: On January 1, 200A, ABC Company sells to XYZ, a used transportation equipment, which was acquired at...
A: There would be two types of income for the year 200A: The first one is Gain on sale of equipment And...
Q: Required: 1. Compute the following ratios as of the end of 1990 or for the vear ended December 31, 1...
A: The respective ratio calculation with the formula used is given as under.
Q: Each quarter, Luckey Inc., pays a dividend on its perpetual preferred stock. Today, the stock is sel...
A: Calculation of Quarterly Dividend Quarterly dividend = Current Selling price X Annual Required rate ...
Find Debtors turnover ratio and velocity If sales is ₹ 20.00 lakhs, Opening balance of debtors is ₹ 3.00 lakhs,closing balance of debtors is ₹ 5.00 lakhs and number of days in a year is 365.
Step by step
Solved in 2 steps
- Compute Current Ratio and Quick Ratio. If Cash is 1.50 Lakhs, ST Investments are 2.50 Lakhs, Bank is 8.50 Lakhs, Debtors is 5.50 Lakhs, Creditors is 3.50 Lakhs, Outstanding Expenses are 2.50 Lakhs, Bills Reveivables are 5.50 Lakhs, Stock is 7 8.00 Lakhs and Bills Payables are 7 6.50 Lakhs.Earning Before Interest and Tax (EBIT) Re. 25 Lacs. Interest on debt Rs. 10 lacs. Calculate degree of Financial LeverageThe Company has annual turnover of Rs. 25000000 (Of which 60 percent is credit sales). Bad debt is 2 percent of sales. Then how much is the bad debts a. Rs 120000 b. Rs 150000 c. Rs 180000 d. Rs 300000
- Complete the following table: Selling price $231,000, Down payment $46,200, Amount mortgage $184,800, Rate 7.00%, Years 15, Monthly payment $1,661.35. What is the interest and principal on first payment? What is the balance at end of month?Use the following information from an account analysis statement to answer the following questions: • Collected balance = $500,000 • Service charges = $5,000 • Reserve requirement ratio of 10 percent • Days in month = 30 days • Earnings credit rate = 0.60 percent a. Calculate the monthly earnings credit allowance and the net service charges. b. Solve for the collected balances required and interpret the value. c. Suppose that the earnings credit rate is re-negotiated upward to 0.75 percent. Recalculate the earnings credit allowance, net service charge, and collected balance required. * With complete calculationGiven an annual credit sales value of 365 million; accounts receivable beg. 36.5 million, cost of goods sold of 240 million, and beginning inventory of 20 million, how long is the average colelction period? (assume 365 days in a year) a. 30 days b. 55.5 days c. 36.5 days d. 10 days
- Determine Debtors turnover ratio if, closing debtors is GH¢ 40,000, Cash sales is 25% of credit sales and excess of closing debtors over opening debtors is GH¢ 20,000. #randomized OA. 4 times B. 2 times OC. 6 times D. 8 timesWhat is the correct debit/credit entry for... Company borrows $3 million from a bank with interest of 6% per year due and payable in 5 yearsGiven the following, determine the gross of return after interest: Days inventory outstanding (DIO) = 60 Days sales outstanding (DSO) = 45 Days payable outstanding (DPO) = 30 Average markup =19 80% of sales is on credit. All capital is borrowed at 40.4% Assume 365 days of operations. Round your answers to TWO places of decimal.
- If sales is 1600,000 rupees and account receivable is 336000 dollar what will be receivable turnover?The following information was extracted from ABC Ltd’s financial statements for the year ended 31 December 2019. Sales on 30 November 2019 were K100 million and K110 million on 31 December 2019. For the year 2020, sales are expected to double at a constant monthly rate. 80% of the sales made are on account; the remainder on cash. From past experience, 5% of the receivables have turned out to be irrecoverable. Credit customers pay as follows: 75% in the month following the sale; 15% two months after the sale month. Inventory levels are maintained at 20% of the following month’s sales. Accounts payables are at settled at 30 days after purchase. Required: Prepare a collections schedule for the three-month period from January to March 2020.The following information was extracted from ABC Ltd’s financial statements for the year ended 31 December 2019. Sales on 30 November 2019 were K100 million and K110 million on 31 December 2019. For the year 2020, sales are expected to double at a constant monthly rate. 80% of the sales made are on account; the remainder on cash. From past experience, 5% of the receivables have turned out to be irrecoverable. Credit customers pay as follows: 75% in the month following the sale; 15% two months after the sale month. Inventory levels are maintained at 20% of the following month’s sales. Accounts payables are at settled at 30 days after purchase. Required: Prepare a cash forecast for the three-month period from January to March 2020.