Foster Industries sells on terms of 2/10, net 35. Gross sales last year were $450,000, and accounts receivable averaged $60,000. Half of Foster's customers paid on Day 10 and took discounts.
Q: BC Construction Ltd was the low bidder on a construction project to build a skyscraper for…
A: Gross Profit for 2023:Step 1. Determine the percentage of completion for 2023:Costs incurred in…
Q: Do fast answer of this accounting questions solution
A: Step 1:Define Raw MaterialThe cost of raw material refers to the inventory required to manufacture…
Q: Answer this COST OF GOODS SOLD QUESTION
A: Explanation of Cost of Goods Sold (COGS):COGS refers to the direct costs associated with producing…
Q: Can you please solve these general accounting question without use Ai?
A: Step 1: Define Absorption CostingAbsorption costing is a method used to prepare income statement for…
Q: Hi expart Provide answer the accounting question not use ai
A: Step 1: Define MaturityThe maturity of a market instrument is the date and day when the loan amount…
Q: A company purchased equipment solution this accounting questions
A: Step 1: Define Depreciation ExpenseDepreciation expenses are defined as the expense of a business…
Q: Total factory overhead Costs of $400, 000
A: Explanation of Factory OverheadFactory overhead refers to the indirect costs associated with…
Q: Need help with this question solution general accounting
A: Step 1: Define Free Cash FlowTo compute the free cash flow, the operating cash flow is adjusted for…
Q: Please given accounting question answer
A: Step 1: Define High-Low MethodThe high-low method is a method to analyze mixed costs. This method…
Q: What total manufacturing cost & the unit product cost?
A: Explanation for A: In the given case, we are required to calculate the total manufacturing cost…
Q: Do fast answer and step by step calculation for these general accounting question not use ai please…
A: Step 1: Define High-Low MethodIn accounting, the high-low method and regression analysis are used to…
Q: Klingon cruiseers accounting questions
A: Step 1: Define Net working capitalThe difference between current assets and current liabilities on a…
Q: Arcadia, Incorporated, acquired 100 percent of the voting shares of Bruno Company on January 1,…
A: Approach to solving the question:Requirement A: Prepare Arcadia's Journal Entry on January 1,…
Q: The Cheyenne Hotel in Big Sky, please provide answer the accounting question
A: Step 1: Define High-Low MethodThe high-low method is used to bifurcate the total mixed costs into…
Q: Agrico,inc., provide correct answer please give me general accounting
A: Step 1: Define Notes payableNotes payable are the obligations by the promisor in which the borrower…
Q: Maddox resources has credite given answer accounting questions
A: Explanation for 1: We are required to calculate the amount of average accounts receivable from the…
Q: Batch Costing: find the answer
A: Explanation of Batch Costing:Batch costing is a costing method used to calculate the total cost…
Q: provide answer for this Subject: general account questions
A: Given Data:Inventory Categories: Cameras, Camcorders, DVDsCost Data:Cameras: $10,280Camcorders:…
Q: Please give me answer accounting
A: Step 1: Define DuPont Analysis for Return on InvestmentThe return investment is one of the financial…
Q: Asset Accounting?
A: Option a: This option is incorrect because under group depreciation, depreciation expense is…
Q: Travis Company has just completed a physical inventory count at year-end, December 31 of the current…
A: ParticularsAmount ReasonInventory as of December 31$66,600 Adjustments:Goods sent to customer on…
Q: What is the accounts receivable turnover rate on these accounting question?
A: Step 1: Define Capital Intensity RatioThe capital intensity ratio is a financial metric that…
Q: General Accounting Problem
A: Understand the ProblemMaxiDrive wants to lower its costs to maintain profitability while matching…
Q: [The following information applies to the questions displayed below.] Demarco and Janine Jackson…
A:
Q: Answer
A: Explanation of Appraised Value:Appraised value refers to the estimated market value of an asset,…
Q: The xyz company has offered to supply 10000 solve financial accounting question
A: Given Information:XYZ Company offer: 10,000 units at $18 per unit.Fixed overhead savings: $4 per…
Q: I need answer of this question solution general accounting
A: Step 1: Define Actual Manufacturing OverheadThe actual manufacturing overhead cost is the company's…
Q: Business 123 Introduction to Investment May I please have an expert explore the new phenomena known…
A: Non-Fungible Tokens (NFTs)What Are NFTs?An NFT is a unit of data stored on a blockchain that…
Q: Compute the percentage of total return on financial accounting
A: Step 1: Define Return on EquityReturn on equity (ROE) measures a company's performance from the…
Q: Partner Retirement: Various Cases The capital balances for the partnership of Diaz, Isidro, and…
A:
Q: Please provide correct answer general accounting
A: Step 1: Define Accounts Receivable TurnoverAccounts receivable is a critical component of a…
Q: I want to correct answer general accounting
A: Determine the loss on disposal: Identify the loss incurred from selling the licorice division. In…
Q: Please solve these requirements a and b and give correct answer these general accounting question
A: Step 1: Define Collection PeriodThe time it takes for an entity to collect payments from customers…
Q: Sohar Suppliers Limited, a SAOC firm founded in Sohar in 2015, primarily supplies imported products…
A: 1. a1(b) Explanation of AdjustmentsDisallowed Expenses:Personal travel (RO 50,000), overvalued…
Q: I need correct answer for this accounting Question without using AI
A:
Q: Exercise 11-6 (Algo) Contrasting Return on Investment (ROI) and Residual Income [LO11-1. LO11-2] Tan…
A: Step 1:Return on Investment and Residual Income are widely used for appraising divisional…
Q: How much was the company's ending inventory on this accounting question?
A: Step 1: Define Ending InventoryEnding inventory has three classifications raw materials,…
Q: Rolfe Company (a U.S.-based company) has a subsidiary in Nigeria, where the local currency unit is…
A: 2. Remeasurement Gain or Loss (Functional Currency: USD)If the subsidiary's functional currency is…
Q: Hello tutor please provide this question solution general accounting
A: Step 1: Define Receivables Turnover RatioThe Ratio shows the ability of the company or organization…
Q: Hello tutor provide solution this accounting question
A: Step 1:Under weighted average method of equivalent units calculation , opening inventory completion…
Q: The mocha company has sales solution this question
A: Step 1: Define InvestmentsA company's investments can be classified into short-term and long-term…
Q: provide account answer
A: To prepare the income statement under variable costing for Aces Inc., we need to follow the…
Q: Hii expert please given answer general accounting question
A: Step 1: Define Disposal Of An AssetDisposal of an asset means removing the asset from the business…
Q: Suppose a stock had an intial provide answer accounting questions
A: Calculate the capital gain: Capital gain = Ending price - Initial price = $64 - $52 = $122.…
Q: General Accounting
A: Case InformationStarted in process: 5,000 unitsFinished units: 3,000 unitsEnding WIP: 2,000 units,…
Q: Given answer general accounting
A: Target cost per unit = Selling price per unit * (1 - Desired profit margin)= $48 * (1 - 0.125) = $48…
Q: Which condition triggers special revenue accounting
A: Explanation of Bill-and-Hold Arrangements: Bill-and-hold arrangements are special sales agreements…
Q: Need answer the accounting question not use ai
A: Step 1: Define Total assetsTotal assets refer to all of the valuable possessions a small business…
Q: Need help with this question solution general accounting
A: Step 1: Define Asset DisposalAsset disposal requires recording the profit or loss on an asset's sale…
Q: I want right answer
A: Explanation of Stewardship Accounting:Stewardship accounting is a method of accounting that focuses…
Need answer the accounting question not use
Step by step
Solved in 2 steps
- Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?Grunewald Industries sells on terms of 1/10, net 40. Gross sales last year were $4,453,000 and accounts receivable averaged $427,000. Half of Grunewald's customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewald's nondiscount customers? (Hint: Calculate daily sales based on a 365-day year, calculate the average receivables for discount customers, and then find the DSO for the nondiscount customers.) Do not round intermediate calculations. Round your answers to two decimal places.McDowell Industries sells on terms of 3/10, net 30. Total sales for the year are $912,500; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 40 days after their purchases. What is the day’s sales outstanding? What is the average amount of receivables? What is the percentage cost of trade credit to customers who take the discount? What is the percentage cost of trade credit to customers who do not take the discount and pay in 40 days. What would happen to McDowell’s account receivable if it toughened up on its collection policy with the result that all nondiscount customers paid on the 30th day?
- McEwan Industries sells on terms of 3/10, net 35. Total sales for the year are $1,947,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 74 days after their purchases. Assume 365 days in year for your calculations. a. What is the days sales outstanding? Round your answer to two decimal places. days b. What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest cent. c. What is the percentage cost of trade credit to customers who take the discount? If your answer is zero, enter zero. Round your answer to two decimal places. d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 74 days? If your answer is zero, enter zero. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost: Effective cost: % e. What would happen to McEwan's accounts receivable if it toughened up on its collection policy with…McEwan Industries sells on terms of 3/10, net 20. Total sales for the year are $971,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 90 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to two decimal places. days What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the percentage cost of trade credit to customers who take the discount? If your answer is zero, enter zero. Round your answer to two decimal places. % What is the percentage cost of trade credit to customers who do not take the discount and pay in 90 days? If your answer is zero, enter zero. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost: % Effective cost: % What would happen to McEwan’s accounts receivable if it toughened up on its collection…Murtaugh Manufacturing sells on terms of 2/15, net 40. Total annual sales are $950,000. 40% of the customers pay on the 15th day and take discounts, and the remainder pay, on average, 50 days after their purchases. All sales and receivables are recorded net of discounts, regardless of whether or not discounts are actually taken. What is the firm's accounts receivable balance, based on a 365-day year? Select one: a. $88,526 b. $85,123 c. $93,699 d. $82,708
- Bingo Inc. sells on term 3/20, net 40. Total sale for the year are P1,200,000 on which 40% is cash sales. 30% pays on the 20th day and take discounts while the remaining customers always pay on time. 1. What is the average amount of accounts receivable? (Use 360-day year)d) Inter accounts national Industries sells on terms of 3/10, net 50. Gross sales last year were 5,662,500 and receivable averaged 547,500. Half of International’s customers paid on the 15th day and took discounts. What are the nominal and effective costs of trade credit to International’s non-discount customers? (Hint: Calculate sales/day based on a 360-day year, then calculate average receivables of discount customers and then find the DSO for the non-discount customers.Lux Co. sells on terms 3/10, net 30. Total sales for the year are P900,000. Thirty-five percent of the customers pay on the tenth day and take discounts; the other 65% pay, on average, 45 days after their purchases. What is the average amount of receivables? Use 360 days
- Please Solve This Question International Industries sells on terms of 3/10, net 50. Gross sales last year were 5,662,500 and accounts receivable averaged 547,500. Half of International’s customers paid on the 15th day and took discounts. What are the nominal and effective costs of trade credit to International’s non-discount customers? (Hint: Calculate sales/day based on a 360-day year, then calculate average receivables of discount customers and then find the DSO for the non-discount customers.BaghibenCosplay Unlimited sells 1,040 outfits per year at an average price of $148. The terms of the sale are 1/10, net 35. The discount is taken by 76 percent of customers. What is the company's accounts receivable balance? Assume 365 days per year. $14,759.45 $6,747.18 $8,183.59 $9,620.00 $16,235.40
