Answered: Furry Enterprises has a DSO of 30 days.…

Furry Enterprises has a DSO of 30 days. The company's average daily sales are $25,000. What is the level of its accounts receivable? Assume there are 365 days in a year.

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter7: Analysis Of Financial Statements

Section: Chapter Questions

Problem 1P: Greene Sisters has a DSO of 20 days. The companys average daily sales are 20,000. What is the level...

See similar textbooks

Related questions

Q: Silverstone would report profit at?

A: Explanation of Standard Gross Profit:Standard gross profit is the expected profit calculated based…

Q: not use ai solve this question do fast

A: Identifying the Highest and Lowest Units Produced (Activity Level) Highest Units Produced: 10,400…

Q: Cash flows for the year would be

A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the direct expenses…

Q: What is this firmws WACC?

A: To calculate the firm's Weighted Average Cost of Capital (WACC), we use the formula:WACC = (E/V) ×…

Q: WHAT IS NARU'S OPERATING LEVERAGE ?

A: Operating leverage is calculated using the degree of operating leverage (DOL) formula: DOL=Net…

Q: Need help with this question solution general accounting

A: Step 1: Definition of Shareholders' EquityShareholders' equity represents the residual interest in a…

Q: ANSWER?

A: Return on Assets (ROA) Calculation for the Current Year ROA is calculated using the formula:…

Q: Assuming no safety stock, what is the re-order point (R) given an average daily demand of 65 units,…

A: The reorder point (R) is an essential component of inventory management that assists firms in…

Q: Assume Newcome pays no taxes on this project.??

Q: What is the value of total assets?

A: Explanation of Total Liabilities: Total liabilities represent the complete financial obligations of…

Q: Compute the company cost of goods sold

A: Given:Merchandise inventory (beginning of the year): $120 millionMerchandise inventory (end of the…

Q: A B CORRECT ANSWER PLEAS

A: Step 1: Calculation of Gross ProfitGross profit is the difference between the revenue and the cost…

Q: Your fim's DSO is

A: Days Sales Outstanding (DSO) is calculated using the formula:DSO = (Accounts Receivable Balance) ÷…

Q: Can you help me of this general accounting question

A: Step 1: Define Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) measures how…

Q: hi expert please help me

A: Step 1: Definition of Owners' EquityA balance sheet is a financial statement that shows the sources…

Q: Help

A: Step 1: DefinitionsCosting - Costing is the process of determining the total expenses involved in a…

Q: rattan on assets?

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…

Q: Accurate Answer

A: Concept of Contribution MarginThe Contribution Margin represents the amount remaining from sales…

Q: Overhead applied to production totaled.

A: Step 1: Calculation of Predetermined Overhead Application RateStep 2: Calculation of Overheads…

Q: Serfass Corporation's contribution format income statement for July appears below: Sales Variable…

A: Step 1: Definition of Degree of Operating LeverageThe degree of operating leverage (DOL) measures…

Q: Hatfield Corporation, which has only one product, has provided the following data concerning its…

A: Step 1: Definition of Period Cost in Variable CostingPeriod costs under variable costing include all…

Q: Can you help me with accounting questions

A: Step 1: Definition of Expected Market Price Using P/E RatioThe expected market price of a stock is…

Q: ??

A: Step 1: DefinitionsRevenue - Revenue is the total income generated from the sale of goods or…

Q: Westerville Company accumulates the following data concerning a mixed cost, using units produced as…

A: Step 1: Definition of the High-Low MethodThe High-Low Method is a cost estimation technique used to…

Q: Please need answer the financial accounting question

A: Step 1: a) As the materials costs are the responsibility of the purchasing manager, the Materials…

Q: Its days' sales uncollected equals

A: Step 1: Definition of Sales uncollectedSales uncollected is what most financiers use to estimate…

Q: please give me true answer

A: Step 1: Calculation of Contribution Margin per unitContribution Margin per unit = Selling price per…

Q: Make an Excel spreadsheet to compute gross wages due each employee under federal wage-hour law. See…

A: Understanding the Wage Calculation ProcessFederal wage-hour law requires that employees be paid a…

Q: On January 1, 2015, Carlisle Enterprises reports net assets of $920,500, although equipment (with a…

A: Explanation of Patent Amortization:Patent Amortization refers to the systematic allocation of a…

Q: Company's statement of cash flows for the year would be?

A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) refers to the direct costs…

Q: How much must mary include in her gross income in year 1?

Q: Waiting for your solution general accounting question

A: Step 1: Define Rate of Return on Common Stockholders' EquityThe rate of return on common…

Q: General accounting

A: Step 1: Define Accounting EquationThe accounting equation isAssets represent the total resources of…

Q: His AGI is $41,000, he itemizes deductions, and his marginal tax rate is 15 percent.

A: Step 1: Definition of Itemized DeductionsItemized deductions are specific expenses that taxpayers…

Q: Tip Top Coro ABC Answer

A: Step 1: Definition of Labor VarianceA labor variance measures the effectiveness of a company in…

Q: budgeted indirect cost allocation rat fore this activity?

A: Step 1: Definition of Cost AllocationMost production companies today have different service…

Q: Silvar Manufacturing applies overhead using a normal costing approach based on machine-hours. The…

A: Explanation of Normal Costing: Normal costing is a cost accounting method that applies overhead to…

Q: Brightwood Furniture provides the following financial data for a given period: Sales Amount ($) Per…

A: Let's solve the questions step by step. Part a: Contribution Margin (CM) Ratio The CM ratio is…

Q: I don't need ai answer general accounting question

A: Step 1: Definition of Total Manufacturing CostsTotal Manufacturing Costs refer to the sum of all…

Q: ydyiditd

A: The Bank Portfolio Simulation Worksheet - Round 1 requires you to allocate $1,000,000 in equity…

Q: A cosmetic manufacturer provides the following production data for the year: Work-in-process (WIP)…

A: Step 1: Definition of Equivalent Unit Cost for MaterialsEquivalent unit cost for materials refers to…

Q: Please give me correct answer this financial accounting question

A: Step 1: Define Over/Under-Applied Manufacturing OverheadOver-applied or under-applied manufacturing…

Q: What is the company's cost of goods manufactured for the year of this general accounting question?

A: Step 1: Define Cost of Goods Manufactured (COGM)The Cost of Goods Manufactured (COGM) is the total…

Q: Solve this Accounting Problem

A: Calculation of the Total Cost of the MachineTotal Cost of the Machine = Purchase price + shipping…

Q: What is dant's gross profit at standard?

A: Explanation of Gross Profit at Standard: Gross profit at standard represents what a company's gross…

Q: What is the unit variable cost?

A: Step 1: Analysis of information givenHighest activity (April): 110,000 miles, $270,000Lowest…

Q: What is net cash provided by operations ?

A: Step 1: Explanation for each item given in the questionNet Income: Starting point for cash flow…

Q: What is Michael's basis in the partnership ?

A: Explanation of Partnership Basis: Partnership basis represents a partner's investment in the…

Q: capital gains this taxable income

A: Step 1: Definition of Capital GainCapital gain refers to an appreciation in the value of a security…

Q: what is the total net gain or loss on this transaction?

A: The price of a T-bill futures contract is quoted as 100 minus the annualized discount yield. The…

Question

What is level of accounts receivable?

Furry Enterprises has a DSO of 30
days. The company's average daily
sales are $25,000. What is the level
of its accounts receivable? Assume
there are 365 days in a year.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

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?
Gear Up Co. pays 65% of its purchases in the month of purchase, 30% in the month after the purchase, and 5% in the second month following the purchase. What are the cash payments if it made the following purchases in 2018?
Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?
Suppose the company has just the opposite news and now expects unit sales for August, September, and October to be double (200%) the original estimates. What effect will this have on the company’s net income and borrowing? Explain your findings.
The Kretovich Company had a quick ratio of 1.4, a current ratio of 3.0, a days’ sales outstanding of 36.5 days (based on a 365-day year), total current assets of $810,000, and cash and marketable securities of $120,000. What were Kretovich’s annual sales?
South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales for the year are $769,346. The balance at the end of 2017 was $325,300. What is the accounts receivable turnover rate for 2018 (rounded to two decimal places)? A. 2.02 times B. 2.25 times C. 2.15 times D. 1.13 times
A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an annual interest rate of 11%. If 6 months have passed since note establishment, what would be the recorded interest figure at that time? A. $7,150 B. $65,000 C. $14,300 D. $2,383
If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the next eight years, how much will be accounted for as a current portion of a noncurrent note payable each year?
Strickler Technology is considering changes in its working capital policies to improve its cash flow cycle. Stricklers sales last year were 3,250,000 (all on credit), and its net profit margin was 7%. Its inventory turnover was 6.0 times during the year, and its DSO was 41 days. Its annual cost of goods sold was 1,800,000. The firm had fixed assets totaling 535,000. Stricklers payables deferral period is 45 days. a. Calculate Stricklers cash conversion cycle. b. Assuming Strickler holds negligible amounts of cash and marketable securities, calculate its total assets turnover and ROA. c. Suppose Stricklers managers believe the annual inventory turnover can be raised to 9 times without affecting sale or profit margins. What would Stricklers cash conversion cycle, total assets turnover, and ROA have been if the inventory turnover had been 9 for the year?
Brandt Corporation had sales revenue of 500,000 for the current year. For the year, its cost of goods sold was 240,000, its operating expenses were 50,000, its interest revenue was 2,000, and its interest expense was 12,000. Brandts income tax rate is 30%. Prepare Brandts multiple-step income statement for the current year.