Answered: ] Greene Sisters has a DSO of 20 days.…

] Greene Sisters has a DSO of 20 days. The company's average daily sales are 20,000 dollars. 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

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P: Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35...

See similar textbooks

Related questions

Q: Please provide the accurate answer to this general accounting problem using valid techniques.

A: Step 1: Define Loss on Disposal of AssetWhen a plant asset is discarded without any cash received,…

Q: Please provide the solution to this financial accounting question using proper accounting…

A: Step 1: Define Return on Assets (ROA)Return on Assets (ROA) measures how efficiently a company uses…

Q: what is the degree of operating leverage?? do fast answer please

A: What is the Degree of Operating Leverage (DOL)?The Degree of Operating Leverage measures how a…

Q: I am looking for the correct answer to this general accounting question with appropriate…

A: Step 1: Define Lower of Cost or MarketLower of Cost or Market (LCM) is an accounting rule used to…

Q: managerial accounting

A: Step 1: Definition of Principal RepaymentPrincipal repayment refers to the portion of a loan payment…

Q: Right answer with accounting

A: Expected Return on stock = Risk-Free Rate + Beta*(Market Rate - Risk-Free Rate)8.20% =…

Q: The contribution margin per unit was____.

A: Step 1:Calculation of Total Variable Costs Direct materials: $382,500Direct labor: $276,250Variable…

Q: Answer with accounting question

A: Step 1: Definition of Accrued Interest PayableAccrued interest payable refers to the interest…

Q: What is the ROA ??

A: Return on Assets(ROA) = Net Income/Total Assets Return on Assets(ROA) = 312,500/2,785,000 Return on…

Q: what is company net income ?

A: Step 1: Definition of Net IncomeNet income, also referred to as the "bottom line" or "net profit,"…

Q: Accounting solution

A: Step 1: Definition of Cash Collected from Accounts ReceivableCash collected from accounts receivable…

Q: Financial Accounting

A: Step 1: Define Gross MarginGross margin represents the percentage of revenue that exceeds the cost…

Q: Need your help

A: Concept of SalesSales represent the total revenue a company earns from selling goods or services…

Q: ABC Ltd. purchases machinery for $50,000, with installation charges amounting to $5,000. The company…

A: Computation of Total Capitalized Cost Purchase Cost = $50,000Installation Charge = $ 5,000Transport…

Q: Answer please

A: Step 1: Definition of High-Low MethodThe high-low method is a cost estimation technique used to…

Q: None

Q: what is the unit variable cost ???

A: Step 1: Define Variable Cost per Unit:Variable cost per unit is a crucial concept in cost accounting…

Q: can you help me wits

A: Loan Summary:Loan Amount (Principal) = $120,000Annual Interest Rate = 10%Term = 4 yearsAnnual…

Q: Calculate the ROE for smith manufacturing if they have

A: What is ROE (Return on Equity)?ROE tells us how efficiently a company uses shareholders' equity to…

Q: Can you demonstrate the accurate method for solving this financial accounting question?

A: Step 1: Define Present Value (Initial Deposit)Present Value (PV) is the value today of a sum of…

Q: The total manufacturing costs incurred for the year are $324,000. The overhead cost was 58% of the…

A: Step 1: Definitions Concept of Direct Labor Cost:Direct labor cost refers to the wages paid to…

Q: Mathur Manufacturing uses a job order costing system. During one month, Mathur purchased $188,000 of…

A: Explanation of Job Order Costing System: A job order costing system is a method that tracks costs…

Q: Please explain the solution to this financial accounting problem with accurate explanations.

A: Step 1: Define Market-to-Book Ratio of EquityThe market-to-book ratio of equity compares the market…

Q: Hello tutor provide solution

A: Step 1: Definition of Accounting EquationThe accounting equation is a fundamental concept in…

Q: Please explain the solution to this general accounting problem using the correct accounting…

A: Step 1: Definition of Retained EarningsRetained earnings represent the cumulative amount of net…

Q: I need assistance with this general accounting question using appropriate principles.

A: Step 1: Define Owners' EquityOwners' Equity (also known as Shareholders' Equity or Stockholders'…

Q: Provide correct solution and accounting question

A: Step 1: Definition of Adjusted Gross Income (AGI)Adjusted Gross Income (AGI) is the total income of…

Q: what does the total monthly fixed overhead cost ?

A: Step 1: Definition of Fixed Overhead CostFixed overhead costs refer to the costs that do not change…

Q: Answer this Question

A: Interest = Principal * Rate * TimeInterest = 120,000*9%*(6/12)Interest = $5,400 Total cash paid at…

Q: During FY 2025, Westfield Manufacturing plans to sell Gadgets for $22 a unit. Current variable costs…

A: Step 1: DefinitionsConcept of Break-even Sales:Break-even Sales represent the amount of revenue a…

Q: tableau da 21-2 algo exrcise,compute direct materials variances

A: Step 1: Direct Material Price Variance is the difference between actual price and standard price…

Q: Vanguard Windows manufactures skylights for residential homes. Historically, its demand has ranged…

A: The cycle time for an order is 50 minutes per skylight.

Q: A company carries an average annual inventory of $4.3 million if it estimates the cost of capital is…

A: Explanation of Average Inventory:Average inventory represents the typical value of inventory a…

Q: help me to solve this question

A: Step 1: Definition of Break-Even with Target ProfitBreak-even with target profit calculates the…

Q: Provide correct answer

A: Step 1: Definition of Budgeted Cash CollectionsBudgeted cash collections refer to the projected…

Q: What was the company's revenue for the year?

A: Step 1: Definition of Owner's EquityOwner's equity represents the owner's residual interest in the…

Q: Provide Answer

A: Liquid asset:Liquid assets are assets that can be quickly and easily converted into cash without…

Q: Help

A: Price-to-Earnings ratio (P/E ratio) is a significant finance metric that is used by investors to…

Q: Dura Battery Manufacturers had sales of $870,000 in 2009 and their cost of goods sow represented 63…

A: Explanation of Sales: Sales represent the total revenue generated by a company from selling its…

Q: General accounting question

A: Step 1: Definition of Operating ExpensesOperating expenses are the costs associated with the…

Q: Financial accounting problem

A: Step 1: DefinitionsConcept of Asset Turnover Ratio:Asset Turnover Ratio measures how efficiently a…

Q: Please provide the accurate answer to this financial accounting problem using valid techniques.

A: Step 1: Define Stockholders' EquityStockholders' equity represents the owners' claim after all…

Q: Can you solve this general accounting problem using appropriate accounting principles?

A: Step 1: Definition of Interest ExpenseInterest expense is the cost a borrower incurs for using…

Q: What is the sales volume variance for May ?

A: Step 1: Definition of Sales Volume VarianceSales volume variance measures the difference between the…

Q: what was the firms 2015 operating cash flow (OCF) ?? general accounting

A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) refers to the cash…

Q: Please provide the answer to this general accounting question using the right approach.

A: Step 1: Definition of Employee Benefit RecognitionEmployee benefits like vacation pay and pension…

Q: What would be the effect on income from operations of absorption costing is used rather than…

A: Concept of Variable Costing:Variable costing, also known as direct costing, includes only variable…

Q: provide answer A and B

A: Step 1: Definition of Predetermined Overhead RateThe predetermined overhead rate is a rate used to…

Q: Please explain the solution to this General accounting problem with accurate principles.

A: Let's solve step by step.Given:Units produced: 800Variable overhead per unit: $500We need to find:…

Q: Provide answer

A: We are given:Break-even sales = $950,000Variable expenses = 70% of salesNet loss = $50,000We need to…

Question

What is the level of its accounts receivable? accounting question

]
Greene Sisters has a DSO of 20 days. The
company's average daily sales are 20,000
dollars. 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

Need answer the financial accounting question
please solve this problem
Lalit Lumber Company has sales of $13 million per year, all on credit terms calling for payment within 30 days, and its accounts receivable are $3.45 million. Assume 365 days in the year for your calculations. 1. What is Lalit's DSO? 2. What would DSO be if all customers paid on time? General Account
Medwig Corporation has a DSO of 21 days. The company averages $9,250 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar. $
Medwig Corporation has a DSO of 24 days. The company averages $7, 750 in sales each day ( all customers take credit). What is the company's average accounts receivable? Assume a 365 day year. Round your answer to the nearest dollar. $
Wigmore, Incorporated, has estimated sales of $20,200, $21,825, $20,170, and $21,900 for each quarter next year, respectively. The accounts receivable period is 75 days. What is the expected accounts receivable balance at the end of the second quarter? Assume each month has 30 days. Multiple Choice $3,637.50 $16,833.33 $18.187.50 $16.808.33 $3,361.67
MRK corporation has a DSO of 35 days. The company's annual credit sales are $10 million. What is the level of its accounts receivable? Assume there are 365 days in a year.? Group of answer choices $350 million $958, 904 $400 million $1,369, 863
NEED ALL QUESTIONS. .....
Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35 days, and a payables deferral period of 25 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm’s cash conversion cycle? If annual sales are $4,380,000 and all sales are on credit, what is the firm’s investment in accounts receivable? How many times per year does Negus Enterprises turn over its inventory?
A firm has sales of $1.4 million, and 10 percent of the sales are for cash. The year-end accounts receivable balance is $205,000. What is the average collection period? (Use a 360-day year. Do not round intermediate calculations. Round your final answer to 2 decimal places.) Average collection period days Prev 5 of 10 94 Next >
What is the level of its accounts receivable?
Han Corp's sales last year were $300,000, and its year-end receivables were $49,000. The firm sells on terms that call for customers to pay 30 days after the purchase, but some delay payment beyond Day 30. On average, how many days late do customers pay? Base your answer on this equation: DSO - Allowed credit period = Average days late, and use a 365-day year when calculating the DSO. Assume all sales to be on credit. Do not round your intermediate calculations.