Please give me true answer this financial accounting question Henderson Corp. reports sales of $12,000,000 for 2023 with agross profit margin of 45%. 25% of its sales are on credit.ItemAccounts Receivable (AR) $180,000InventoryAccounts Payable (AP)2022 ($)2023 ($)$200,000$950,000 $1,050,000$1,200,000 $1,300,000Calculate the accounts receivable days outstanding at the end of2023 using the year-end receivable balance.

Step 1: Define Accounts Receivable Days Outstanding (DSO)Days Sales Outstanding (DSO) is a financial…

Answered: Henderson Corp. reports sales of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

Net credit sales: 910000, Accounts receivable:85000
Monthly average accounts receivable:480000, net sales on account:5750000
Using the information provided below:Rubialac PaintsSelected Income Statement Items, 2020Cash Sales $2,500,000Credit Sales $9,500,000Total Sales $12,000,000COGS 7,000,000 Rubialac PaintsSelected Balance Sheet Accounts12/31/2020 12/31/19 ChangeAccounts Receivable $550,000 $400,000 $150,000Inventory $275,000 $250,000 $25,000Accounts Payable $150,000 $110,000 $40,000 What is the inventory turnover for Rubialac Paints? What is the average production cycle for the firm? What is the average collection cycle? What could Eagle Paints do to reduce the average collection cycle?
Memphis Co. reported the following information for 2021: Sales revenue: $780,000 Interest revenue on note receivable: $4,500 Cost of goods sold: $525,000 Operating expenses: $82,500 Gain on sale of equipment: $105,000 On a multiple-step income statement, Memphis would report other income of: Question 14 options: $109,500 $277,500 $4,500 $105,000 Super Ltd. reported the following select account balances in its trial balance as at December 31, 2020: Accounts receivable $ 150,000 Accounts payable 65,000 Accumulated depreciation 125,000 Cash 30,000 Equipment 250,000 Income tax payable 5,000 Inventory 95,000 Mortgage payable (in 5 years) 175,000 Common shares 200,000 What is Super Ltd.'s current ratio on December 31? Question 15 options: 3.93 1.63 4.23 1.46
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)
Calculate accounts receivable turnover
Hamad Corporation's total sales for 2022 were AED 800 million, and gross profit was AED 100 million, current assets AED 200 , cash AED 10 million, accounts receivables 90 million and account payable 40 million. Calculate accounts payable days , collection period, inventory days and accounts payable turn over.
Fill in thr blanks on the table below and show the formulas used for each value Dayton, Inc. Annual Income Statement (Values in Millions) Common Size 2019 2018 2019 2018 Sales $ 178,909 $ 187,510 100.0% 100.0% Cost of Sales 111,631 59.5% Gross Operating Profit $ 75,879 40.5% Selling, General & Admin. Expense 12,900 6.9% Other Expenses 33,377 17.8% EBITDA $ 29,602 15.8% Depreciation & Amortization 7,944 4.2% EBIT $ 21,658 11.6% Other Income, Net 3,323 1.8% Earnings Before Interest and Taxes $ 24,981 13.3% Interest Expense 293 0.2% Earnings Before Taxes $ 24,688 13.2% Income Taxes 5,184 0.21 tax rate Net Income Available to Common $ 19,504 10.4% Dividends per share $ 1.15 $ 0.91 EPS…
Vikrambahi
A company has the following items for the fiscal year 2020: Cash = 2 million Marketable securities = 3 million Account receivables (A/R) = 1.5 million Inventories = 8.5 million Total current liabilities = 8 million Calculate the company’s current ratio and quick ratio
The following condensed information is reported by Beany Baby Collectibles. 2024 2023 Income Statement Information Sales revenue $13,020,000 $9,000,000 Cost of goods sold 8,436,960 6,500,000 Net income 394,320 308,000 Balance Sheet Information Current assets $1,660,000 $1,560,000 Long-term assets 2,260,000 1,960,000 Total assets $3,920,000 $3,520,000 Current liabilities $1,260,000 $960,000 Long-term liabilities 1,440,000 1,440,000 Common stock 860,000 860,000 Retained earnings 360,000 260,000 Total liabilities and stockholders' equity $3,920,000 $3,520,000
How can this be worked out ?

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