6. Answer questions A and B ezto.mheducation.com/ext/map/index.html?_con3con&external brouMiyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are1/25, net 60. Based on experience, 60 percent of all customers will take the discount.a. What is the average collection period? (Do not round intermediate calculations andround your answer to 2 decimal places, 32.16.)b. If the company sells 1,260 forecasts every month at a price of $2,360 each, what is itsaverage daily balance sheet amount in accounts receivable? (Do not roundintermediate calculations and round your answer to 2 decimal places, e.g.., 32.16.)Average collection perioda.daysb. Average accounts receivable< PrevType here to search

The average collection period in accounts receivable refers to the amount of time it takes for a…

Answered: Miyagi Data, Inc., sells earnings…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

See similar textbooks

Similar questions

These are the quotes from the spot market. Citigroup Credit Suisse Deutsche Bank ¥122/€ ¥126/$ $0.99/€ If you have $1,000,000 to arbitrage, your profit is $_____________ (Please keep at least two decimal places.)
These are the quotes from the spot market. Citigroup Credit Suisse Deutsche Bank ¥126/€ ¥108/$ $1.14/€ If you have $1,000,000 to arbitrage, your profit is $ (Please keep at least two decimal places.) W
choose the letter of the correct answer Log Company’s credit sales are P300,000, and the collection period is 90 days. Cost is 70 percent of selling price. Determine Log's average investment in accounts receivable. a. P32,500.00b. P42,500.00c. P52,500.00d. P62,500.00e. P72,500.00
(Cost of Trade Credit) Calculate the effective cost of the following trade credit terms where payment is made on the net due date. 2/10, net 30 3/15, net 30 Common Stock A Common Stock B Probability Return Probability Return .30 11% .20 25% .40 15% .30 6% .30 19% .30 14% .20 22%
If a credit card you are interested in has an APR of 16%, what would the Daily Periodic Rate (DPR) be? (express your answer as a percent and as a decimal) O.0438% = .000438 O 000438% = .0438 O.16% = .0016 O 1.33% = 1.33
What is the APR if the monthly rate of interest a credit card company charges on outstanding balances is 1.62%? Select one: O a. APR =(1.0162)^12) -1 = 0.2127, and APR = 21.27% O b. APR = ((1.0162)^7) - 1 = 0.1191, and APR = 11.91% O C. APR =((1.0162)^52) - 1 = 1.3063, and APR = 130.63%
CALCULATE THE FORWARD PER ANUM premium OR DISCOUNT. The pound sterling is quoted against the dollar at Spot $1.8000; 3 months forward $ 1.78. My calculation is (Spot-Foward)/Spot (1.78-1.8)/1.78 =-0.011235955*(12/3)= - 0.0449. It is a discount Can you check and advise me, please ?
What is the finance charge?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,443,630, beginning accounts receivable balance of $588,900, and an ending accounts receivable balance of $624,450. A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal places. times days B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day's sales ratio is 180 days? Accounts receivable turnover ratio Sales in receivables ratio a. Millennial Manufacturing collects its accounts more quickly than its competitors. b. A lender may favour Millennial Manufacturing over its competitors because of its faster collection period. c. Without prior years' data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors. d. All of the above statements may be correct.
Toby’s forecasted 2021 financial statements follow, along with some industry average ratios. Calculate Toby’s 2021 forecasted ratios and fill in the above table. Calculate the EPS and DPS. The company has a 40% payout ratio.
For all questions work to 1 decimal place and assume VAT at 19%. You must justify each answer.1.- Make the entry of person requesting a Credit Note for 30% of an Invoice of $1.000 plus VAT, for purchase of forward stocks. 2.- Make the entry for issuer of a Credit Note for 30% of an Invoice of $1,000 plus VAT, for purchase of forward stock. Cost of which had been $600. Assume that stock is reusable.3.- What document should be issued by a supplier who sent more units than those required by his customer and in case the latter would like to keep those excess units. 4.- Under FIFO method, if you sold on credit at a unit price of $20, first 4 units at a cost of $10 each, then 4 units at a cost of $12 each and finally 4 units at a cost of $15 each, what should you record if 6 non-reusable units are returned to you, which you consider normal?5.- For a trading company it is better to buy locally, because if I import and do not sell, I must show the transfers as losses. Comment.
se the following selected financial statement information from Black Water Industries. BLACK WATER INDUSTRIES Year Net Credit Sales Ending Accounts Receivable 2017 $687,430 $332,250 2018 705,290 362,450 2019 769,500 403,650 A. Compute the number of days’ sales in receivables ratios for 2018 and 2019. Round your answers to two decimal places. 2018 fill in the blank 1 days 2019 fill in the blank 2 days B. Using the sales in accounts receivable, choose the statement that most closely describes the company's management of its receivables. a. The company collects its accounts slowly, and the days are increasing. b. This may be leave the company unable to pay current debt owed to a lender. c. The company may need to be more aggressive with its receivable collection procedures. d. All of the above statements may be correct.

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

Principles of Accounting Volume 1

Accounting

ISBN:

9781947172685

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS