Solve this following requirements on these general accounting question Orion Dynamics, Inc., has an average collection period of 30 days. Its averagedaily investment in receivables is $95,000.a. What is the receivables turnover?b. What are the annual credit sales?

Step 1: Define Annual Credit SalesAnnual Credit Sales represent the total revenue generated by a…

Answered: Orion Dynamics, Inc., has an average…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

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ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter3: Evaluation Of Financial Performance

Section: Chapter Questions

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What are annual credit sales ?
What are annual credit sales ? General accounting
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ABCD Corporation has credit sales of $10,960,000 and receivables of $1,260,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 30 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. -Select-YesNoItem 3 , it is days overdue.
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ABCD Corporation has credit sales of $10,290,000 and receivables of $1,560,000. Assume there are 365 days in a year. What is the receivables turnover? Round your answer to two decimal places. What is the average collection period (days sales outstanding)? Round your answer to the nearest whole number. days If the company offers credit terms of 45 days, are its receivables past due? Round your answer to the nearest whole number. Enter zero if the receivables are not past due. , it is days overdue.
What is the number of days sales in receivable?
An FI has estimated the following annual costs for its demand deposits: management cost per account = $150, average account size = $1600, average number of cheques processed per account per month = 75, cost of clearing a cheque = $0.10, fees charged to customer per cheque = $0.05, and average fee charged per customer per month = $15. (a) What is the implicit interest cost of demand deposits for the FI? (b) If the FI has to keep an average of 8 per cent of demand deposits as required reserves with the RBA paying no interest, what is the implicit interest cost of demand deposits for the FI? (c) What should be the per-cheque fee charged to customers to reduce the implicit interest costs to 3 per cent? Ignore the reserve requirements.

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Orion Dynamics, Inc., has an average collection period of 30 days. Its average daily investment in receivables is $95,000. a. What is the receivables turnover? b. What are the annual credit sales?