PeeWee's Toys enjoys annual sales of $5,850,000, 75% are on credit. The firm has $525,000 in Accounts Receivable. Compute the average collection period.
Q: Financial accounting
A: Step 1: Define Bonds PayableThe financial obligation of the issuer toward the bondholders for the…
Q: Please provide this question solution general accounting
A: Weighted Average Cost of Capital (WACC) = 11% or 0.11Cost of Equity (Re) = 13% or 0.13Pretax Cost of…
Q: Please need answer the general accounting question
A: Step 1: Define Unit Product CostThe unit product cost of a manufactured product is the sum of its…
Q: The December 31, 2024, inventory of Tog Company, based on a physical count, was determined to be…
A: - Understated inventory at year-end overstates COGS, which understates net income. By fixing the…
Q: Lone star has computed the following unit costs solution this question
A: Step 1: Define Variable CostingThe variable costing income statement only considers the variable…
Q: Please need answer
A:
Q: Accounting question
A: STEPS: Return on Equity (ROE):Step 1: Calculate the ROE formula• ROE = (Net Income / Common Equity)…
Q: Proust company has fcff of $1.7 billion solve this question?
A: The problem pertains to the valuation of equity using FCFF and FCFE approach. There are two main…
Q: Sperberg corporation operating leverage solution this question
A: The problem pertains to operating leverage. Operating leverage is a cost-accounting formula (a…
Q: A company has a dividend payout ratio solve this question
A: Step 1: Calculate the Dividend Discount Model (DDM)The formula for the price of a stock based on…
Q: Need help with this general accounting question not use ai
A: Step 1: Define Credit PolicyA company's credit policy indicates how cash should be collected from…
Q: I need answer of this question solution general accounting
A: Explanation: In the given case, we are required to calculate the amount of net income from the given…
Q: At Jaymes Company, it costs $32 per unit... Please provide answer the general accounting question
A: Step 1: Define Process CostingWith this costing approach, the cost of mass production is calculated…
Q: Condensed data from the comparative statement of financial position of Vermillion Inc. follow: 2024…
A: First, we need to calculate the percentage of a base-year amount for each item using 2022 as the…
Q: Accural accounting?
A: Step 1: Analyze the given transactions.Sales of $4,500 on accountthe $4,500 sales sold on account…
Q: In 1994, Coronado Limited completed the construction of a building at a cost of $1.59 million; it…
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Each month, haddon company solve this question solution accounting
A: Step 1: Define MarkupMarkup is usually the percentage used to price a product to determine its…
Q: A company reports the following: please need answer the accounting question
A: Step 1: Define Accounts ReceivableThe company's efficiency in managing accounts receivable can be…
Q: Calculate the wages payable to workers.
A: Step 1:Calculate wages based on piece rateStep 2:Apply the minimum wage guaranteeStep 3:Determine…
Q: Accounting question please provide answer
A: Step 1: Define Activity-Based Costing (ABC) MethodThe manufacturing overhead costs are common costs…
Q: Please answer the photo attached note; i attached lesson that u can use as reference in answering
A: To calculate the external financing needed (EFN) for Donald Inc., we can follow these steps:Step 1:…
Q: I want to correct answer general accounting
A: Step 1: Define Inventory ManagementThe inventory for a firm may be broadly categorized into raw…
Q: Actual Cost of Direct Materials $ 225,000 Standard Cost of Direct Materials $ 224,800 Actual…
A: The materials price variance is calculated as the difference between the actual cost of materials…
Q: In a one page reflection discuss the significance of privacy, fairness, and compliance with laws and…
A: Reflection on Privacy, Fairness, and Compliance in Data Collection and UsageIntroductionThe…
Q: Journal Entry: Highland Corporation's trial balance shows debit total $240,000 exceeding credit…
A: Explanation of Trial Balance: This is a bookkeeping worksheet that lists all the accounts and their…
Q: Provide Solution
A: Explanation of Cost of Common Equity: Cost of common equity represents the return that a company…
Q: Milton company uses a standard cost system given answer accounting questions
A: Step 1: Define Direct Labor Efficiency VarianceThe direct labor efficiency variance is a…
Q: answer
A: Step 1: Calculate the total overhead costMultiply the direct labor hours by the predetermined…
Q: Financial Accounting
A: Step 1: Start with Inventory Turnover Ratio formula:• Inventory Turnover Ratio = COGS ÷ Average…
Q: What is the average collection period for accounts receivable in days on these financial accounting…
A: Step 1: Define Average Collection PeriodThe average collection period shows the number of days…
Q: None
A: Step 1: Calculate Gain or Loss on Sale of Assets• For Building: Sales Price - Book Value• For…
Q: Tutor need your help
A: Explanation of Economic Order Quantity (EOQ): Economic Order Quantity is a formula that determines…
Q: I need answer of this question solution
A: The formula is:Weighted Average of Debt=Total Market Value of Debt + EquityMarket Value of…
Q: On 1 January 2011, Y Ltd purchased a new machine for $500,000. Please need answer the general…
A: Step 1: Define Depreciation MethodThe depreciation method allows charging the expense on an asset…
Q: A company reports inventory using the lower of cost or market method. Please need answer the general…
A: Step 1: Define Inventory ValuationInventory is the account used for the goods that the company in…
Q: How much did Johnson and Johnson's earned revenues exceed its incurred expenses during the most…
A: In Q3 2024, Johnson & Johnson's revenue breakdown by segment highlights its diversified…
Q: final answe4 needed expert please on it fast
A:
Q: What is the maturity
A: To calculate the maturity value of a note, you can use the formula: Maturity…
Q: Please provide answer the general accounting question
A: Step 1: Define AssetAn asset is anything or property managed or held by a business or an…
Q: Please given answer financial accounting
A: The problem requires the determination of the cost of equity. Two methods that can be utilized to…
Q: Want explanation of this from expert
A: Explanation of Management's Role: Management is responsible for overall decision-making and setting…
Q: Kubin company relvant range of proction accounting questions
A: Explanation: In the given case, we are required to calculate the product cost to make 17,250 units…
Q: CIS 133 Advanced Micro Spreadsheet Software May I please have a written review for a tutor that has…
A: Here's a step-by-step explanation of the detailed review for your tutor:IntroductionThe review…
Q: Set the answers to zero decimal places.
A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…
Q: Net Salary?
A: Net Salary Payable = Gross Salary - Income Tax Deducted - Insurance Premium Net Salary Payable =…
Q: i want to answer of this Question of Accounting Subject please solve it fast as posible
A: Step 1: Definition of Freight Cost:Freight is the charges paid by the company for facilitating the…
Q: What is the amount of the net fixed assets on these general accounting question?
A: Step 1: Define Fixed AssetsFixed assets refer to tangible assets or equipment that a business uses…
Q: La more company had the following transaction solution this question
A: Step 1: Define Accrual AccountingAn accrual accounting system considers the earnings a business…
Q: Need help with this question solution general accounting
A: Step 1:Given,Dividend payout ratio: 0.7Required rate of return: 10%Expected growth rate: 5% Step…
Q: Exercise 11-3 (Static) Accounting for par, stated, and no-par stock issuances LO P1 Rodriguez…
A: Formula:Part 1: When Stock is issued at par of $2, the remaining amount is credited to paid-in…
Financial Accounting
Step by step
Solved in 2 steps
- Libscomb Technologies' annual sales are $6,974,991 and all sales are made on credit, it purchases $3,511,535 of materials each year (and this is its cost of goods sold). Libscomb also has $550,869 of inventory, $522,928 of accounts receivable, and $477,584 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Turnover?Libscomb Technologies' annual sales are $5,790,872 and all sales are made on credit, it purchases $3,221,342 of materials each year (and this is its cost of goods sold). Libscomb also has $539,653 of inventory, $498,477 of accounts receivable, and $416,602 of accounts payable. Assume a 365 day year. What is Libscomb’s Inventory Period (in days)?Grunewald Industries sells on terms of 1/10, net 40. Gross sales last year were $4,453,000 and accounts receivable averaged $427,000. Half of Grunewald's customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewald's nondiscount customers? (Hint: Calculate daily sales based on a 365-day year, calculate the average receivables for discount customers, and then find the DSO for the nondiscount customers.) Do not round intermediate calculations. Round your answers to two decimal places.
- Libscomb Technologies' annual sales are $6,750,624 and all sales are made on credit, it purchases $3,062,806 of materials each year (and this is its cost of goods sold). Libscomb also has $571,915 of inventory, $1,475,000 of accounts receivable, and $1,400,000 of accounts payable. Assume a 365 day year. What is Libscomb’s Receivables Period (in days)?GanMurtaugh Manufacturing sells on terms of 2/15, net 40. Total annual sales are $950,000. 40% of the customers pay on the 15th day and take discounts, and the remainder pay, on average, 50 days after their purchases. All sales and receivables are recorded net of discounts, regardless of whether or not discounts are actually taken. What is the firm's accounts receivable balance, based on a 365-day year? Select one: a. $88,526 b. $85,123 c. $93,699 d. $82,708
- Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What is the average collection period? Thompson Wood products have credit sales of $2,160,000 and accounts receivable of $288,000. Compute the value of the average collection period. Lone Star Petroleum Co. has annual credit sales of $2,880,000 and accounts receivable of $272,000. Compute the value of the average collection period. Knight Roundtable Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. Darla’s Cosmetics has annual credit sales of $1,440,000 and an average collection period of 45 days in 2010. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average…Sanders Prime Time Company has annual credit sales of $1,800,000 and accounts receivable of $210,000. Compute the value of the average collection period.Thompson Wood Products has credit sales of $2,628,000 and accounts receivable of $627,800. Compute the value of the average collection period. (Use a 360-day year.) Average collection period days
- TMRW Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2010. Assume a 360-day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period. XYZ company has annual credit sales of $1,440,000 and an average collection period of 45 days in 2005. Assume a 360 day year. What is the company’s average accounts receivable balance? Accounts receivable are equal to the average daily credit sales time the average collection period. Haru company has an average collection period of 35 days. The accounts receivable balance is $105,000. What is the value of its credit sales?McEwan Industries sells on terms of 3/10, net 35. Total sales for the year are $1,947,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 74 days after their purchases. Assume 365 days in year for your calculations. a. What is the days sales outstanding? Round your answer to two decimal places. days b. What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest cent. c. What is the percentage cost of trade credit to customers who take the discount? If your answer is zero, enter zero. Round your answer to two decimal places. d. What is the percentage cost of trade credit to customers who do not take the discount and pay in 74 days? If your answer is zero, enter zero. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost: Effective cost: % e. What would happen to McEwan's accounts receivable if it toughened up on its collection policy with…Libscomb Technologies' annual sales are $6,615,140 and all sales are made on credit, it purchases $4,071,988 of materials each year (and this is its cost of goods sold). Libscomb also has $553,442 of inventory, $521,646 of accounts receivable, and beginning and ending of year $448,048 and $420,069 accounts payables (respectively). Assume a 365 day year. What is Libscomb’s Cash Cycle (in days)?
