Tech Solutions Inc. has net sales on account of $2,400,000. The average net accounts receivable are $840,000. Calculate the days' sales in receivables. (Round your answer to two decimal places.) a. 127.75 days b. 2.86 days c. 365.00 days d. 438.10 days

Tech Solutions Inc. has net sales on account of $2,400,000. The average net accounts receivable are $840,000. Calculate the days' sales in receivables. (Round your answer to two decimal places.) a. 127.75 days b. 2.86 days c. 365.00 days d. 438.10 days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Related questions

Q: Compute the required purchase for April

A: Explanation of Cost of Goods Sold (COGS):Cost of Goods Sold (COGS) represents the direct costs…

Q: Get correct answer general accounting question

A: On the balance sheet of Delta Airlines at December 31, 2024, the $60 million debt would be…

Q: What is bicket's 2013 return on common stockholders equity?

A: 1. Calculate Preferred Stock Dividends:Preferred Stock Dividends = (Number of Shares * Par Value) *…

Q: Gnomes R Us just paid a dividend of $3.22 per share. The company has a dividend payout ratio of 64…

A: Earning Per Share = Dividend Per Share/Dividend Payout RatioEarning Per Share = 3.22/64%Earning Per…

Q: What is this company's manufacturing cycle efficiency??

A: Approach to solving the question:Freeform Detailed explanation: The Manufacturing Cycle Efficiency…

Q: Sub general account

A: To calculate the Return on Equity (ROE) for John Wick Company, we can use the DuPont formula: ROE =…

Q: XYZ Company accumulates the following data relative to jobs started and finished during the month of…

A: Explanation: The formula to calculate total material variance is as follows:Total materials variance…

Q: The following are budgeted data: January February March Sales in units 15,300 20,600 18,300…

A: Required Raw Material Purchases = Raw Materials Needed for Production + Desired Ending Inventory −…

Q: not use ai solution given answer General accounting question

A: Steps to Solve:1.Determine the Predetermined Overhead Rate (POHR): The POHR is based on estimated…

Q: A new product, an automated crepe maker, is being introduced at Knutt Corporation. At a selling…

A: Step 1:Calculate the revenue as follows:Revenue = Units sold * Selling price = 85000…

Q: Consider the information given in the table below. Calculate the gross profit. Salaries expense…

A: To calculate Gross Profit, we use the formula: Gross Profit=Net Sales−Cost of Goods Sold (COGS)…

Q: Accounting question

A: The question requires the calculation of the expected return of stock.The expected return is the…

Q: Determine the shares outstanding once the debt is issued

A: Step 1: Determine the Total Market Value of the FirmThe firm is currently all-equity financed,…

Q: The Fischer Corporation uses a standard costing system. The following data have been assembled for…

A: Step 1: Analysis of information givenLabor efficiency variance = $2,800 unfavorableStandard direct…

Q: The Aakash Company forecasts that total overhead for the current year will be $17,000,000 and total…

A: To calculate the predetermined overhead rate, we use the formula: Predetermined Overhead Rate =…

Q: A local merchandiser purchases inventory that it subsequently sells to customers. During the month…

A: Explanation: In the given case, we are required to calculate the product cost per unit from the data…

Q: Abc

A: Step 1: Define Asset TurnoverThe financial ratio of asset turnover compares the sales revenue with…

Q: None

A: Step 1: Identify Given DataInitial Investment (Cost of Receivables): $185,000Amount Collected:…

Q: Hello teacher please help me this question general accounting

A: Step 1: Definition of Cost of Goods Manufactured (COGM)Cost of Goods Manufactured (COGM) is the…

Q: Need answer

A: Explanation of Cost Allocation:Cost allocation is the process of assigning indirect costs, such as…

Q: At an output level of 19,500 units, you have calculated that the degree of operating leverage is…

A: Explanation of Degree of Operating Leverage (DOL):The degree of operating leverage (DOL) measures…

Q: I am waiting for answer

A: Explanation of Common Stock Outstanding: Common stock outstanding represents the total number of…

Q: Calculate the depreciation expense

A: Step 1: Depreciation rate Depreciation rate = (Original cost - Salvage value)/Estimated number of…

Q: Need answer

A: Explanation of Net Realizable Value (NRV) Method:The Net Realizable Value (NRV) method is a way to…

Q: Allocotade corporate overhead:90000

A: Segment contribution margin = Segment sales revenue - Segment variable costs Segment variable costs…

Q: None

A: The question pertains to the degree of operating leverage. The degree of operating leverage (DOL) is…

Q: What is the return on equity????

A: To calculate the Return on Equity (ROE), you can use the following formula:ROE = ( Net Income /…

Q: Tools-N-Time has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2,000 units,…

A: Concept of Standard Labor HoursStandard labor hours represent the predetermined time it should take…

Q: Compute the following for the Colorado??

A: Step 1: Definition of Segment Profit MarginThe Segment Profit Margin measures the profitability of a…

Q: At Accustart, the standard quantity of labor is 25 hours per refrigeration unit. The standard wage…

A: Explanation of Labor Rate Variance:Labor rate variance is the difference between the actual wage…

Q: The net income of the year?

A: Explanation of Owner's Equity: Owner's equity represents the owner's financial interest or net worth…

Q: Duggan companies manufacturing overhead rate for the year?

A: Calculation of the Manufacturing Overhead for the yearManufacturing Overhead for the year =…

Q: provide general account

A: The product costs are the costs directly associated with producing goods, which include direct…

Q: Expert Need your advice

A: Approach to solving the question: Detailed explanation: Examples: Key references:

Q: Solve this general accounting question

A: Explanation of Price-Taker: A price-taker is a company that must accept the prevailing market price…

Q: ?!

A: Explanation of Sales Revenue: Sales revenue represents the total amount of money generated from…

Q: You believe the expected return on ABC is 16.20%, and that the variance of ABC's returns is 0.6400.…

A: Understanding the Coefficient of Variation (CV)The coefficient of variation (CV) is a statistical…

Q: provide correct answer of this Accounting question

A: To calculate the expected return on the stock using the Capital Asset Pricing Model (CAPM), use the…

Q: Overhead rate for the year

A: To calculate the predetermined overhead rate (POHR), we use the following formula: POHR = Estimated…

Q: How to calculate the gross profit based

A: To calculate the Gross Profit, we can use the following formula: Gross Profit = Sales - Cost of…

Q: Financial accounting question

A: Step 1: Define Debt-to-Equity RatioThe Debt-to-Equity Ratio measures a company's financial leverage…

Q: Help with this accounting problem

A: Explanation of Purchase Price: The purchase price of $525,000 represents the base amount MEG…

Q: expert give me answer of this General accounting question

A: Step 1: Define Debt-to-Total Assets RatioThis ratio measures the proportion of a company's total…

Q: What is the firm's price earings ratio

A: To calculate the price-earnings (P/E) ratio, we need the market price per share and the earnings per…

Q: Eric Church company is a price taker

A: To determine the desired profit for the year, we will use the given information:Total assets =…

Q: Expert please provide answer

A: Explanation of Assets:Assets are resources owned by a business that have economic value and are…

Q: Given answer financial accounting question

A: Step 1: Define Stockholders' EquityStockholders' equity is the account categorization for equity…

Q: Ans

A: To calculate the annual depreciation for the machine, we can use the straight-line depreciation…

Q: Financial accounting question

A: Cost of Goods Sold (COGS) is the direct cost of producing or purchasing the goods that a company…

Q: None

A: The gross profit is calculated as: Gross Profit = Selling Price - Cost of Goods Sold (COGS) For this…

Question

not use ai solution given answer General accounting question

Tech Solutions Inc. has net sales on account of
$2,400,000. The average net accounts receivable are
$840,000. Calculate the days' sales in receivables. (Round
your answer to two decimal places.)
a. 127.75 days
b. 2.86 days
c. 365.00 days
d. 438.10 days

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

Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales for the year are $769,346. The balance at the end of 2017 was $325,300. What is the accounts receivable turnover rate for 2018 (rounded to two decimal places)? A. 2.02 times B. 2.25 times C. 2.15 times D. 1.13 times
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
E shop inc has...Accounting question
The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
A company reports the following: Sales $1,359,990 Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover.fill in the blank 1 b. Determine the number of days' sales in receivables.fill in the blank 2
A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.
A company reports the following: Sales $1,156, 320 Average accounts receivable (net) 87,600 Determine (a) the accounts receivable turnover and (b) number of days' sales in receivables. Round your answers to one decimal place. Assume a 365 day year. a. Accounts receivable turnover fill in the blank 1 b. Number of days' sales in receivables fill in the blank 2 days