Answered: The accounts receivable turnover for…

The accounts receivable turnover for the year is 9.5. Net sales for the period are 100,000. What is number of days' sales are in receivable?

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: General accounting question

A: Step 1: Rate earned on stockholders' equity Rate earned on stockholders' equity = Net income/Average…

Q: None

A: Step 1: Definition of Gross Margin RatioThe Gross Margin Ratio measures the percentage of sales…

Q: expert of general account answer is:

A: Step 1: Definition of Income Tax PayableIncome tax payable is a liability representing the amount of…

Q: GlobalTech, Inc. has sales of 32.6 million, total assets of 24.3 million, and total debt of $8.5…

A: Explanation of Sales Revenue:Sales revenue is the total amount of money a company generates from…

Q: correct answer please

A: Step 1: Definition of Absorption CostingIn cost accounting, absorption costing refers to the proper…

Q: SUBJECT FINANCIAL ACCOUNTING

A: Explanation of Stockholders' Equity:Stockholders' equity represents the residual ownership interest…

Q: Can you please solve this

A: Variable costing refers to a method of determining the cost of inventories produced wherein the…

Q: What would be the effect on income from operations?

A: Explanation of Absorption Costing: Absorption costing is a costing method that includes all…

Q: hello teacher please solve questing

A: Step 1: Definition of Excludable Scholarship IncomeAccording to U.S. Federal Tax Laws, a scholarship…

Q: None

A: Step 1: Definition of Degree of Operating Leverage (DOL)The degree of operating leverage (DOL)…

Q: How many meals would have to be sold if fix costs declined by 20% ? Accounting

A: Step 1: Definition of Contribution Margin and Required Sales CalculationContribution Margin is the…

Q: What is the sales-volume variance?

A: Given:Planned Production = 1,500 unitsActual Production = 1,200 unitsPlanned Cost per Unit =…

Q: Help me account tutor

A: Step 1: Definition of Accounting Equation and Asset EmbezzlementThe accounting equation is:…

Q: Teja should recognize a gain of

A: Concept of Straight-Line DepreciationThe straight-line depreciation method spreads the cost of an…

Q: General accounting

A: Step 1: Debt Relief CalculationCosmo contributed land with a tax basis of $99,000.The land is…

Q: What would be the cost of the beginning work in process inventory on this general accounting…

A: Step 1: Define Beginning Work in Process Inventory (WIP)The beginning work in process inventory…

Q: General Accounting

A: Step 1: Define Direct Materials Efficiency VarianceThe Direct Materials Efficiency Variance (also…

Q: Ans

A: Weighted Average Cost per Unit: A cost calculation method that divides the total cost of goods…

Q: How many units were completed during the period on these financial accounting question?

A: Step 1: Calculate the Equivalent Units at the Start of April:The beginning inventory had 1,500 units…

Q: The standard materials cost of TimberCraft's product is $60 per unit, based on 15 pounds of raw…

A: Explanation of Standard Cost:Standard cost refers to the predetermined cost assigned to a product…

Q: Using the ACFR information for the City of Salem, indicate both financial statements that contained…

A: Approach to solving the question:To accurately answer your question, I need access to the Annual…

Q: Hello teacher please solve this questions

A: The problem requires the determination of the debt to equity ratio. The debt-to-equity (D/E) ratio…

Q: BoAt Company had no beginning inventory and adds all materials at the very beginning of its only…

A: Concept of Ending Work in Process (WIP):Ending work in process refers to the number of units that…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Accounts Receivable Turnover Ratio & Days' Sales Outstanding (DSO)Accounts…

Q: Need answer

A: Step 1: Given Value for Calculation Current Year Net Income = cni = $90Current Year Total Assets =…

Q: What should be tansen manufacturing predetermined overhead rate for September?

A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a manufacturing cost…

Q: answer

A: The real interest rate is calculated using the formula: 1+r=Current Consumption IncreaseFuture…

Q: Hello teacher please help me this question solution

A: Step 1: Define High-Low MethodThe high-low method is the cost-splitting method which is used when…

Q: Calculate the return on common stockholders equity of this financial accounting question

A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) measures a company's profitability in…

Q: There is sufficient capacity to fill the order

A: The answer is (d) $3.45. Given:Variable costs for 60,000 units= $108,000Fixed costs for 60,000…

Q: What was her capital gains yield? General accounting

A: To calculate Maria's capital gains yield, use the following formula:Capital Gains Yield=((Selling…

Q: Need help this question solution

A: Step 1: Definition of Overapplied or Underapplied OverheadOverapplied overhead occurs when the…

Q: What is the effect on net income?

A: Compute the tax on discontinued operation gain.Tax on discontinued operation gain = Operation gain x…

Q: What is its net income?

A: Explanation of Net Income:Net income is the company's profit after deducting all expenses from total…

Q: Solve this general accounting question not use ai

A: Approach to solving the question: Solution/FormulaSelling Price $ 6.50 Variable costs $…

Q: general accounting

A: Step 1: Definition of Variable CostingVariable costing is a costing method used for internal…

Q: Slove this Accounting problem

A: Explanation of Cost Price (CP):Cost price refers to the original amount spent to acquire or produce…

Q: hello teacher please answer is

A: Step 1: Definition of Work in Process (WIP)Work in Process (WIP) represents partially completed…

Q: need help this questions

A: The question requires the determination of the margin loan amount and the initial margin…

Q: Hima company has a debt-equity ratio of

A: (a) Equity Multiplier (EM)The equity multiplier is given by:Equity Multiplier=1+Debt/EquitySince the…

Q: None

A: Step 1: Definition of Gain or Loss on Sale of AssetThe Gain or Loss on Sale of an Asset is…

Q: Vicco Inc

A: Concept of Stockholders' Equity:Stockholders' equity represents the owners' claim on the company's…

Q: What amount of net income did montrose company report?

A: Explanation of Consolidated Income Statement: This is a financial statement that combines the…

Q: Fixed costs were

A: Concept of Total Production CostTotal production cost refers to the sum of all expenses incurred in…

Q: solve this question General accounting

A: Step 1: Define Amortization is the process of gradually expensing the cost of an intangible asset…

Q: Grayson corporation partial income statement is as follows

A: Explanation of Profit Margin: Profit margin is a key financial metric that measures how much profit…

Q: If sales are $420,000, variable costs are 72% of sales, and operating income is $40,000, what is the…

A: Approach to solving the question:Freeform Detailed explanation: The operating leverage is a measure…

Q: Accounting

A: Concept of Market Value of AssetsThe market value of assets represents the estimated worth of a…

Q: Give this question general accounting answer

A: Step 1: Definition of Net IncomeWithin a company, net income represents its after-tax earnings…

Q: Financial Accounting Question please answer

A: Step 1: Define Goodwill in Business AcquisitionGoodwill is an intangible asset that represents the…

Question

answer plz

The accounts receivable turnover for the
year is 9.5. Net sales for the period are
100,000. What is number of days' sales are
in receivable?

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

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.
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.
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.
What is number of days sales are receivable?
Yom Electronics has an accounts receivable turnover for the year of 8.2. Net sales for the period are $120,000. What is the number of days' sales in receivables?
Yom Electronics has an accounts receivable turnover for the year of 8.2. Net sales for the period are $120,000. What is the number of days' sales in receivables? accurate answer
What is the days sales collected?
A company reports the following: Sales Average accounts receivable (net) 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 $398,580 76,650 b. Number of days' sales in receivables days
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.
Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just ended were $2,936,600. a. What is the receivables turnover? b. What is the days' sales in receivables?
Net Credit Sales = 12,000. Accounts receivable turnover = 18.8 times. Cost of goods sold = 2,000. Days in Year = 365 days. How much is average collection period in days?
A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days