The Coca-Cola Company's receivables turnover ratio was 9.05 in 2009, and its average amount of net receivables during the period was $3,424 million. What is the amount of its net credit sales for the period? What is the average collection period in days?

The Coca-Cola Company's receivables turnover ratio was 9.05 in 2009, and its average amount of net receivables during the period was $3,424 million. What is the amount of its net credit sales for the period? What is the average collection period in days?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

See similar textbooks

Related questions

Q: Lee's pension trust reported the following events on its statement of changes in net assets for the…

A: Approach to solving the question: Actual Return = Interest Revenue + Dividend Revenue + Realized…

Q: Complete the following table using the perpetual FIFO method of inventory flow. Purchases Cost of…

A: Step 1:FIFO-Perpetual: First-purchased merchandise is sold first under this method. So, the cost of…

Q: I want to correct answer accounting

A: Step 1: Define Average Collection PeriodAs its name suggests, the average collection period denotes…

Q: Financial accounting

A: Step 1: The total Cost Larry would expect in April if he drove the car was 1,529 miles is the sum of…

Q: Please provide answer the accounting question

A: Step 1: Define Machine's Book ValueMachinery used in the business is subject to depreciation by the…

Q: I want to correct answer general accounting

A: Step 1: Calculate revenue from selling at the split-off pointStep 2: Calculate profit from selling…

Q: Federal Way, Incorporated, is a major department store chain. The dominant portion of the company's…

A: To estimate the merchandise purchases for the year, we can use the following formula: Beginning…

Q: Do fast and step by step calculation with explanation for these general accounting question

A: Step 1: Define Classification of CostsThe costs of a firm are usually classified into different…

Q: The most common method of recording depletion for accounting purposes is the Select one: a.…

A: Depletion is an accounting concept used most often in mining, timber, petroleum, or other similar…

Q: hello account tutor solve it

A: The lower-of-cost or market (LCM) approach is a principle in accounting used to value inventory.…

Q: Standard Intercompany Accounting?

A: Explanation of Reciprocal Accounting: This is a specialized accounting method used specifically for…

Q: 8

A: c) EastwoodNorthWestTotalProfit ratio87520/20Beginning capital31,90041,80051,700 Net income…

Q: solve both general account questions

A: Given Data:Number of units produced = 16,900 unitsVariable costs per unit:Direct materials =…

Q: Answer do fast and step by step calculation with explanation for the general accounting

A: Step 1: Define Overhead CostAll the expenses which are incurred during the manufacturing of products…

Q: Rushing had income solve this accounting question

A: The return on assets (ROA) measures how efficiently a company uses its invested assets to generate…

Q: None

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

Q: Jay has net income solution this accounting question

A: Step 1: Define Price-Earnings RatioIn the price-earnings ratio, the price refers to the market price…

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: I want to correct answer accounting questions

A: Explanation: The formula to calculate internal growth rate is as follows:Internal growth rate = (ROA…

Q: Financial Accounting Question need answer please

A: Step 1: Define Maturity ValueThe maturity value is the amount that is expected to be paid at the…

Q: Please provide correct answer general account not use aii

A: Hello student! Transfer Price is the price charged by a related party (departments, divisions, etc.)…

Q: Lynn Bishop placed $10,000 in a money market account that pays 5.5% interest compounded monthly. How…

A: In this problem, we are given the following values:Principal amount (P) = $10,000Annual interest…

Q: provide correct answer for this general account

A: Given Data:Standard overhead rate: $7.00 per machine-hour (MH)Actual variable manufacturing…

Q: None

A: If you have any clarifications (i.e., expand the explanation) or want different, expanded, or…

Q: Methodist medical center solution this accounting questions

A: Step 1: Define Operating LeverageThe analyst in the investment firms and financial institutions are…

Q: 5. Jobs completed during December and the actual output were:Job No. Quantity Items3005-5 48,000…

Q: Hello tutor please given answer general accounting question please not use chart gpt

A: Step 1: Define Total EquityThe total equity is equal to the difference between total assets and…

Q: A firm has sales of $800 accounting questions

A: Step 1: Define Return On EquityThe firm's return on equity (ROE) is a profitability ratio that…

Q: I want solution

A: Explanation for a: The formula to calculate total assets turnover ratio is = Total sales/Total…

Q: The following financial information is for Annapolis Corporation for the fiscal years ending 2018…

A: Step 1: Define Efficiency RatiosThe efficiency ratios reflect on the quality of the current assets…

Q: Banele had a taxable estate of $18.0 million when they died this year. Calculate the amount of…

A: Key Details for 2024:Estate Value: $18,000,000Exclusion Amount (2024): $13,610,000Taxable…

Q: provide correct answer and short explanation

A: Step 1: Identify the merchandise inventory at retailStep 2: Determine the cost-to-retail ratioStep…

Q: Compute the missing amounts in the following table:

A: Step 1: Define Accounting EquationThe accounting equation is the base of a double entry accounting…

Q: I. Prepare a flexible budget for overhead based on the following data: Percent of capacity 90% 100%…

A: Material variances are calculated by comparing the actual cost of materials used to the standard…

Q: Give me Answer

A: Here's an explanation of each option and why b) Internal restriction of retained earnings is…

Q: None

A: Advertising expense 180,000.00 Depreciation on the building 20,000.00 Maintenance cost on…

Q: Disclosures relating to PP&E assets are Select one: a. less extensive under ASPE. b. more…

A: Before we answer the question, let's understand the terms involved. PP&E stands for Property,…

Q: I need this accounting question

A: Step 1: Define Variable CostingThe variable costing income statement is prepared only for internal…

Q: Please tutor help me correct answer this general accounting

A: Step 1: Define Degree of Operating LeverageThe degree of operating leverage (DOL) shows how the…

Q: Hello tutor please give me answer accounting

A: Step 1: Define Manufacturing OverheadManufacturing overheads are applied to the cost of goods…

Q: None

A: 1: LandBeginning balance: $600,000.Increase:Acquired land in exchange for stock and incurred…

Q: Agrico,inc., provide correct answer please give me general accounting

A: Step 1: Define Notes payableNotes payable are the obligations by the promisor in which the borrower…

Q: None

A: Physical Inventory Count:Reported physical inventory as of December 31, 2024, is $453,000.Errors…

Q: 2020 cash flow accounting question

A: Explanation of Operating Cash Flow: Operating cash flow represents the amount of cash generated by a…

Q: How much is the profit margin on these general accounting question? Not use ai and chatgpt

A: Step 1: Define Profit MarginThe profit margin can be calculated by directing the cost of the goods…

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: The company has a net income of $199,000, provide correct solution for these accounting question

A: Step 1: Define Accounts ReceivableWhen a company gives credit to its clients, it creates an account…

Q: 68.

A: The correct answer is:b) Meets all revenue criteria plus specific conditions Explanation:Special…

Q: Why it is important for internal controls to be maintained: a. Safeguard assets (from fraud or…

A: Internal controls are the measures implemented by a company to ensure the integrity of financial and…

Q: Given the following information concerning need answer this accounting questions

A: Step 1: Define Promissory NoteA promissory note is issued by the borrower and given to the lender.…

Question

100%

The coca - cala company receivable provide this question solution general accounting

The Coca-Cola Company's receivables turnover
ratio was 9.05 in 2009, and its average amount of
net receivables during the period was $3,424
million.
What is the amount of its net credit sales for the
period?
What is the average collection period in 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

What is the day's sales in receivables ratio for 2018 ?
Solve this?
What is number of days sales are receivable?
What is the receivables collection period?
What is the number of days sales in receivable?
What is the receivable turnover?
Boom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just ended were $4,238,720. What is the receivables turnover? What is the day's sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?
A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable turnover and average number of collectiondays. How do these numbers relate to the terms of 2/10, n/30?
Boom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just ended were $4,238,720. What is the receivables turnover? What is the day's sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?(general Account)
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times) Compute 3M’s average collection period for accounts receivable in days - Average collection period =? (days)
???
Please help me this question