The Manana Corporation had sales of $65 million this year. Its accounts receivable balance averaged $2 million. How long, on average, does it take the firm to collect on its sales?
Q: Hi expert please give me answer general accounting question
A: Step 1: Definition of GoodwillGoodwill is calculated as the excess amount paid over the fair value…
Q: Select a topic (within the last 12 months) on Technology from the IMA Count Me in Podcast…
A: 2. **Data Analytics for Better Decisions:** - Finance teams are increasingly using data analytics…
Q: Need answer the general accounting question please answer do fast
A: Step 1: Define Incremental Cash FlowIncremental cash flow represents the difference between the…
Q: Do fast answer of this accounting questions
A: Explanation of Return on Assets (ROA): Return on Assets is a financial ratio that measures how…
Q: Please need answer the financial accounting question
A: Step 1: Define Net Present Value (NPV)The net present value of a project represents the net worth…
Q: Do fast answer of this accounting questions
A: Step 1:First, calculate the budgeted fixed overhead: Fixed overhead budget variance = Actual fixed…
Q: I won't this general Accounting question solution
A: Step 1: Define Fixed CostFixed costs are expenses that do not depend on the level of production or…
Q: Given answer accounting questions
A: Step 1: Definition of Optimal Advertising ExpenditureOptimal advertising expenditure refers to the…
Q: Correct answer to this Problem
A: Explanation of Benefit Realization TrackingBenefit realization tracking is a process that ensures…
Q: This is cost account question. please provide short answer
A: To compute the equivalent units of production for conversion costs, we account for:Units completed…
Q: Hello tutor please provide correct answer general Accounting
A: Step 1: Define Contribution Margin The contribution margin of a business indicates the quantum of…
Q: Need this questions answer asap subject is financial account
A: To calculate the inventory value using the dollar-value LIFO method, follow these steps for each…
Q: Provide correct option general accounting
A: Step 1: Calculate the predetermined overhead rate per direct labor hour.Predetermined overhead rate…
Q: ANSWER
A: Why Measurement Attribute Selection Affects Reporting QualityMeasurement attributes refer to the…
Q: Do fast answer of this accounting questions
A: To prepare a correct statement of comprehensive income, we will include both the income before taxes…
Q: Correct answer? ? General Accounting
A: Step 1: Define Receivable TurnoverWe determine the receivables turnover to count the number of times…
Q: The white flour company mills solve this general accounting question
A: Step 1: Calculation of Beginning equivalent unitsBeginning equivalent units = Units × Degree of…
Q: What is the asset turnover ratio for these general accounting question?
A: Step 1: Define Asset Turnover RatioThe Asset Turnover Ratio is a financial efficiency ratio that…
Q: Hello tutor please give answer the financial accounting question
A: Step 1:The accounting equation is the base of a double-entry bookkeeping system; under this, total…
Q: What is the constant for the estimating cost equation for this accounting question?
A: Step 1: Identify the highest and lowest observation of cost driver. labor…
Q: Cara Industries incurred the following costs for 50,000 units: Variable costs: $90,000 Fixed costs:…
A: We have given, Variable cost for 50,000 units = $90,000 So, Variable cost per unit = 50,000$90,000…
Q: Hy expert provide answer please
A: Step 1: Define Accounts ReceivablesAccounts receivables are current assets, meaning, these are…
Q: Please give me answer general accounting
A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…
Q: Need Solution in this account query
A: To solve this problem, we apply the lower of cost or net realizable value (LCNRV) rule for each…
Q: Financial Accounting
A: To calculate the total equivalent units for direct materials, we need to consider both the completed…
Q: Please given correct answer general accounting
A: Step 1: Define DepreciationThe value of an asset, such as equipment, vehicles, or buildings,…
Q: The beta of westbrook solution general accounting question
A: As per CAPM, Expected return on stock = Risk-free rate + Beta*(Market Rate-Risk-free rate) Expected…
Q: What is the gross income for the year on these financial accounting question?
A: Step 1: Define Gross IncomeGross income is calculated as Net Sales minus Cost of Goods Sold (COGS).…
Q: Which of the following most accurately describes the federal tax consequences of a partnership/LLC?…
A: Option A is incorrect: Tax regulation for partnerships: While partnerships are technically…
Q: When should dynamic allocation models replace static methods? a) Changes create confusion b) Fixed…
A: Approach to solving the question:Freeform Detailed explanation: The reason c) Changing business…
Q: Company inventory?
A: To determine the inventory value under the lower-of-cost-or-market (LCM) rule for Metlock Company on…
Q: Answer to following general account questions
A: Step 1: Understand Absorption CostingUnder absorption costing, the inventory includes:Variable…
Q: I need answer of this question solution general accounting
A: Step 1: Definition of Residual Distribution ModelThe residual distribution model calculates…
Q: General Accounting question
A: The question requires the determination of the pretax and after-tax return on stocks. A return is…
Q: ?? Detailed answer
A: The accounting profession is essential for facilitating efficient governance and internal control…
Q: Financial Accounting Question please solve
A: Step 1: Define Note PayableNote payables indicate the amount borrowed by a company from the lenders.…
Q: ??
A: Explanation of Return on Assets (ROA): Return on Assets is a financial ratio that indicates how…
Q: Answer this financial accounting problem
A: Explanation of Measurement AttributeA measurement attribute refers to the specific basis or method…
Q: Need help with this question solution general accounting
A: Step 1: Define High-Low MethodIf the manufacturing cost of the product is consistent throughout the…
Q: Please give correct option with short details in this general account subject questions
A: To analyze this question, let's break down the relationship between total variable cost, cost-driver…
Q: What is the accruals total reported for this period on these general accounting question?
A: Step 1: IntroductionThe concept of accruals relates to the difference between income recognized on…
Q: Hi expert please provide correct answer general Accounting
A: Step 1: Calculate the total units to be producedStart with the desired ending inventory: 3,500…
Q: Financial Account
A: To determine the LCNRV (Lower of Cost or Net Realizable Value) for Sheridan Company's inventory, we…
Q: Required information [The following information applies to the questions displayed below.] In each…
A: Step 1:1. We can determine the lowest acceptable transfer price as follows:As given, there will be…
Q: What is the difference between fiscal and monetary policy? Give examples of each.
A: Fiscal policy refers to the use of government revenue collection (mainly taxes) and expenditure…
Q: Hello tutor please solve this accounting questions
A: Step 1: Define BudgetA budget is a report prepared by businesses to show the estimated figures for…
Q: Financial accounting questions
A: Step 1: Define Cost of Goods SoldThe cost of goods sold is the sum of all expenses incurred in…
Q: Financial Account Questions
A: Step 1: Calculate Cost of Goods Sold (COGS)Gross Profit = Net Sales - COGS (Arrange the formula to…
Q: Joberg Ltd. prepared an aging of its accounts receivable at December 31, 2020 and determined that…
A: Bad debt expense is the amount that a company estimates will not be collected from its customers who…
Q: Luxury lamps has variable expenses solve this accounting questions
A: Step 1: Definition of Operating Leverage FactorThe Operating Leverage Factor measures the…
The manana corporation had sales solve this accounting questions
Step by step
Solved in 2 steps
- Assume the credit terms offered to your firm by your suppliers are 4/20, net 50. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 50. (Hint: Use a 365-day year.) The cost of trade credit is%. (Rounded to two decimal places.) ...If a firm has sales of $25,689,00 a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be in the firm is comparable to the industry?What will be the firm's operating cycle?
- he Brenmar Sales Company had a gross profit margin (gross profits÷sales) of 34 percent and sales of $8.3 million last year. 79 percent of the firm's sales are on credit, and the remainder are cash sales. Brenmar's current assets equal $1.5 million, its current liabilities equal a. If Brenmar's accounts receivable equal $563,000, what is its average collection period? b. If Brenmar reduces its average collection period to 25 days, what will be its new level of accounts receivable? c. Brenmar's inventory turnover ratio is 8.9 times. What is the level of Brenmar's inventories? $303,100, and it has $104,400 in cash plus marketable securities.Need answer the questionIf a firm has sales of $21,764,000 a year, and the average collection period for the industry is 55 days, what should this firm’s accounts receivable be if the firm is comparable to the industry? Assume there are 365 days in a year. Do not round intermediate calculations. Round your answer to the nearest dollar.
- I need answer of this questionThe Dire Corporation has an inventory conversion period of 75 days, a receivables collection period of 38 days, and a payables deferral period of 30 days. What is the length of the firm’s cash conversion cycle? If Dire’s annual sales are $3,421,875 and all sales are on credit, what is the firm’s investment in accounts receivable? How many times per year does Dire turn over its inventory?Edwards Industries has $320 million in sales. The companyexpects that its sales will increase 12% this year. Edwards’ CFO uses a simple linearregression to forecast the company’s receivables level for a given level of projected sales.On the basis of recent history, the estimated relationship between receivables and sales (inmillions of dollars) is as follows:Receivables = $9.25 + 0.07(Sales)Given the estimated sales forecast and the estimated relationship between receivables andsales, what are your forecasts of the company’s year-end balance for receivables and itsyear-end days sales outstanding (DSO) ratio? Assume that DSO is calculated on the basisof a 365-day year.
- What is the DSO?If Emperium Inc. had credit sales of 2,027,773 per year and its days sales outstanding was equal to 35 days, what was its average amount of accounts receivable outstanding? (Assume a 365-day year).The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on credit terms; half are cash sales. The receivables in the statement of financial position are $23,500. What are the receivable days (to the nearest day)?
