Use the following information to answer the question that follow: Net Income : $205,000 Profit margin : 7.80% A/R : $151,642 Credit sales : 60% of total sales Compute the days’ sales in receivables

Q: Net credit sales for Turner Company are $200,000 for the year and the average accounts receivable…

A: Average collection period = Accounts Receivable Turnover Ratio =

Q: YZ's receivables turnover is 24x. The accounts receivable at year-end are $410,000. The average…

A: Account receivables are payment due to the customers that are not received yet and will be received…

Q: McEwan Industries sells on terms of 3/10, net 35. Total sales for the year are $1,947,000; 40% of…

A: Hi student Since there are multiple subparts, we will answer only first three subparts. If you want…

Q: Following are data for December 31,2021: $5,365,000 Net sales Cost of sales, and related buying…

A: The ratio analysis helps to analyze the financial statements if the business.

Q: A firm had credit sales of $15,750,000 last year and its days sales outstanding was 65 days.  What…

A: Given, Credit sales = $15,750,000. Days sales outstanding = 65 days.

Q: average investment in accounts receivable?

A: Average investment in accounts receivable = Accounts receivable average collection period * Annual…

Q: Using the following information and a 360-day year, what is your estimate of the firm's current…

A: To estimate the firm's current receivables period, we use the information provided to calculate the…

Q: Following are data foE Net sales $5,365,000 Cost of sales, and related buying costs Accounts…

A: The ratio analysis helps to analyze the financial statements of the business.

Q: This year your company has $34 million of credit sales and average receivables of $7 million. Your…

A: APR signifies the complete expense of borrowing money for a year. It is expressed as a percentage of…

Q: Given the following information, calculate the savings ratio: (Round your answer to 2 decimal…

A: Step 1: The calculation of the savings ratio percentage Savings ratio = (Monthly savings / Gross…

Q: accounts receivable turno ratio of a company is 2, annual credit sales IS $ nat is the average…

A: Given, Accounts receivable turnover = 2 Annual credit sales = $719550

Q: An FI has estimated the following annual costs for its demand deposits: management cost per account…

A: Regulators impose reserve requirements on demand deposits of banks and FIs. The reserve requirements…

Q: What is the receivales turnover and what is the average collection period (days sales outstanding) ?

A: Information Provided: Credit sales = $10,640,000 Receivables = $1,520,000

Q: Please Give the answer of this question

A: Step 1: Introduction to the Account Receivable:Account receivable is a current asset created by a…

Q: #9: Accounts Receivable, beg. 150,000.00; Accounts Receivable, end 125,000.00; Cash Collection from…

A: Accounts Receivable A/c  Particulars  Amount Particulars  Amount To balance  b/d  150,000.00 By…

Q: Vikrambhai

A: The objective of the question is to calculate the company's average collection period. The average…

Q: A firm has an ACP of 38 days and its annual sales are $5.3 million. What is its account receivable…

A: The average collection period is a measure of the time it takes for a company to receive payment…

Q: A company had net sales of $570,000, total sales of $720,000, and average accounts receivable, net…

A: Accounts receivable ratio is calculated to know how efficiently the company collects its debts…

Q: Following are data for December 31,2021: Net sales $5,365,000 Cost of sales, and related buying…

A: Inventory  turnover  = cost of goods sold/ average  Inventory

Q: Net Credit Sales = 12,000. Accounts receivable turnover = 18.8 times. Cost of goods sold = 2,000.…

A: average collection period in days = 365 days / accounts recievables turnover ratio   Given that,…

Trade Credit

Answer- a- Before Shipping of goods