Webber Corporation carries a number of receivables equal to $80,000, and its annual credit sales equal to $2.4 million. What is the receivables collection period (DSO)?
Q: Andrews Corporation has income from operations of $256,000. In addition, it received interest income…
A: Step 1: Determine Taxable Income1. Start with Income from Operations: Income from…
Q: A company has a net income of $790,000 and 55,300 outstanding shares. What is the earnings per…
A: The question requires the determination of the EPS.Earnings per share (EPS) is a financial metric…
Q: Recalculate net income for all three years using variable costing.
A: Step 1:There are two methods to calculate the income of the business i.e., variable costing and…
Q: The Maxit Corporation has a standard costing system in which variable manufacturing overhead is…
A: To solve for the standard number of machine hours allowed, we need to use the relationship between…
Q: Answer this question
A: Explanation: The formula to calculate the gross profit percentage is = (Gross profit/Net sales) *…
Q: Hi teacher please help me this question general accounting
A: Step 1: Define Cash FlowsThe cash flows of a firm can be categorized into three types - operating…
Q: Quick answer of this accounting questions
A: Step 1: Definition of Average Payment PeriodThe average payment period (or Days Payables Outstanding…
Q: How is the accounting equation affected when a partner withdraws cash? A. Liabilities decrease and…
A: The correct answer is:C. Both equity and assets decrease; liabilities are not affected.…
Q: Do fast answer of this accounting questions
A: Step 1: Definition of Tax CalculationIncome tax in Australia is calculated based on progressive tax…
Q: General Account - A department had 145 units which were 20% complete in beginning Goods in Process…
A: To calculate the equivalent units of production (EUP) using the weighted-average method, we include…
Q: I want to correct answer accounting questions
A: Step 1: Definition of TermsDegree of Operating Leverage (DOL): The degree of operating leverage…
Q: Your plant produces 100 snowmobiles per month. Direct costs are $2,000 per snowmobile. The monthly…
A: Concept of Direct CostsDirect costs are expenses that can be directly traced to the production of a…
Q: Financial Accounting
A: Step 1: Define Net Income (or Loss)Net income (or loss) for a period is the change in the business's…
Q: Green Co. incurs a cost of $15 per pound to produce Product X, which it sells for $26 per pound. The…
A: Key DefinitionsDifferential Cost: The additional cost incurred by taking one course of action over…
Q: Please provide this question solution general accounting
A: Step 1: Definition of Applied OverheadApplied overhead is calculated using the predetermined…
Q: Richard Inc. expects to sell 28,000 units. Each unit requires 4 pounds of direct materials at $15…
A: Step 1: Understand the FormulaThe formula to calculate planned production is: Planned…
Q: I need this question answer general Accounting question
A: Step 1: Formula Cash received from customers = Sales - Increase in accounts receivable Step 2:…
Q: I want to this question answer general Accounting
A: Step 1: Define Interest RevenueInterest revenue results from a company's investing activities, such…
Q: Which of the following accounting principles requires businesses to record depreciation? a. the cost…
A: The correct answer is:b. the matching principle Explanation:The matching principle is an accounting…
Q: Calculate digital solution cash return on assets?? General accounting
A: Step 1: Definition of Cash Return on AssetsThe Cash Return on Assets measures how efficiently a…
Q: Tutor of accounting. solve
A: Using the weighted average method, it combines all units (beginning WIP + units started) into one…
Q: Hello expert please help this question.
A:
Q: Financial Account: A company has a net income of $790,000 and 55,300 outstanding shares. What is the…
A: Explanation of Earnings Per Share (EPS): Earnings Per Share is a fundamental financial metric that…
Q: NO AI for this general account questions
A: Relationship between inventory levels, purchases, and the cost of goods sold (COGS):COGS = Beginning…
Q: The total manufacturing costs incurred for the year are $278,000. The overhead cost was 62% of the…
A: Explanation of Direct Labor Cost:Direct labor cost refers to the wages paid to workers directly…
Q: Kindly help me with general accounting question
A: Step 1: Define Accounts ReceivableAccounts receivable refers to the amount due from the customers…
Q: i dont know how to solve please help me. it is general account subject question.
A: Key Facts:Prepayment of Rent:Accounting treatment: Recognized as an asset (prepaid expense) because…
Q: Please given correct answer general Accounting
A: Step 1: Define Taxable IncomeTaxable income is a portion of gross income on which income tax is…
Q: What is the effect on the accounting equation when a company purchases inventory on credit? (a)…
A: Explanation of Assets:Assets are resources owned by a company that have economic value and can…
Q: General Accounting Question please answer
A: Step 1: Dollar markup Dollar markup = Selling price - CostDollar markup = $30 - $20.50Dollar markup…
Q: Kindly help me with accounting questions
A: Step 1: Formula Gross margin = Net sales - Cost of goods soldGross margin = (Sales revenue - Sales…
Q: Need general account
A: To determine the change in total assets, we use the accounting equation:…
Q: Do not round intermediate calculation ??
A: Step 1: Define Cash Conversion cycleCash conversion cycle is given as the accounts receivable period…
Q: Compute the number of units sold in 2016??
A: To compute the number of units sold in 2016, we can use the following formula:Net Income = (Selling…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Cash Return on AssetsCash Return on Assets measures the percentage of cash…
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA? Provide Answer
A: Given:Net Income = $268,000Total Assets = $2,576,000ROA=268,000/2,576,000×100ROA=0.104×100=10.4%…
Q: account of finance
A: Beginning Inventory = Cost of Goods Sold + Ending Inventory - Purchases Beginning Inventory =…
Q: Financial accounting question
A: Step 1: Define PurchasesPurchases are defined as the process of obtaining products or services in…
Q: Don't want ai Answer
A: Explanation of Net Income:Net income represents the profit a company earns during a specific period…
Q: A company has net income of $268,000 and total assets of $2,576,000. What is the ROA?
A: Step 1: Analysis of information providedNet Income = $268,000Total Assets = $2,576,000We need to…
Q: Calculate the adjusted net income??
A: Step 1: Analysis of information givenRevenues Understated by $1,500: Revenues are a source of…
Q: Pinhead Manufacturers Inc. has estimated total factory overhead costs of $147,000 and 12,800 direct…
A: Explanation of Factory Overhead: Factory overhead consists of all manufacturing costs that cannot be…
Q: Kindly help me with accounting questions
A: Step 1: Definition of Variable OverheadVariable overhead refers to indirect production costs that…
Q: What is its inventory turnover ratio?
A: Concept of Cost of Goods Sold (COGS):Cost of Goods Sold represents the direct costs associated with…
Q: What will be the company's contribution margin?
A: Step 1: Define Contribution MarginThe contribution margin can be computed by deducting the variable…
Q: cost accounting...
A: To calculate Baltimore Company's total equity, we use the accounting equation:…
Q: What is the amount of current liabilities??
A: Step 1: Define Current LiabilitiesCurrent liabilities are the borrowings that the business has to…
Q: A department had 145 units which were 20% complete in beginning Goods in Process Inventory. During…
A: Step 1: There are two methods to calculate the equivalent units of production, i.e., FIFO and the…
Q: GENERAL ACCOUNTING 2.4
A: Explanation of Equivalent Units for Materials:Equivalent units for materials refer to the number of…
Q: A company has total liabilities
A: Step 1: The debt-to-equity (D/E) ratio is used to evaluate a company's financial leverage and is…
What is the receivables collection period?
Step by step
Solved in 2 steps
- An FI has estimated the following annual costs for its demand deposits: management cost per account = $150, average account size = $1600, average number of cheques processed per account per month = 75, cost of clearing a cheque = $0.10, fees charged to customer per cheque = $0.05, and average fee charged per customer per month = $15. (a) What is the implicit interest cost of demand deposits for the FI? (b) If the FI has to keep an average of 8 per cent of demand deposits as required reserves with the RBA paying no interest, what is the implicit interest cost of demand deposits for the FI? (c) What should be the per-cheque fee charged to customers to reduce the implicit interest costs to 3 per cent? Ignore the reserve requirements.What was the average collection period of the receivable in terms of days?An FI has estimated the following annual costs for its demand deposits: management cost per account = $150, average account size = $1400, average number of cheques processed per account per month = 65, cost of clearing a cheque = $0.10, fees charged to customer per cheque = $0.05, and average fee charged per customer per month = $10.(a) What is the implicit interest cost of demand deposits for the FI?(b) If the FI has to keep an average of 6 per cent of demand deposits as required reserves with the Central Bank paying no interest, what is the implicit interest cost of demand deposits for the FI?(c) What should be the per-cheque fee charged to customers to reduce the implicit interest costs to 2 per cent? Ignore the reserve requirements.
- What are the receivable turnover ratio and days sales in receivables of these financial accounting question?The Allowance for uncollectible accounts currently has a credit balance of $200. Thecompany's management estimates that 2.5% of net credit sales will be uncollectible. Netcredit sales are $115,000. What will be the amount of Uncollectible account expensereported on the income statement?Original Media Sign Incorporated sells on account. Recently, Original reported the following figures Net Credit Sales Net Receivables at end of year Read the requirements. $ 2024 2024 545,100 $ 38,900 2023 Y 602,500 40,100 Requirement 1. Compute Original's days' sales in receivables for 2024. (Round to the nearest day.) First calculate the accounts receivable turnover. (Abbreviations used: AR turn = accounts receivable turnover ratio, Cash Cash including cash equivalents; ST invest = short-term investments. Round the accounts receivable turnover ratios to two decimals, X.XX.) G = AR turn
- Amount will accounts receivable be reported on the balance sheet?Please help me with show all calculation thanku4. The following select financial statement information from Hogge Computing. Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2021 and 2022 (round answers to two decimal places). Year 2020 2021 2022 2021: Net Credit Sales 2022: $1,557,200 $1,755,310 $1,965,170 Accounts Receivable Turnover Ratio: • Days' Sales: days Accounts Receivable Turnover Ratio: Days' Sales: days times times Ending Accounts Receivable $397,000 $465,200 $505,780