You have collected the following information for Bravo Co.: Beginning ($) Ending ($) Item Inventory 6,000 8,000 Accounts Receivable 1,800 2,600 Accounts Payable 3,500 5,200 • • Credit Sales for the Year: $60,000 Cost of Goods Sold: $40,000 Required: a. How long does it take for Bravo to collect on its receivables? (Accounts Receivable Period) b. How long does merchandise stay around before it is sold? (Inventory Period) c. How long does it take Bravo to pay its bills? (Accounts Payable Period) d. What is Bravo's Operating Cycle?

You have collected the following information for Bravo Co.: Beginning ($) Ending ($) Item Inventory 6,000 8,000 Accounts Receivable 1,800 2,600 Accounts Payable 3,500 5,200 • • Credit Sales for the Year: $60,000 Cost of Goods Sold: $40,000 Required: a. How long does it take for Bravo to collect on its receivables? (Accounts Receivable Period) b. How long does merchandise stay around before it is sold? (Inventory Period) c. How long does it take Bravo to pay its bills? (Accounts Payable Period) d. What is Bravo's Operating Cycle?

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

Similar questions

The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
What is the accounts receivable turnover ratio for this financial accounting question?
?? Financial accounting question
Please provide correct answer accounting question
Please help me with show all calculation thanku
Can you please give me correct answer the general accounting question?
thank you so much!
Please give answer the general accounting
Provide correct solution
Question: Presented below is the information for Skysong Company. Beginning of the year Accounts Receivable balance was $23600. Net sales (all on account) for the year were $103100. Skysong does not offer cash discounts. Collections on accounts receivable during the year were $90300. Skysong is planning to factor some accounts receivables at the end of the year. Accounts totaling $14100 will be transfered to Credit Factors, Inc with recourse. Credit Factor will retain 7% of the balances for probable adjustments and assesses a finance charge of 6%. The fair value of the recourse obligation is $1021. Prepare the journal entry to record the sale of the receivables. Compute Skysongs accounts receivable turnover for the year, assuming the receivables are sold.
It's a general accounting question please answer
Please solve this question general accounting