Give me true answer the accounting question Your firm had net sales of $80,000 this past year andreceivables of $20,000; and the cost of goods soldof $522,000.Required:What were the day's sales outstanding?

Explanation: The formula to calculate days sales outstanding is as follows:Days sales outstanding =…

Answered: Your firm had net sales of $80,000 this…

Corporate Fin Focused Approach

5th Edition

ISBN:9781285660516

Author:EHRHARDT

Publisher:EHRHARDT

Chapter16: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 11P

See similar textbooks

Similar questions

Need answer
Elizabeth Tailors Inc. has assets of $8,540,000 and turns over its assets 1.8 times per year. Return on assets is 16.5 percent. What is the firm's profit margin (returns on sales)? (Input your answer as a percent rounded to 2 decimal places.) Profit margin %6
Your company has sales of $97,200 this year and cost of goods sold of $71,200. You forecast sales to increase to $113,100 next year. Using the percent of sales method, forecast next year's cost of goods sold.
1. Aboridor company had the following results last year: Sales, P700,000; Return on Investment, 28%; and profit margin of 8%. How much was the operating assets last year? 2. Jadafe makes all purchases on account, subject to the following payment pattern:Paid in the month of purchase .................. ..... 30%Paid in the first month following the purchase ....... 60%Paid in the second month following the purchase .. 10%If purchases for January, February and March were P200,000; P180,000; and P230,000,respectively, what were the firm’s budgeted payments in March? 3. Ariba Company Consists of two stores, Amina and Ramina. Store Amina has a sales of P80,000 during April,a contribution margin ratio of 30% and a segment margin of P11,000. The company as awhole had sales of P200,000, a contribution margin of 36%, segment margin for the twostores totalling P31,000. If the net income of the company was P15,000 for the month, whatmust have been the traceable fixed expenses in Store Ramina.
Use this information for Mason Corporation to answer the question that follow. Mason Corporation had $1,030,000 in invested assets, sales of $1,275,000, income from operations amounting to $227,000, and a desired minimum return of 12%. Round the percentage to one decimal place. The profit margin for Mason Corporation is Oa. 22.0% Оb. 17.8% Oc. 12.0% Od. 80.8%
Answer the below Questions
Use this information for Mason Corporation to answer the question that follow. Mason Corporation had $1,058,000 in invested assets, sales of $1,229,000, income from operations amounting to $202,000, and a desired minimum return of 12%. Round the percentage to one decimal place. The profit margin for Mason Corporation is Oa. 19.1% Ob. 16.4% Oc. 86.1% IC. Od. 12.0%
Provide correct answer
Net Sales?
Rappaport Corp.'s sales last year were $375,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct answer. a. 6.19 % b. 6.21 % c. 6.17 % d. 6.13 % e. 6.15 %
Consider a firm with an annual net income of $20 million, revenue of $60 million and cost of goods sold of $20 million. If the balance sheet amounts show $2 million of inventory and $500,000 of property, plant & equipment, what is the inventory turnover? 12.50 10.00 40.00 8.00
Suppose Ningbo Steel had sales revenue of $11,000 sales revenue, and a cost of goods sold at $5000, operating expenses of $1000, a tax rate of 20%, and 1000 shates of common stock outstanding. Based on this information, what was the net profit after tax?

SEE MORE QUESTIONS

Recommended textbooks for you

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Corporate Fin Focused Approach

Finance

ISBN:

9781285660516

Author:

EHRHARDT

Publisher:

Cengage

Intermediate Financial Management (MindTap Course…

Finance

ISBN:

9781337395083

Author:

Eugene F. Brigham, Phillip R. Daves

Publisher:

Cengage Learning

Excel Applications for Accounting Principles

Accounting

ISBN:

9781111581565

Author:

Gaylord N. Smith

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

SEE MORE TEXTBOOKS

Your firm had net sales of $80,000 this past year and receivables of $20,000; and the cost of goods sold of $522,000. Required: What were the day's sales outstanding?