Zeel Corporation has an inventory period of 48 days, an accounts receivable period of 8 days, and an accounts payable period of 5 days. The company's annual sales are $195,620. How many times per year does the company turn over its accounts receivable?

Zeel Corporation has an inventory period of 48 days, an accounts receivable period of 8 days, and an accounts payable period of 5 days. The company's annual sales are $195,620. How many times per year does the company turn over its accounts receivable?

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter21: Supply Chains And Working Capital Management

Section: Chapter Questions

Problem 2P: Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers...

See similar textbooks

Related questions

Q: No AI ANSWER

A: Concept of Gross ProfitGross Profit is the difference between a company's sales revenue and the cost…

Q: ans plz

A: Step 1: Definition of Cost of SalesCost of Sales (COGS) represents the direct costs associated with…

Q: Please answer this Accounting problem

A: Explanation of Total Dollar Return: Total dollar return represents the complete financial gain or…

Q: General accounting

A: Step 1: Define Price earning RatioThe price earning ratio is a financial ratio that compares the…

Q: Your plant produces 134 snowmobiles per month. Direct costs are $2,540 per snowmobile. The monthly…

A: Step 1:First, calculate the overhead cost per snowmobile: Overhead cost per snowmobile = Monthly…

Q: What is the flexible budget net income?

A: Step 1: Calculation of total salesTotal sales = Selling price per unit × Number of unitsTotal sales…

Q: need help this questions

A: Step 1: Definition of Average Collection PeriodThe average collection period measures the time it…

Q: Hello tutor solve this question is accounting

A: Step 1: Define Variable CostVariable costs are expenses that alter as a company's product or service…

Q: SUBJECT FINANCIAL ACCOUNTING

A: Explanation of Return on Total Assets (ROA):Return on Total Assets (ROA) is a financial ratio that…

Q: Carter Industries has stockholders' equity of $350,000 and total liabilities of $215,000. What is…

A: Explanation of Accounting Equation:The accounting equation is the foundation of double-entry…

Q: Please provide correct answer this financial accounting question

A: Step 1: Define Return on Equity (ROE)Return on Equity (ROE) measures a company's profitability in…

Q: Ans

A: A project that raises sales income by $27,500 without raising expenses is being considered by the…

Q: need help this questions general accounting

A: Step 1: Definition of Return on Equity (ROE)Return on Equity (ROE) is a financial metric that…

Q: Total assets turnover

A: Step 1: Definition of Asset Turnover RatioAsset Turnover Ratio is a financial metric that measures…

Q: The current year is as follows

A: Given:Highest machine hours = 3,800Lowest machine hours = 2,200 Formula:Fixed portion = Total cost -…

Q: provide answer of this Financial accounting question

A: Step 1: Contribution margin Contribution margin = Sales - Variable costsContribution margin =…

Q: Need answer the general accounting question

A: Step 1: Define Average Collection PeriodThe Average Collection Period measures the average number of…

Q: Subject: financial accounting

A: Explanation of Return on Assets (ROA): This is a profitability ratio that measures how efficiently a…

Q: None

A: 1. Determine the weights of equity and debt:Weight of equity = 70% = 0.70Weight of debt = 30% = 0.30…

Q: hi expert given answer General accounting question

A: Step 1: Contribution margin Contribution margin = Sales - Variable costsContribution margin =…

Q: What is the gross profit margin?

A: The question requires the determination of the gross profit margin.Gross profit margin shows the…

Q: What was the overall fixed manufacturing overhead budget variance for the month?

A: Explanation of Fixed Overhead Budget Variance: Fixed overhead budget variance measures the…

Q: Financial accounting question

A: Question 1: Liabity for product warrantyGiven Data:Total units sold = 400Defective rate =…

Q: I want answer

A: Explanation of Standard Cost System: A standard cost system is a method where predetermined costs…

Q: how much long-term debt did the firm have?

A: To find the long-term debt, we need to calculate the total assets and total liabilities &…

Q: Given correct answer general accounting

A: Step 1: Define Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL) measures how…

Q: Sub. General accounting

A: To find the net income, we use the retained earnings formula:Ending Retained Earnings = Beginning…

Q: Find Cost account answer

A: Correct Answer:b. Are predetermined unit costs which companies use as measures of performance.…

Q: can you please solve this general accounting

A: Calculation of Average Daily Sales of the CompanyAverage Daily Sales = Current Accounts Receivables/…

Q: Answer this below Question

A: Concept of Other Comprehensive Income (OCI)Other Comprehensive Income (OCI) refers to income,…

Q: Financial Accounting problem

A: Concept of Standard Labor Hours per UnitStandard labor hours per unit refer to the estimated number…

Q: Solve this Accounting problem

A: Let's calculate Anthony's total dollar return step by step:1. Initial Cost of InvestmentShares…

Q: Need answer please

A: Step 1: Formula Accounting equation:Assets = Liabilities + Equity You can use the formula below to…

Q: What is the net income reported by Meera auto repairs for the year?

A: Explanation of Net Income: Net income represents the financial profit or loss a business generates…

Q: Financial Accounting Question

A: Step 1: Define Return on Common Stockholders' Equity (ROE)Return on Common Stockholders' Equity…

Q: Sub. General Account

A: Step 1: Definition of Direct Materials Efficiency (Quantity) VarianceThe direct materials efficiency…

Q: Required Information On January 1, 2022, Palmcroft Company acquired 100 percent of the outstanding…

A: To calculate the consolidated net income, we first need to calculate the net income of each company.…

Q: Need answer the general accounting question

A: Step 1: Define Equivalent Units for Conversion CostsEquivalent units for conversion costs represent…

Q: Need help this question solution

A: Step 1: Definition of Sales RevenueSales revenue is a nominal account with a credit balance. It…

Q: What is dant gross profit at standard?

A: To determine Dant Industries' gross profit at standard, we need to adjust the actual gross profit by…

Q: None

A: Given data:Processing order = 23 minutesWaiting for copying to begin = 27 minutesCopying = 22…

Q: If the contribution margin ratio for Vera Company is 28%, sales were $1,135,000, and fixed costs…

A: Concept of Contribution MarginThe contribution margin is the amount remaining from sales revenue…

Q: Please help

A: Question 1: Step 1. Calculate the Warranty expense for the current month Warranty expense for the…

Q: If $8,400 was the beginning inventory, purchases were $14,000, and sales were $12,600, how much was…

A: Concept of Beginning InventoryThe beginning inventory refers to the value of goods that a company…

Q: Tang Company accumulates the following data concerning raw materials in making one gallon of the…

A: Step 1: Definition of Standard Direct Materials CostThe standard direct materials cost represents…

Q: The labor rate variance for April is

A: Step 1: Introduction to standard costingStandard costing is a management accounting technique used…

Q: What was this company's average collection period for 2023 on these general accounting question?

A: Step 1: Define Average Collection PeriodThe Average Collection Period measures the average number of…

Q: General Accounting 6.7

A: Concept of Total DebtTotal debt refers to the sum of all borrowed funds that a company must repay,…

Q: ??

A: Step 1:First, calculate the variable direct labor cost per machine hour: Variable direct labor cost…

Q: provide correct answer general accounting

A: Step 1: Definition of Average Collection PeriodAverage Collection period is an activity ratio linked…

Question

100%

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Negus Enterprises has an inventory conversion period of 50 days, an average collection period of 35 days, and a payables deferral period of 25 days. Assume that cost of goods sold is 80% of sales. What is the length of the firm’s cash conversion cycle? If annual sales are $4,380,000 and all sales are on credit, what is the firm’s investment in accounts receivable? How many times per year does Negus Enterprises turn over its inventory?
Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
On December 1 of the current year, Jordan Inc. assigns 125,000 of its accounts receivable to McLaughlin Company for cash. McLaughlin Company charges a 750 service fee, advances 85% of Jordans accounts receivable, and charges an annual interest rate of 9% on any outstanding loan balance. Prepare the related journal entries for Jordan.
Fitbands estimated sales are: What are the balances in accounts receivable for January, February, and March if 65% of sales is collected in the month of sale, 25% is collected the month after the sale, and 10% is second month after the sale?
What is the firm's accounts receivable balance based on a 365- day year on these accounting question?
Solve this question general Accounting
What is it's accounts receivable balance on these general accounting question?
Baxley Brothers has a DSO of 23 days, and its annual salesare $3,650,000. What is its accounts receivable balance? Assume that it uses a 365-day year.
Murtaugh Manufacturing sells on terms of 2/15, net 40. Total annual sales are $950,000. 40% of the customers pay on the 15th day and take discounts, and the remainder pay, on average, 50 days after their purchases. All sales and receivables are recorded net of discounts, regardless of whether or not discounts are actually taken. What is the firm's accounts receivable balance, based on a 365-day year? Select one: a. $88,526 b. $85,123 c. $93,699 d. $82,708
Please give me answer general accounting
Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.