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: Help

A: Explanation of Total Manufacturing Costs:Total Manufacturing Costs refer to the sum of all expenses…

Q: what is the variable overhead spending variance?

A: Step 1: Definition of Variable Overhead Spending VarianceVariable Overhead Spending Variance…

Q: Need Answer Please Provide solution of this Question pleas need step by step answer plzz

A: Step 1: Use the Accounting Equation The basic accounting equation is: Assets = Liabilities + Equity…

Q: ??!

A: To calculate the unit product cost of gears under variable costing, we need to consider only the…

Q: Calculate Harper's Fine HatS' total assets

Q: What is the net income for the year

A: Step 1: Analysis of information givenRevenues = $225,000Expenses = $129,500Dividend is the portion…

Q: DeltaTech uses the straight-line method. Assets purchased between the 1st and 15th of the month are…

A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method where an asset's…

Q: What is the flexible budget variance for direct labor

A: Concept of Flexible BudgetA flexible budget is a budget that adjusts based on actual levels of…

Q: Quick answer of this accounting questions

A: Step 1: Definition of Degree of Operating Leverage (DOL)The degree of operating leverage (DOL) is a…

Q: final answer is accounting

A: Step 1: Definition of Warranty LiabilityWarranty liability represents the estimated cost a company…

Q: Landon Enterprises reported the following financial data: Sales: $150,000 Total Assets: $90,000…

A: Step 1: Definition of Total Asset Turnover RatioThe Total Asset Turnover Ratio measures how…

Q: Need help this question

A: Step 1: Definition of Cost-Volume-Profit (CVP) AnalysisThe CVP analysis is used to compute the units…

Q: hello teacher please solve questions

A: To calculate Sunrise Coffee's beta and the risk premium in the market, we use the Capital Asset…

Q: What was Ronny Electronics sales price variance?

A: Step 1:Introduction of topic Variance analysis is a method of comparison of actual data and budgeted…

Q: Baxter Sports Ltd. of Australia manufactures sporting equipment. One of the company's products, a…

A: Explanation of Standard Cost:Standard cost represents the expected cost a company assigns to…

Q: What markup percentage is the company using for this financial accounting?

A: Step 1: Define Markup PercentageMarkup percentage is the percentage increase in the cost price of a…

Q: Kindly help me with of this general accounting question

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

Q: Determine company's operating leverage

A: To determine Operating Leverage, we use the Degree of Operating Leverage (DOL) formula:DOL =…

Q: provide answer of this General accounting question

A: Step 1: Definition of Interest ExpenseInterest expense is the cost incurred by a company for…

Q: Hi expert please help me this question

A: To estimate the maintenance cost using the high-low method, we need to find the variable cost per…

Q: Help this question accounting

A: Step 1: Definition of Manufacturing Overhead CostsManufacturing overhead costs are indirect costs…

Q: Calculate the amount of goodwill.

A: Step 1: Definition of GoodwillGoodwill is an intangible asset that represents the excess value of a…

Q: What is the level of its account receivable?

A: Explanation of Days Sales Outstanding (DSO):Days Sales Outstanding (DSO) is a financial metric that…

Q: Financial information for Crow Enterprises is presented below: Operating Expenses: $45,000 . Sales…

Q: The degree of operating leverage for

Q: Accounting

A: Step 1: Calculation of Gross ProfitGross Profit = Sales - Cost of Goods SoldGross Profit = $300,000…

Q: MCQ

A: Explanation of Variable Costing:Variable costing is a cost accounting method that includes only…

Q: Financial accounting

A: Step 1: Understanding the Given DataThe problem provides the following financial details for…

Q: Outback Camera Co

A: The estimated cost of future warranty repairs for defective products that have been sold but not yet…

Q: hi expert given answer of this general accounting question

A: Step 1: Define Contribution Margin AnalysisContribution margin analysis determines the impact of…

Q: How much was the material price variance?

A: Explanation of Standard Price: Standard price represents the predetermined cost per unit of a…

Q: Do fast answer of this general accounting question

A: Step 1: Definition of Relevant Cost AnalysisRelevant cost analysis is a decision-making approach…

Q: Cost of goods manufactured is

A: Step 1: Definition of Cost of Goods ManufacturedThe cost of goods manufactured (COGM) is the total…

Q: Find correct answer please

A: The Price/Earnings (P/E) ratio is calculated using the formula:P/E=Earnings per Share (EPS)Market…

Q: financial account

A: To calculate the Weighted Average Cost of Capital (WACC), we use the formula:WACC = (E/V) × Re +…

Q: the cost of the land recorded by garrett on the purchase date is

A: Step 1: Definition of Cost of LandBased on the type of asset and its condition, the cost of an…

Q: Actual return on plan assets for

A: The actual return on plan assets can be calculated as follows:Actual Return=Expected…

Q: Determine the amount of cash receivable

A: Explanation of Sales Reported:Sales reported refer to the total revenue recognized by a company…

Q: return on equity (ROE)

A: 1. Current RatioCurrent Ratio = Current Assets / Total Current Liabilities= 9,520 / 9,800= 0.972.…

Q: Solve this questions

A: Step 1: Definition of Variable CostVariable costs change in direct proportion to the level of…

Q: Subject: financial accounting

A: Explanation of Return on Equity (ROE): Return on Equity is a financial ratio that measures a…

Q: Regent Corp uses the straight-line method. Assets purchased between the 1st and 15th of the month…

A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method used to allocate…

Q: What is the answer

A: Below are the step-by-step explanations to the answers:1. Answer: (a) $3,900.22Step-by-step…

Q: Calculate equity multiplier, debt ratio and return on equity accounting question

A: Step 1: Definition of Key RatiosEquity Multiplier - Measures financial leverage and indicates how…

Q: If Ram Nation can give up one unit of future consumption and as a result increase its current…

A: To find the true rate of interest from the given data, let's consider the situation step by…

Q: what is the total net gain or loss on this transaction?

A: Given Data:Contract Size: $1,000,000Buy Price (Long Position Entry): 96.22Sell Price (Exit…

Q: Financial information for Crow Enterprises is presented

A: Step 1: Calculation of Net IncomeNet Income = Sales Revenue - Cost of Goods Sold - Operating…

Q: What is the gross profit margin

Q: Return on equity accounting question

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

Q: hello teacher please solve account questions

A: Step 1: Definition of Beta and Risk PremiumBeta (β): Measures a stock's volatility relative to the…

Question

Answer this question

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?

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

Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?
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.
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.
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?
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?
How many time par year does the company turn over its accounts receivable?
Solve this question general Accounting
What is it's accounts receivable balance on these general accounting question?
What is the firm's accounts receivable balance based on a 365- day year on these accounting question?
Yom Electronics has an accounts receivable turnover for the year of 8.2. Net sales for the period are $120,000. What is the number of days' sales in receivables?
Please give me answer general accounting
The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of $55200 and $27600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)