Zucha Corporation has an inventory period of 55 days, an accounts receivable period of 6 days, and an accounts payable period of 3 days. The company's annual sales are $182,795. How many times per year does the company turn over its accounts receivable?

Zucha Corporation has an inventory period of 55 days, an accounts receivable period of 6 days, and an accounts payable period of 3 days. The company's annual sales are $182,795. 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: A business purchases a machine for $12,000 and expects it to have a useful life of 5 years with a…

A: Concept of Depreciation: Depreciation is the process of allocating the cost of a tangible asset over…

Q: I won't to this question answer general accounting question

A: Step 1: Define Capital Gain YieldThe capital gain yield is the capital gain earned from a stock…

Q: If variable manufacturing

A: Step 1: Define Absorption Costing ConceptAbsorption costing is the costing method prescribed by the…

Q: Owners' equity at the end of the start of the period is 35,000 and net income for the period is…

A: Step 1: Information givenBeginning owners' equity = $35,000Net income = $30,000Additional…

Q: Get Correct general account answer

A: To calculate Logan Company's equity at the end of the year, we use the accounting equation:…

Q: What was the company's turnover rounded to the nearest tenth on these general accounting question?

A: Step 1: Definition of Turnover RatioThe turnover ratio measures how efficiently a company utilizes…

Q: What is it's ROE on these financial accounting question?

A: Step 1: Define Asset TurnoverInvestors use asset turnover to determine the revenue generated by a…

Q: General accounting

A: 1. Manufacturing MarginManufacturing Margin=Sales−Variable Cost of Goods SoldManufacturing…

Q: Warehouse has net working capital of $3,600, total assets of $23,700, and net fixed assets of…

A: Explanation of Net Working Capital:Net Working Capital (NWC) is the difference between a company's…

Q: Financial accounting question

A: Step 1: Define Holding Period ReturnThe holding period return of a financial instrument can be…

Q: Calculate free cash flow?

A: Free Cash Flow (FCF) CalculationFree Cash Flow (FCF) measures the cash a company generates from its…

Q: What is the net income percentage on these general accounting question?

A: Step 1: Define Net Income PercentageThe Net Income Percentage, also known as the Profit Margin, is a…

Q: What was the company's net income?

A: Step 1: Define The Income StatementThe income statement is a financial report that is issued for…

Q: Help

A: Explanation of Net Cash Provided by Operating ActivitiesNet cash provided by operating activities…

Q: Please answer the accounting question

A: Step 1: Define Ending Cash BalanceThe ending cash balance is the total amount of cash a company has…

Q: I want to correct answer accounting questions

A: Step 1: Define Accounts Receivables Turnover:Accounts receivable turnover is an activity ratio which…

Q: Accounting question

A: Present Value of Perpetuity = Cash Flow/Interest Rate 3,000 = 240/Interest Rate Interest Rate =…

Q: Not use ai solution given answer general Accounting

A: Step 1: Define Absorption CostingIn cost accounting, absorption costing refers to the proper…

Q: Consider a non-current liability that has resulted in a tax liability for Falko Inc. in its 2018…

A: Understanding Deferred Tax LiabilitiesA deferred tax liability (DTL) arises when there are temporary…

Q: Financial Accounting Question

A: Step 1: Define Average Price Paid for a Share of Common StockThe average price paid by stockholders…

Q: Given the following cost and activity solution general accounting question

A: Step 1: Define High-Low MethodThe high-low method is the cost-splitting method which is used when…

Q: What was the net income for the year? General accounting

A: Step 1: Define Net IncomeThe net income is the residual revenue left with the business after the…

Q: A company’s beginning inventory is $13,000, purchases during the period are $33,000, and the ending…

A: Concept of Beginning Inventory:The beginning inventory refers to the value of a company's stock of…

Q: General Accounting

A: To calculate the required rate of return on Clover Dairy's stock, we use the Capital Asset Pricing…

Q: The following refers to units processed by an ice cream maker in July. Beginning work in process…

A: Step 1: Understand the Weighted Average MethodThe total equivalent units of production include:Units…

Q: What is the average collection period for accounts receivable in days on these general accounting…

A: Step 1: Define Activity RatiosActivity ratios are one category of financial ratios. They indicate…

Q: Which of the following statements is true of this transaction?

A: Explanation:When Joey Corporation borrows $500,000 from the bank:Cash increases by $500,000 (an…

Q: Inacio Corporation uses the weighted-average method in its process costing system. Data concerning…

A: Step 1: Key DataBeginning Work-in-Process Inventory:Units: 2,500Materials cost: $14,600Percent…

Q: During April, the first production department of a process manufacturing system completed its work…

A: To calculate the equivalent units of production (EUP) for materials and conversion costs using the…

Q: Don't use ai given answer accounting questions

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

Q: Fatima Engine Shop uses a job order cost system to determine the cost of performing engine repair…

A: Explanation of Overhead Costs:Overhead costs include indirect expenses that cannot be directly…

Q: Solve this problem

A: Explanation of Total Equity: Total equity, also known as shareholders' equity or net worth,…

Q: Accounting question

A: A) B) As per CAPM-Required return on portfolio = Risk-free rate + Beta*Market risk premiumRequired…

Q: General Accounting

A: Step 1: Define Operating Cash Flow (OCF)Operating Cash Flow (OCF) refers to the amount of cash…

Q: Financial Accounting

A: To calculate the required rate of return on Clover Dairy's stock, we use the Capital Asset Pricing…

Q: The Smith company uses standerd costing

A: Step 1: Definition of Material Price VarianceMaterial Price Variance measures the difference between…

Q: General accounting

A: Step 1: Define Discount NotesDiscount Motes are short-term debt instruments that are issued by the…

Q: None

A: Degree of Operating Leverage = Contribution Margin/Operating IncomeDegree of Operating Leverage =…

Q: Given the abov information, net income for the year is ???

A: Step 1: Define Net IncomeIn simple terms, the net income of a company is the difference between…

Q: T-REX manufacturing had total manufacturing costs are $418,000

A: Explanation of Beginning Work-in-Process (WIP) Inventory:Beginning Work-in-Process (WIP) inventory…

Q: Please provide this question solution general accounting

A: Step 1: Identify the Gross Margin Formula Step 2: Identify the Variables Step 3: Substitute the…

Q: Mama Roach Exterminators, Inc., has sales of $635,000, costs of $421,000, depreciation expense of…

A: Explanation of Sales:Sales represent the total revenue earned by a company from providing goods or…

Q: Need help with this accounting questions

A: Step 1: Definition of Straight-Line DepreciationStraight-line depreciation is a method used to…

Q: Subject - General Account..

A: Step 1: Introduction to inventory valuationInventory valuation is referred to as that method which…

Q: If a company’s revenue is $65,000, the cost of goods sold is $38,000, and operating expenses are…

A: Concept of RevenueRevenue refers to the total income a company earns from its business activities…

Q: Crish Industries makes heavy construction equipment. The standard for a particular crane calls for…

A: Explanation of Labor Efficiency Variance:Labor Efficiency Variance measures the deviation between…

Q: The Moore Company has sales of $500,000 that are recorded for book purposes in 2014. For tax…

A: Step 1: Understand the scenarioRevenue difference: In 2014, the company reports $500,000 in sales…

Q: General Account

A: We are tasked with calculating the average cost per visit for 25,000 visits at ACME Clinic, using…

Q: Hello.tutor please provide correct answer general Accounting question

A: Step 1: Define Variable CostingVariable Costing classifies costs as to fixed and variable. All…

Q: Kindly help me with accounting questions

A: Step 1: Definition of Maturity ValueMaturity value is the total amount payable on a promissory note…

Question

Solve this question general Accounting

Zucha Corporation has an inventory period of 55 days, an
accounts receivable period of 6 days, and an accounts
payable period of 3 days. The company's annual sales are
$182,795. 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

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, 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.
What is the firm's accounts receivable balance based on a 365- day year on these accounting question?
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.
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
At the beginning of the current year, Jamin Company had a credit balance of P260,000 in the allowance for uncollectible accounts. Based on the past experience, 2% of credit sales would be uncollectible. During the current year, the entity wrote off P325,000 of uncollectible accounts. Credit sales for the year totaled P9,000,000. What Is the uncollectible accounts expense for the year?
A company is getting ready to publish their annual financial statements. They have the following beginning balances: Beginning balance for gross accounts receivable (A) $2,000 beginning balance for Allowance for doubtful accounts (XA) $300 question: now supposed that the company recorded $50 in write-offs for the current accounting period. if the company makes $10,000 in credit sales in the current period. Assume that 1% of credit sales are typically not collectible, using the income statement method, what is the bad expense now? please show work so I can understand the problem
On December 31, Albertson Corporation had $65,000 in accounts receivable. The company estimates that 10% will be uncollectible. The present balance in Allowance for Uncollectible accounts is $3,000. What is the amount of bad debt expense that should be recorded for the year?
ABCD Corporation has credit sales of $10,640,000 and receivables of $1,520,000. a. What is the receivables turnover?b. What is the average collection period (days sales outstanding)?c. If the company offers credit terms of 30 days, are its receivables past due?
I need help with this problem
ABC Company has an accounts receivable balance of $50,000 at the beginning of the year and $70,000 at the end of the year. During the year, the company wrote off $5,000 in uncollectible accounts and recorded $10,000 in bad debt expense. What was the company's net realizable value of accounts receivable at the end of the year?