Intermediate Financial Management (MindTap Course List)
12th Edition
ISBN: 9781285850030
Author: Eugene F. Brigham, Phillip R. Daves
Publisher: Cengage Learning
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Textbook Question
Chapter 7, Problem 1P
Greene Sisters has a DSO of 20 days. The company’s average daily sales are $20,000. What is the level of its accounts receivable? Assume there are 365 days in a year.
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Greene Sisters has a DSO of 20 days. The company’s average daily salesare $20,000. What is the level of its accounts receivable? Assume there are365 days in a year.
Medwig Corporation has a DSO of 17 days. The company averages $8,500 in sales each day (all customers take credit). What is the company's average accounts receivable? Assume a 365-day year. Round your answer to the nearest dollar.
Baxley Brothers has a DSO of 46 days, and its annual sales are $5,840,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest cent.
Chapter 7 Solutions
Intermediate Financial Management (MindTap Course List)
Ch. 7 - Define each of the following terms:
Liquidity...Ch. 7 - Financial ratio analysis is conducted by managers,...Ch. 7 - Prob. 3QCh. 7 - Profit margins and turnover ratios vary from one...Ch. 7 - How might (a) seasonal factors and (b) different...Ch. 7 - Why is it sometimes misleading to compare a...Ch. 7 - Greene Sisters has a DSO of 20 days. The companys...Ch. 7 - Vigo Vacations has $200 million in total assets,...Ch. 7 - Winston Watch’s stock price is $75 per share....Ch. 7 - Reno Revolvere has an EPS of $1.50, a cash flow...
Ch. 7 - Needham Pharmaceuticals has a profit margin of 3%...Ch. 7 - Prob. 6PCh. 7 - Ace Industries has current assets equal to 3...Ch. 7 - Prob. 10PCh. 7 - The Kretovich Company had a quick ratio of 1.4, a...Ch. 7 - Prob. 13PCh. 7 - Prob. 14PCh. 7 - Prob. 1MCCh. 7 - Prob. 2MCCh. 7 - Prob. 3MCCh. 7 - Prob. 4MCCh. 7 - Prob. 5MCCh. 7 - Prob. 6MCCh. 7 - Prob. 7MCCh. 7 - Prob. 8MCCh. 7 - Prob. 9MCCh. 7 - Prob. 10MC
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- 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?arrow_forwardNegus 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?arrow_forwardBaxley Brothers has a DSO of 20 days, and its annual sales are $10,585,000. What is its accounts receivable balance? Assume that it uses a 365-day year. Round your answer to the nearest dollararrow_forward
- Medwig Corporation has a DSO of 24 days. The company averages $7, 750 in sales each day ( all customers take credit). What is the company's average accounts receivable? Assume a 365 day year. Round your answer to the nearest dollar. $arrow_forwardBaxley Brother has a DSO of 23 days, and its annual sales are $3,650,000. What is its accounts receivable balance? Assume that is uses a 365 day year. I must show the work. How you arrive at the answer.arrow_forwardMedwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all customers take credit). What are the company’s average accounts receivable?arrow_forward
- 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.arrow_forwardB&B Mining has a DSO of 40 days, and its annual sales are 7,300, 000. What is its accounts receivable balance? Assume that it uses a 365-day year.arrow_forwardRayhan Company has an average collection period of 55 days. The annual sales is 8,500,000. What is the accounts receivable?arrow_forward
- What is the DSO?arrow_forwardTulips Company has a DSO of 40 days, and its annual sales are P7,300,000. What is its accounts receivable balance? Assume that it uses a 365-day year.arrow_forwardMRK corporation has a DSO of 35 days. The company's annual credit sales are $10 million. What is the level of its accounts receivable? Assume there are 365 days in a year.? Group of answer choices $350 million $958, 904 $400 million $1,369, 863arrow_forward
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