Homework Answers
| Average collection period = ( Accounts receivables / Quarterly sales ) * Days in a quarter = ( $80 million / $112.5 million ) * 90 days | 64.0 | days |
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At the end of the 1st Quarter, Acme Medical Center had $80 million in accounts receivable...
At the end of the 1st Quarter, Acme Medical Center had $80 million in accounts receivable on the balance sheet. Dur...
At the end of the 1st Quarter, Acme Medical Center had $80 million in accounts receivable on the balance sheet. During the 1st Quarter, Acme generated $112.5 million in sales revenue. Giver there are 90 days in the 1st Quarter, what was the average collection period (ACP)? O 45.0 days O 72.1 days O 126.6 days O 64.0 days
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of...
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of $299,875. The table also shows how much of the receivables balance originated in each of the previous six months. The company had annual sales of $2.40 million and it normally extends 30-day credit terms to its customers. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the...
The Manana Corporation had sales of $81.3 million this year. Its accounts receivable balance averaged $3.3...
The Manana Corporation had sales of $81.3 million this year. Its accounts receivable balance averaged $3.3 million. How long, on average, does it take the firm to collect on its sales? (Hint: Use 365 days for a year.) The collection period is ____days. (Round to one decimal place.)
During 2017, Columbia Inc. had beginning accounts receivable of $680,000 and ending accounts receivable of $760,000....
During 2017, Columbia Inc. had beginning accounts receivable of $680,000 and ending accounts receivable of $760,000. Its net sales of $4,500,000 are composed of 20% cash sales and 80% credit sales. Based on this information, what is Columbia's average collection period? Group of answer choices 58.4 days 292.0 days 73.0 days 5.0 days None of the answer choices is correct.
In april, Alexander inc. had $3,875 million in sales and $990 million in accounts receivable. For...
In april, Alexander inc. had $3,875 million in sales and $990 million in accounts receivable. For the same period, mattel had $4,595 million in sales and $834 million in account receivable. calaculate the days sales uncollected for both companies. a) which company appears to be doing better job in managing collection of its receivables (all other things assumed to be equal)? b) explain and justify your answer with calculation of at least two relevant ratios you have learned in this...
Sabby Inc. has net credit sales of $2.4 million. Its opening accounts receivable is $545,000 and...
Sabby Inc. has net credit sales of $2.4 million. Its opening accounts receivable is $545,000 and its ending accounts receivable is $525,000. What is the average collection period? 1.O 81 days 02. O 82 days 03. O 83 days 04.80 days
created by Ann Parsons JESTION #6 $3875 million in sales and S990 million in accounts receivable....
created by Ann Parsons JESTION #6 $3875 million in sales and S990 million in accounts receivable. For the same period, In December, Hasbro had $3,875 million in sales and $99 Mattel had $4.595 million in sales and 3834 million in account million in sales and 5634 million in accounts receivable. Calculate the days' sales camnanies. Which company is doing a better job in managing collection of its receivables uncollected for both companies. Which company is doing a better Hasbro -...
This table (pictured), shows that Blair Supply had an end-of-year accounts receivable balance of $300,035. The...
This table (pictured), shows that Blair Supply had an end-of-year
accounts receivable balance of $300,035. The table also shows how
much of the receivables balance originated in each of the previous
six months. The company had annual sales of $2.40 million and it
normally extends 30-day credit terms to its customers.
a. Use the year-end total to evaluate the firm’s collection
system.
b. If 70% of the firm’s sales occur between July and December,
would this affect the validity of...
Wildhorse Co. had a balance in the Accounts Receivable account of $768000 at the beginning of...
Wildhorse Co. had a balance in the Accounts Receivable account of $768000 at the beginning of the year and a balance of $865000 at the end of the year. Net credit sales during the year amounted to $6532000. The average collection period of the accounts receivable in terms of days was 91.3 days. 35.0 days. 45.6 days. 48.0 days.
In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.
In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)Accounts receivable turnover _____ timesCalculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)Average collection period _____ days
At the end of the 1st Quarter, Acme Medical Center had $80 million in accounts receivable on the balance sheet. During the 1st Quarter, Acme generated $112.5 million in sales revenue. Giver there are 90 days in the 1st Quarter, what was the average collection period (ACP)? O 45.0 days O 72.1 days O 126.6 days O 64.0 days
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of $299,875. The table also shows how much of the receivables balance originated in each of the previous six months. The company had annual sales of $2.40 million and it normally extends 30-day credit terms to its customers. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the...
Sabby Inc. has net credit sales of $2.4 million. Its opening accounts receivable is $545,000 and its ending accounts receivable is $525,000. What is the average collection period? 1.O 81 days 02. O 82 days 03. O 83 days 04.80 days
created by Ann Parsons JESTION #6 $3875 million in sales and S990 million in accounts receivable. For the same period, In December, Hasbro had $3,875 million in sales and $99 Mattel had $4.595 million in sales and 3834 million in account million in sales and 5634 million in accounts receivable. Calculate the days' sales camnanies. Which company is doing a better job in managing collection of its receivables uncollected for both companies. Which company is doing a better Hasbro -...
This table (pictured), shows that Blair Supply had an end-of-year
accounts receivable balance of $300,035. The table also shows how
much of the receivables balance originated in each of the previous
six months. The company had annual sales of $2.40 million and it
normally extends 30-day credit terms to its customers.
a. Use the year-end total to evaluate the firm’s collection
system.
b. If 70% of the firm’s sales occur between July and December,
would this affect the validity of...
Wildhorse Co. had a balance in the Accounts Receivable account of $768000 at the beginning of the year and a balance of $865000 at the end of the year. Net credit sales during the year amounted to $6532000. The average collection period of the accounts receivable in terms of days was 91.3 days. 35.0 days. 45.6 days. 48.0 days.
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