A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

Question

Question

A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000, average inventory $8,000, and accounts receivable $10,000. What is its number of days' sales uncollected?

	a.	30 days
	b.	7.3 days
	c.	18.25 days
	d.	25 days

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Answer: B) 7.3 Days

Number of Days Sales Uncollected = (Accounts receivables / Net Sales )*365 Day

=(10,000/ 500,000) * 365 Days = 7.3 Days

Days Sales are Uncollected is 7.3 Days

Add a comment

Answer 2

Similar Homework Help Questions

Sales for a firm are $500,000, cost of goods sold are $290,000, operating expenses are $10,000,...

Sales for a firm are $500,000, cost of goods sold are $290,000, operating expenses are $10,000, depreciation is $15,000 and interest expenses are $20,000. What is the gross profit amount? A. $165,000 B. $180,000 C. $185,000 D. $200,000 E. $210,000 The 2017 financial statements Hard Locks, Inc. reported net income equal to $190,000, interest expense was $60,000, taxes were $70,000, and depreciation was $45,000. How much was the firm’s operating profit if sales were $490,000? A. $365,000 B. $320,000 C....
DATA Sales $500,000 Cost of goods sold $100,000 General and administrative expenses $60,000 Depreciation expenses 9,000...

DATA Sales $500,000 Cost of goods sold $100,000 General and administrative expenses $60,000 Depreciation expenses 9,000 Interest expense 11,000 Income taxes 99,200 Given the information above, please prepare a) the income statement in good form, (b) the common-sized income statement.
Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of...

Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of $46,000, average invested assets of $2,200,000, and a hurdle rate of 10 percent. Required: 1. Determine Solano’s return on investment (ROI), investment turnover, profit margin, and residual income. 2. Several possible changes that Solano could face in the upcoming year follow. Determine each scenario’s impact on Solano’s ROI and residual income. (Note: Treat each scenario independently.) a. Company sales and cost of goods sold...

Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of...

Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of $46,000, average invested assets of $2,200,000, and a hurdle rate of 10 percent. Required: 1. Determine Solano’s return on investment (ROI), investment turnover, profit margin, and residual income. 2. Several possible changes that Solano could face in the upcoming year follow. Determine each scenario’s impact on Solano’s ROI and residual income. (Note: Treat each scenario independently.) a. Company sales and cost of goods sold...
Solano Company has sales of $760,000, cost of goods sold of $500,000, other operating expenses of...

Solano Company has sales of $760,000, cost of goods sold of $500,000, other operating expenses of $40,000, average invested assets of $2,250,000, and a hurdle rate of 11 percent. Required: 1. Determine Solano's return on investment (ROI), investment turnover, profit margin, and residual income. (Do not round your intermediate calculations. Enter your ROI and Profit Margin percentage answer to the nearest 2 decimal places, (i.e., 0.1234 should be entered as 12.34%). Round your Investment Turnover answer to 4 decimal places.)...
Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts...

Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts Receivable---$65,000 Accrued Liabilities----$38,000 Cash----$30.000 Inventory----$72,000 Equipment----$150,000 Land/Building----$625,000 What is the amount of Quick Assets? O a. $205,000 O b. $203.000 O c. $131,000 O d. $ 66,000

Merchandise Inc. has prepared the Income statement including the following data: Sales $100,000 Cost of Goods...

Merchandise Inc. has prepared the Income statement including the following data: Sales $100,000 Cost of Goods Sold $75,000 Gross Profit $25,000 Expenses $10,000 Net Profit $15,000 The comparative balance sheet shows the following data (by definition, accounts payable relates to merchandise purchases only): End of Year Beginning of Year Accounts Receivables (net) $7,000 $8,000 Inventory $3,000 $2,000 Prepaid Expenses $2,000 $1,000 Accounts Payable $1,000 $1,500 REQUIRED 1) Determine the amount of Cash received from Customers. 2) Determine the amount of...
o reported the following for the current year Net sales Cost of goods sold Beginning balance...

o reported the following for the current year Net sales Cost of goods sold Beginning balance in accounts receivable Ending balance in accounts receivable $75,950 $53,000 $17,000 $ 7,500 Compute (a) accounts receivable turnover and (b) days' sales uncollected. Hint. Recall that accounts receivable turnover uses average accounts receivable, and days' sales uncollected uses the ending balance in accounts receivable. Complete this question by entering your answers in the tabs below. Accounts Receivable Turnover Days Sales Uncollected Compute the accounts...
A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000,...

A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000, and other expenses of $5,000. The company's net income IS: A. OB. O C. OD, $78,000. $128,000. $34,000. $73,000. A customer purchased items on account from Silverfish, Inc. After a few days, the customer returned the goods. Silverfish, Inc. will issue a: OA. debit memorandum. OB, return receipt. C. credit memorandum O D. refund check. Companies that want a "middle ground" solution to net...

Sales Revenue $ 200,000 Cost of Goods Sold 106,000 Gross Profit 94,000 Less: Operating Expenses Selling...

Sales Revenue $ 200,000 Cost of Goods Sold 106,000 Gross Profit 94,000 Less: Operating Expenses Selling expense 16,000 General and administrative expense 10,000 Lease expense 1,000 Depreciation expense 10,000 Total Operating Expenses 37,000 Operating Profits 57,000 Interest Expense 6,100 Net Profit before Taxes 50,900 Less: Taxes 4,360 Net Profit After Taxes 46,540 Q. Find the operating cash flow. Please show work on how to get the answers because It will still be wrong without the work shown. Thank you.

A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

Homework Answers

Add Answer to:
A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

Post as a guest

Earn Coins

Sales for a firm are $500,000, cost of goods sold are $290,000, operating expenses are $10,000,...

DATA Sales $500,000 Cost of goods sold $100,000 General and administrative expenses $60,000 Depreciation expenses 9,000...

Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of...

Solano Company has sales of $740,000, cost of goods sold of $490,000, other operating expenses of...

Solano Company has sales of $760,000, cost of goods sold of $500,000, other operating expenses of...

Notes Payable--$105.000 Marketable securities--$36.000 Prepaid Expenses----$2.000 Sales---$500,000 Cost of Goods Sold---$300,000 Operating Expenses----$155,000 Accounts Payable---$40,000 Accounts...

Merchandise Inc. has prepared the Income statement including the following data: Sales $100,000 Cost of Goods...

o reported the following for the current year Net sales Cost of goods sold Beginning balance...

A company has net sales of $222,000, cost of goods sold $89,000, operating expenses of $55,000,...

Sales Revenue $ 200,000 Cost of Goods Sold 106,000 Gross Profit 94,000 Less: Operating Expenses Selling...

A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

Homework Answers

Add Answer to: A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...

Post as a guest

Earn Coins

Add Answer to:
A company has the following data: sales $500,000, cost of goods sold $200,000, operating expenses $100,000,...