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goldfiish [28.3K]
2 years ago
13

The following information is taken from Reagan Company's December 31 balance sheet: Cash and cash equivalents $ 9,119 Accounts r

eceivable 73,922 Merchandise inventories 63,862 Prepaid expenses 4,800 Accounts payable $ 15,650 Notes payable 90,138 Other current liabilities 10,200 If net sales for the current year were $608,000, the firm's days' sales uncollected for the year is: (Use 365 days a year.)
Business
1 answer:
lozanna [386]2 years ago
4 0

Answer:

40 days.

Explanation:

In the absence of the information about opening receivables, the closing figure is assumed to be the average accounts receivables,

Hence,

Debtors Turnover Ratio for Reagan:

= Sales ÷ Average Accounts Receivables

= $608,000 ÷ $73,922

= 8.22 times

Assuming that the number of days in a year as 365,

the firm's days sales uncollected for the year works out to:

= 365 days ÷ Debtors Turnover Ratio

= 365 ÷ 8.22

= 40.40 or 40 days.

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At the beginning of Year 2 , Benson Company had beginning inventory of 150 units that cost $200 each. During Year 2, Benson made
lawyer [7]

Answer:

$63,600

Explanation:

Th weighted average method is one that ensures that all the various prices at which inventory is bought is considered to determining the price at which inventory is issued.

Amount of Inventory at

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Total quantity (before sales) = 150 + 500 + 350 = 1000 units

Weight average cost per unit = $212,000/1000 = $212

The 700 units sold will be value at $212 per unit.

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Closing inventory amount = $212,000 - $148,400

= $63,600

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Doughton Furniture Company purchased merchandise on credit from Furniture Supply for $8,000. Two days later Doughton returned $2
sleet_krkn [62]

Answer:

E) General journal

Explanation:

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2 years ago
Jake Entertainment Corporation has three segments with revenue, operating income, and depreciation and amortization information
frosja888 [35]

Answer:

Video Games = 35%

Explanation:

As for the provided information, we have:

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Therefore:

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For each segment the calculation shall be:

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Since the highest percentage is that of video games, it is the most productive.

The options provided do not relate to this question.

8 0
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All OSHA-covered organizations are required to have _____.
Marta_Voda [28]

Answer:

a safety manual

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Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved
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Answer:

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