answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kupik [55]
2 years ago
5

Mr. Sparks, the owner of School Supplies, Inc., is interested in keeping control over accounts receivable. He understands that a

ccounts receivable turnover will give a good indication of how well receivables are being managed. School Supplies, Inc. does seventy percent of its business during June, July and August. The terms of sale are 2/10, n/60. Net sales for the year ended December 31, 2019, and receivables balances are:
Net Sales = $1,500,000;
Receivables at January 1, 2019 = $80,000;
Receivables at December 31, 2019 = $70,000.
1. What is the average accounts receivable turnover calculated from the data above?
Answers:
a. 20.0 times
b. 25.0 times
c. 22.7 times
d. 18.75 times
Business
1 answer:
PtichkaEL [24]2 years ago
5 0

Answer:

A

Explanation:

Given:

Net sales = $1,500,000

Receivables at January 1, 2019 = $8,000

Receivables at December 31, 2019 = $10,000

NOTE: That is the actual value of the receivables which will give the answer listed in the options according to the question.

Average receivable is given by

((70000 + 8000) + (60000 + 10000))/2

= $75,000

Hence, receivable turnover = net sales / average receivables

= 1,500,000 / 75,000

= 20.0 times

You might be interested in
Consider the following data on U.S. GDP: Year GDP (Billions of current dollars) (Billions of 2012 dollars) 2014 17,521.7 16,899.
saul85 [17]

Answer:

= 5.18%

2.88%

True

Explanation:

Nominal GDP is GDP calculated using current year prices

Change in nominal GDP from 2017 to 2018 = 20,494.1 /  19,485.4 - 1 = 0.0518 = 5.18%

Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation

The percentage change in real GDP from 2014 to 2015 = 17,386.7 / 16,899.8 - 1 = 0.0288 = 2.88%

percentage change in real GDP from 2015 to 2016 = 17,659.2 / 17,386.7 - 1 = 1.57%

The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016

5 0
2 years ago
Jeff jones earns $1,200 per week. he is married and claims four withholding allowances. the social security rate is 6.2% on $118
myrzilka [38]
<span>Answer: Gross Pay: $1200 Less Health Ins: (42.50) Taxable Pay: 1157.50 SS Tax: 71.77 (1157.50 *.062) Medicare Tax: 16.78 (1157.50 *.0145) FIT: 91.79 Net Pay: 977.17 FIT calcualted as follows: Taxable less allowances (1157.50 less (71.15*4) = 872.9 (872.9 * .15)-39.15 = 91.79</span>
4 0
2 years ago
Vinnie (our friend in the video) had a lot of credit cards, and he did have fun with them! Then he nearly went broke. What was t
anyanavicka [17]

The main thing Vinnie did wrong was have multiple credit cards, and it say sin the question 'had fun with them' he probably did not monitor how much money he was spending.

8 0
2 years ago
Use the following information . On January 1, 2018, Dennis Company purchased land for an office site by paying $540,000 cash. De
FromTheMoon [43]

Answer:

$82,800

Explanation:

The computation of the amount of interest cost to be capitalized during 2018 is shown below:-

Amount of interest cost to be capitalized = (Borrowed amount × Rate of interest) + ($300,000 ÷ 2 × Rate of interest)

= ($720,000 × 9%) + ($150,000 × 12%)

= $82,800

Therefore for computing the amount of interest cost to be capitalized during 2018 we simply applied the above formula.

8 0
2 years ago
A company offered one half of its employees a bonus if the production of light bulbs increased by 30%. The other half of the emp
ZanzabumX [31]
Based on the statement above their need to separate the employee first because there is an employee get bonus and dont. so the correct order of steps to determine the significant result are: c. B,E,D,C,A

hope this help
8 0
2 years ago
Other questions:
  • ___ involves defining and documenting the features and functions of the products produced during the project as well as the proc
    6·1 answer
  • Gerome is the human resource manager at his company. He is systematically studying positions to determine their various elements
    13·1 answer
  • DuBois, Inc. announces a large stock dividend of 65% of the 4.96 million outstanding shares of common stock. The current price p
    11·1 answer
  • Evaluate the current China/Taiwan logistics costs. Assume a current total volume of 190,000 CBM and that 89 percent is shipped d
    15·1 answer
  • Antonio tries to limit his risk of overexposure to debt by using a ________________ to store a certain amount of value that he t
    15·1 answer
  • Hokey​ Min's Kleen Karpet cleaned 85 rugs in​ October, consuming the following​ resources: ​Labor: 520 hours at ​$17 per hour ​S
    14·1 answer
  • Tyree is starting a new project and wants an advisory board, as this project will affect many people and hearing the opinions of
    8·1 answer
  • If a pair of shoes in the United States costs $45, and a pair of the exact same shoes is sold in Mexico for 430 pesos while the
    12·1 answer
  • Based on the projections, Decker will have a. a financing deficit of $36 b. a financing surplus of $36 c. zero financing surplus
    10·1 answer
  • Strongheart Enterprises anticipated selling 27,000 units of a major product and paying sales commissions of $6 per unit. Actual
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!