User Account

All Pages

Determine the days sales in receivables

Assignment Help Accounting Basics
Reference no: EM132481268

Accounts receivable turnover and days' sales in receivables

Financial statement data for years ending December 31 for Chiro-Solutions Company follow:

 

20Y2

20V1

Sales

$2,912,000

$2,958,000

Accounts receivable:

 

 

Beginning of year

300,000

280,000

End of year

340,000

300,000

Question a. Determine the accounts receivable turnover for 20Y2 and 20Y1. If required, round the final answers to one decimal place.

Question b. Determine the days' sales in receivables for 20Y2 and 20Y1. Use 365 days, if required round the final answers to one decimal place

Reference no: EM132481268

Questions Cloud

What is the net operating loss : What is the Net Operating loss? Break even point in units? Break even point in dollar sale? what selling price per unit would the company generate this profit
What is the operating cash flow : A project has annual depreciation of $19,500, costs of $92,900, and sales of $135,500. The applicable tax rate is 34 percent. What is the operating cash flow?
Explain why separation of duties is often : Explain why separation of duties is often described as the cornerstone of internal control for safeguarding assets. Describe what can happen
Determine the amount of the adjusting entry : Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Determine the net realizable value of accounts
Determine the days sales in receivables : Determine the days' sales in receivables for 20Y2 and 20Y1. Use 365 days, if required round the final answers to one decimal place
What is the purchase price : The sales quote consists of quarterly payments of $37,200 for five years at 7.6% interest. What is the purchase price?
Determine the amount of the adjusting entry : Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Determine the net realizable value of accounts
How many years can you continue to make withdrawls : You invested 15,000 in an account that earns 13.3% compounded annually. At the end of each year you can withdraw $4,971. How many years can you continue
What is the net cash provided by financing activities : Additional debt capital of $650,000. It also repurchased stock in the open market for a total of $45,250. What is the net cash provided by financing activities?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd