User Account

All Pages

What are the average accounts receivable balance

Assignment Help Financial Accounting
Reference no: EM132757282

Problem 1: If a company's credit sales are $120,000, the collection period is 60 days, and the cost is 80 percent of sales price, what are (a) the average accounts receivable balance and (b) the average investment in accounts receivable?

 

Reference no: EM132757282

Questions Cloud

What is the stock expected price three years from today : $13.50 per share is the current price for Foster Farms' stock. The dividend is projected to increase at a constant rate of 5.50% per year.
What is difference between cash- and accrual-based system : What is the difference between cash- and accrual-based systems of accounting? Explain how you will store/maintain these documents.
What two main areas constitute metaphysics : 1. What two main areas constitute Metaphysics? 2. Name one theory of knowledge and the thesis is defends.
Explain the disclosure required by ias : Explain advantages and disadvantages of each method and explain the disclosure required by IAS 1 Presentation of Financial Statements
What are the average accounts receivable balance : The cost is 80 percent of sales price, what are the average accounts receivable balance and the average investment in accounts receivable?
Determine the depreciation expense of the equipment : Determine the depreciation expense of the equipment for the year ended December 31 2019. Enter your answer in the following box
What is the advantage for lakeside corporation : What is the advantage (disadvantage) of this decision? The corporation anticipates 25 percent of its customers will take advantage
What is sexual harassment : 1. What is sexual harassment? 2. What are the motives of people involved in child pornography?
What is the advantage of the decision : What is the advantage (disadvantage) of this decision? Accounts receivable turnover will be reduced to 8 times from the present turnover of 10 times.

Reviews

Write a Review

Financial Accounting Questions & Answers

  How will this transaction affect the accounting equation

Simpson Auto Body Repair purchased $20,000 of Machinery. The company paid $8,000 in cash at the time of the purchase and signed a promissory note for the remainder to be paid in four monthly installments. How will this transaction affect the accou..

  Subscription revenue for the amounts received

a. Tao Co. receives $10,000 cash in advance for 4 months of legal services on October 1, 2013, and records it by debiting Cash and crediting Unearned Revenue both for $10,000.

  Question at the starting of its 2010 calendar-year

question at the starting of its 2010 calendar-year accounting period abc inc. had retained earnings of 1500000. through

  Determine the liability for gift certificates to be reported

Bavarian Bar and Grill opened for business in November 2013. During its first two months of operation, the restaurant sold gift certificates in various amounts totaling $5,200, mostly as Christmas presents. Prepare the appropriate journal entries (in..

  Marginal analysis principle is that financial decisions

The definition of the marginal analysis principle is that financial decisions are made and actions are taken

  What revenue for march that hbib uses accrual accounting

What is the revenue for March given that Hbib uses accrual accounting? What is the revenue for March given that Hbib uses cash accounting?

  Calculate the gain or loss on the disposal of shares

Calculate the gain or loss on the disposal of shares in Tumpat Bhd. Show all workings. Guchil Bhd acquired 80% of 20 million ordinary shares of Tumpat Bhd

  Differing terms and options from each vendor

Whispering Inc., a manufacturer of steel school lockers, plans to purchase a new punch press for use in its manufacturing process. After contacting the appropriate vendors, the purchasing department received differing terms and options from each vend..

  What is amount of interest expense that should be recognized

10% rate of interest is $1,740,900. What is the amount of interest expense that should be recognized by Hanover in 20X1, using the effective-interest method?

  Calculate the net cash flows from operating activities

Calculate the net cash flows from operating activities. Show your work. Calculate the net cash flows from investing activities. Show your work

  What amount should connor present the note on the december

PV factor 10%, 3 periods .751 PV factor 10%, 2 periods .826 PV factor 10%, 1 period .909 PV factor 9%, 3 periods .772 PV factor 9%, 2 periods .842 PV factor 9%, 1 period .917 At what amount should Connor present the note on the December 31, year 2..

  Prepare a 2 page newsletter that identifies and summarises

the regulatory environment for financial reporting you are a member of a large accounting firm which is responsible for

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