What is the company average accounts receivable balance

Assignment Help Financial Accounting
Reference no: EM132535078

Question 1: Knight Roundtable Co. has annual credit sales of $1,080,000 and an average collection period of 32 days in 2018. Assume a 360-day year. What is the company's average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period.

Reference no: EM132535078

Questions Cloud

Risky security than by buying a risk-free asset : Assume that you have invested half of your wealth in a risk-free asset and half in a risky portfolio P. Is it theoretically possible to lower your portfolio
What would be the presentation currency of magnolia ltd : Magnolia is a multinational Australian company,Identify the functional currency of Magnolia Ltd. What would be the presentation currency of Magnolia Ltd?
How to determine the fair value of the debentures : Determine if the debenture is issued premium or discount?discuss the disclosure requirement for these kinds of events in future.
How important are the balance sheet : How important are the balance sheet, income statement or cash flow statement to a business?
What is the company average accounts receivable balance : What is the company's average accounts receivable balance? Accounts receivable are equal to the average daily credit sales times the average collection period.
Description of that domestic policy : Identify and describe one domestic policy that your party would believe in. Give a paragraph description of that domestic policy.
Make analysis for years till the system net value becomes : Software saves its owner $15,000 from the second year. Make analysis for years till the system net value becomes positive. Assume a present value discount
How to prepare journal entries to record the transactions : Prepare journal entries to record the transactions above. (Credit account titles are automatically indented when the amount is entered)
Effect of corona-virus in your existing business : What will be the effect of corona-virus in your existing business? Will be it a good strategy to invest another unit this year? Provide a detailed explanation.

Reviews

Write a Review

Financial Accounting Questions & Answers

  A department store clerk learns that her employer

A department store clerk learns that her employer has placed a hidden video camera in the employee changing room. If she sues, the claim would most likely be for:

  Improve the return on investment

Other things remaining constant, which of the following will improve the return on investment?

  What amount should the acquired computer be recorded

Hardin Company received $80,000 in cash and a used computer with a fair value of $240,000 from Page Corporation for Hardin Company's existing computer having a fair value of $320,000 and an undepreciated cost of $300,000 recorded on its books.

  Compute the amortization cost for the year

Sharpie Corporation has a global workforce of 400 employees. There was a recent negotiation for a pension plan with an effective date of January 1, 2015. The amount of prior service cost for the new pension plan is $4,823,000. Compute the amortizatio..

  Compute the gain or loss in the futures hedge

Compute the gain or loss in the futures hedge after describing in detail all transactions and Calculate the actual cost of purchasing the motorcycles with the hedge.

  Taxpayers account for 3 stars results

During the current year, 3-Star has total gross income of $500,000 and total allowable deductions of $300,000. - How should each of the following taxpayers account for 3-Star's results? Explain.

  Explain how much cash will greece receive for the issuance

Will the bonds be issued at a discount or a premium? Explain how much cash will Greece receive for the issuance, assuming semi-annual interest payments?

  Benefits program with regard to the tax consequences of plan

Sparrow Corporation would like you to review its employee fringe benefits program with regard to the tax consequences of the plan for the company's president (Polly), who is also the majority shareholder. The company owns a parking garage that is use..

  What is georgia maximum cost recovery

Georgia purchased an asset for her business, What is Georgia's maximum cost recovery for 2018 if the asset is computer equipment (5-year recovery class)?

  Get a quote for the annual cost of insurance for business

It is a massage business plan for a shop in a shopping center just let you know, just fill some number taking a reference of massage center in Australia.

  Prepare the net cash flows from operating activities

Prepare the net cash flows from operating activities using the indirect method. What are the causes of the major differences between net income and net cash flow from operating activities?

  Morgan furniture company on an account

Master Designs Decorators issued an 180-day, 4% note for $76,800, dated May 14, 2016, to Morgan Furniture Company on an account.

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!

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