What is the company average collection period

Assignment Help Accounting Basics
Reference no: EM132971125

Question - The following data were taken from a company's latest financial statements:

Annual sales $2,433,332

Cost of goods sold 2,027,778

Inventories 500,000

Accounts receivable 600,000

Accounts payable 300,000

Required - What is the company's average collection period?

Reference no: EM132971125

Questions Cloud

Calculate ursula net federal taxable income : Ursula also has registered pension plan contributions of $20.00 deducted from each pay. Calculate Ursula's net federal taxable income.
Calculate shen li insurable earnings for block : Shen Li is owed $1,752.00 vacation pay that will be paid out with her final pay. Calculate Shen Li's insurable earnings for Block 15B of the Record of Employmen
What is the total of budgeted cash collections for december : Property, plant, and equipment (net of $630,000 accumulated depreciation) 1,010,000. What is the total of budgeted cash collections for December
How the fair value of the factory is determined : Explain in detail how the fair value of the factory is determined. AISY BERHAD is preparing the financial statements for the financial year ended 31 December.
What is the company average collection period : The following data were taken from a company's latest financial statements: Annual sales $2,433,332. What is the company average collection period
Explain in detail the process for aisy berhad to recognize : Explain in detail the process for AISY BERHAD to recognize for impairment of the factory. AISY BERHAD is preparing the financial statements for financial year
What model of ethical decision-making resonate with approach : What model(s) of ethical decision-making resonate with your approach?
Find out the employee engagement scores : Questions:1) Identify the challenge (transition, activist, creative, development, maintenance or crisis challenge)
How many chapters make up the cpt manual : How many chapters make up the CPT Manual?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What should be recorded in Pendragon APIC

Pendragon Co. issues 200000 shares of $5 par value common stock to acquire Squire Co. What should be recorded in Pendragon APIC

  2010 jan 9- purchased computer equipment at a cost of 10000

2010 jan 9- purchased computer equipment at a cost of 10000 signing a six month 8 note payable for that amount. jan

  Explain how people can identify their federal tax brackets

Explain how people can identify their federal tax brackets. Use following hypothetical questions/situations to explain the retirement plans in further detail.

  Describe each of generally accepted auditing standards

Briefly describe each of the generally accepted auditing standards and indicate how the action(s) of Holmes resulted in a failure to comply with each standard

  What is the loan balance at the end of the fifth year

Assuming inflation is expected to increase at the rate of 6 percent per year for the next five years: What is the loan balance at the end of the fifth year

  Determine the most critical merger or acquisition

Evaluate the effectiveness of Caterpillar's operational plan for global strategies (international, multi-domestic, global-standardization, or transnational)

  Discuss difference between financial liability and equity

Prepare the Statement of Changes in Equity for Cahaya Berhad as at 31 December, 2015. Discuss the main difference between financial liability and equity.

  Compute the total amount of depletion

At the beginning of 2017, Marigold Company acquired a mine for $2,229,600. Compute the total amount of depletion

  Which will not consider going concern concept for accounting

Which will not consider the going concern concept for accounting purposes? A business in receivership or bankruptcy. / A business in aggressive expansion mode

  Kimberly ford invested 10000 10 years ago at 16 percent

kimberly ford invested 10000 10 years ago at 16 percent compounded quarterly. how much has she accumulated? use n 40

  What is the difference between equity and net assets

True or false? The entity concept tells us that we should not co-mingle resources of one entity with another entity's resources. Explain your answer. What is the difference between "equity" and "net assets"

  Calculate the capital balance of each partner

Use Goodwill method to calculate the capital balance of each partner on 01/01/2015, 12/31/2015, 12/31/2016 and 12/31/2017.

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