What were the trade receivables

Assignment Help Accounting Basics
Reference no: EM133180432

Question - A company has a gross profit ratio of 30%. The trade receivables collection period for the company has been calculated at 62 days. If the actual gross profit earned was $360,000, what were the trade receivables?

Reference no: EM133180432

Questions Cloud

How many shares of flower corp is maria deemed to own : Rose Corp is also a 20% partner in Lilac LLC which owns 100 shares of Flower Corp. Under I.R.C. $ 318, how many shares of Flower Corp is Maria deemed to own
Advanced seminar in human resource mgt : How is the Human Resource Information Systems (HRIS) a strategic tool for the HR function? Should you choose to use an academic recourse, please include the res
Human service organization : Select a human service organization from a public, nonprofit, or government sector that you are familiar with, or one that you find interesting.
Assess olive partners strategy : So, based on this segmentation, we launched our new product with one of our parent companies (a bank). By the time we had signed our third client, we had alread
What were the trade receivables : A company has a gross profit ratio of 30%. The trade receivables collection period for the company has been calculated at 62 days. What were trade receivable
Summarize overall plan of care for amal : Treatment plan with your provider is one of the first steps toward recovery from substance misuse. A list of issues this list explains particular concerns that
Determine the balance in the investment account : Equity Investments On December 31, 20X1, Ryan Corp. acquired a 60% interest in Gosling Corp. for $315,000. Determine the balance in the investment account
Journalize the transactions of june july and aug : On august 30, Belen sold the remaining shares at 42 per share. Journalize the transactions of June 5, July 15 and Aug 30
State malpractice lawsuits : Writing a Hypothesis to state malpractice lawsuits have negative effects on physicians and healthcare facilities regardless of whether it is a falsified accusat

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the balance in Retained Earnings at December

What is the balance in Retained Earnings at December 31, 20XX for Grandma M's Homemade Ice Cream Shop

  What is LNS corporation taxable income for the year

LNS reports $2,837,500 in ordinary and necessary business expenses. What is LNS corporation's taxable income for the year

  What is the withholding tax on the dividend paid to forco

ForCo, a foreign corporation not engaged in a U.S. trade or business, What is the withholding tax on the dividend paid to ForCo

  Prepare purchases budget in units and dollars for each month

Beginning inventory for 2010 is 50,000 units. Prepare a purchases budget in units and dollars for each month, January through May

  Many businesses borrow money during periods of increased

many businesses borrow money during periods of increased business activity to finance inventory and accounts

  Determine by how much the total shareholders equity changed

Determine by how much (one figure; supporting calculations) the total shareholders' equity changed from December 31, 2019 to March 31, 2020

  Compare auditing attestation and assurance services

Write 400-500 words in which compare and contrasting auditing, attestation, and assurance services include an example of each type of service

  What is the approximate inventory on February

A fire destroys all of the merchandise of Culver Company on February 10, 2017. What is the approximate inventory on February 10, 2017

  What other factors need to be considered by the practitioner

The forecast predicts that sales will substantially increase next year, What other factors need to be considered by the practitioner

  What would be your recommendation for reporting the purchase

On October 1, 2018, DAW Inc. signed a long-term, non-cancellable purchase commitment with a major supplier to purchase raw materials needed for production.

  Define and discuss cash equivalent and provide three example

Define and discuss cash equivalents and provide three examples. Discuss amortization and provide three examples where amortization schedules will come in handy in the business world or in your personal lives.

  Will the npv figure increase, decrease or remain the same

When Dolly corrects this error, will the NPV figure increase, decrease or remain the same and why

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