Oliveras Company had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in accounts receivable at the beginning of the year was $100,000, and the end of the year it was $150,000. What were the accounts receivable turnover and the average collection period in days? a. 6.4 and 57 days. b. 4.0 and 91.3 days. c. 5.3 and 68.9 days. d. 8.0 and 45.6 days.

Answers

Answer 1

Answer:

a. 6.4 and 57 days

Explanation:

The computation of the accounts receivable turnover and the average collection period in days is shown below;

The account receivable turnover is

= $800,000 ÷ ($100,000 + $150,000) ÷ 2

= 6.4 times

And, the average collection period is

= 365 days ÷ 6.4 times

= 57 days

Therefore the a option is correct


Related Questions

Apple is constantly striving to introduce new products into the marketplace. At the initial stage, Apple design teams are separated from the rest of the organization and housed in a separate facility to enhance the ability to develop new concepts. This approach has proven to enhance the ability to come up with new concepts in the _____ stage of the new-product development process.

Answers

Answer:

Idea generation.

Explanation:

The new product development process is a process of taking a product to the market. It is a part of product design. The process continues till the life cycle of product is over.

There are several stages of the new product development.

The stage in which the Apple company is, in the given scenario, is idea generation.

Idea generation is the first stage of the new product development. In this stage, the company seeks for ideas for creating or developing new products.

Therefore, idea generation is the correct answer.

Brant promised to repair Carolyn's car on Thursday. After picking up the necessary part at a junkyard, he discovered he could not do the job after all and that the junkyard would not buy back the part. Carolyn does not know about these developments. However, she thinks Brant will be finished with her car sometime today. What should Brant do

Answers

i mean... tell carolyn asap and explain, then try to sell the part on ebay or something

When closing a direct request, you

a. indicate the consequences of a failure to reply.

b. mention your own qualifications or status.

c. request a specific response and mention the time limits.

d. thank the reader in advance for helping you.

Answers

Answer:

c

Explanation:

just took it on edg

Assume that one year ago, you bought 260 shares of a mutual fund for $19 per share and that you received an income dividend of $0.14 cents per share and a capital gain distribution of $0.24 cents per share during the past 12 months. Also assume the market value of the fund is now $15 a share. Calculate the total return for this investment if you were to sell it now.

Answers

Answer:

The ROI is 1040.38 with Distributions and Dividends included if you sell it now.

Explanation:

[tex]260*19=$4940, cost is $4940\\0.14+0.24=0.38 \ in\ distributions/dividends\\260*15=3900, sale\ price \ is 3900\\(4940-3900)+0.38=1040.38[/tex]

Hope this helped!

Edit: This answer doesn't account for any fees, since you didn't list any fees. The only mutual funds that I know of without fees are index funds run by big financial institutions.

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