. A company with net credit sales of $960,000, beginning net receivables of $70,000, andending net receivables of $90,000 has days’ sales outstanding closest to:a. 37 days.b. 30 days.c. 34 days.d. 41 days.

Q: Oman chromite company LLC had sales last year of OMR 500,000, including cash sales of OMR 208,000.…

A: Accounts receivable = Credit Sales * Average collection period / 365

Q: Pine Hardware Store had net credit sales of P6,045,000 and cost of goods sold of P5,000,000 for the…

A: Solution:- Introduction:- Accounts receivables turnover ratio measures the number of times per year…

Q: 1. Information from the records of Stormfall Co. is shown below. Accounts receivable - net of P6,000…

A: Solution Trade receivable are defined as the amount owed to a business by its customers following…

Q: ABCD Corporation has credit sales of $10,640,000 and receivables of $1,520,000. a. What is the…

A: Receivables turnover = Credit sales / Accounts receivable Average collection period = 365/…

Q: A company has net income of 213,700 a profit margin of 7.1 percent, and an accounts receivable…

A: Net income = 213,700 Profit margin = 7.1% Sales = Net income/Profit margin          = 213700/0.071…

Q: What is LoGo's payables deferral period (DPO)?

A: Payables deferral period (DPO) = Accounts payable/Credit purchases per day It is the number of days…

Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…

A: Given: Credit sales = $180,000 Accounts receivables = $14,000

Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…

A:

Q: s an Accounts Receivable balance of $375,000 on April 30. ABC's credit terms are 2/10 net 30. The AR…

A: The quantity of money owed to a firm by its creditors is measured by current accounts receivable…

Q: s Inc. had sales of $2,027,773 per year (all credit) and its days sales outstanding was equal to 35…

A: Given, Credit sales amount = $2,027,773 Days sales outstanding = 35

Q: Al Sharif Company's Average Accounts Receivables is OMR 360,000 and total Sales is OMR 1,200,000.…

A: Credit sale=Total sale×100-Cash sale %=OMR 1,200,000×100-40%=OMR 720,000

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Financial statements are statements which states the business activities performed by the company .…

Q: Golden Corporation have the following information from its books: Sales P1,600,000 Credit sales 90%…

A: Sales = P1,600,000 Credit sales are 90% of sales Average Collection period is 30 days Assume number…

Q: Net credit sales total $1,512,500. Beginning and ending accounts receivable are $46,000 and…

A: Accounts receivable:  It is a current asset of an organization. It is the amount due from customers…

Q: A company reports the following: Sales $315,360 Average accounts receivable (net) 39,420 Determine…

A: Accounts receivable turnover = ( Net Credit Sales / Average Accounts receivable ) Number of days'…

Q: A. Assume that all sales are on account. If sales revenue was $18,000,000 and the average days in…

A: Sales means the amount recorded in books as revenue earned by selling the goods or services. Account…

Q: A company’s accounts receivable balance after posting net collections from customers is $150,000.…

A: Net realizable value of the accounts receivable = Accounts receivable - Allowance for doubtful…

Q: At the beginning of the year, AlLmight had a receivable amounting to P 100,000. The recorded sales…

A: Bad debts expense = Total receivables - collectible receivables  where, Collectible receivables =…

Q: Guidry Corporation's beginning accounts receivable balance at January 1 was $200,000 and the ending…

A: The account receivables are also known by the name of debtors. These are the values due to a firm on…

Q: The following data pertains to the customers' accounts of ABC Corp at June 30, 20X1: Accounts…

A: Sales made by business can be for cash or on credit basis. Under credit basis, accounts receivable…

Q: Nicole Company has an average collection period of 52 days and accounts receivables of P250,000.…

A: Average Debtors collection period = Trade Receivables / Total Sales x 365 Days  Note : Here, No. of…

Q: On April 30, Holden Company had an Accounts Receivable balance of $18,000. During the month of May.…

A: Solution: Accounts Receivable are the balance of amount which is due to a company for the goods…

Q: Batik Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning…

A: The average collection period is calculated by dividing the average balance of accounts receivable…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectible Accounts Expense = Credit sales during the year  x 2% of all credit sales

Q: company reports the followin Sales $890,600 Average accounts receivable (net) 44,530 Determine (a)…

A: Ratio analysis: It refers to the quantitative technique of financial analysis that allows gaining an…

Q: A company has the following account balances at the end of the year:• Credit Sales = $400,000•…

A: Bad Debt Expense = Estimates future uncollectible accounts - Beginning balance in Allowance for…

Q: The annual sales of a company are $47,000 including sales tax at 17.5%. Half of the sales are on…

A: We have the following information: Annual sales of the company: $47,000 Half of the sales are on…

Q: Robie Co. operates 365 days in a year. Its receivable on the average remain uncollected for 73 days.…

A: Average collection period means the average time period with in which the debtor makes the payment.

Q: You are given the following figures for sales and receivables: 20X7 20X6 $ $ Receivables at year end…

A: We have the following information: Receivables in the year beginning: $69,472 (Receivables at year…

Q: Larry’s Lawn Equipment Company gives terms of 2/10, n/30. Larry hasannual credit sales of $500,000…

A:

Q: A company reports the following Sales $1,200,000 Average accounts receivables (net) 50,000 Determine…

A: Accounts receivables are the legal enforceable claims by the company for the products supplied to…

Q: Gandi brothers has DSO of 22 days and its annual sales on account are $7,665,000. Assume number of…

A: Days sales outstanding = 22 days  Annual sales = $7,665,000 Number of days in a year = 365 days…

Q: ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable:…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: On April 30, Holden Company had an Accounts Receivable balance of $18,00O. During the month of May.…

A: Accounts receivables are the dues that the company is entitled to receive from credit purchasers.…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: An entity provided the following information for the current year: Accounts receivable – January 1…

A: Recovery  of accounts  written  off is not taken in receivable  accounts.  It is an income reported…

Q: A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year…

A: Here, receivable turnover ratio is calculated by dividing net credit sales with the average account…

Q: Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the…

A: A ratio that provides information regarding the company’s efficiency to collect their accounts…

Q: Logan Sales provides the following​ information:   Net credit​ sales: $770,000 Beginning net…

A: Net Credit Sales = $770,000 Beginning Accounts receivables = $45,000 Ending account receivables =…

Q: SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Based on the information:  Credit sales - P 172,000 credit Collections on accounts receivable…

A: Formula: Bad debts expense = Ending Accounts receivable x Bad debts percentage

Q: A company has net income of $196,000, a profit margin of 10.00 percent, and an accounts receivable…

A: The question is based on the concept of ratio analysis.

Q: A company reports the following:Sales…

A: a.Compute accounts receivable turnover ratio.

Q: KL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Solution: Net Credit Sales = 80% of $1,000,000                             = 800,000 For calculating…

Q: 1. A company, extends credit to its customers. Total Sales is 2 Million, credit Sales is 850,000,…

A: Journal Entry Account Titles and Explanation  Debit   Credit  Bad Debts Expense     21,800…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is