8 The Manana Corporation had annual sales of $60 million that occurred evenly throughout the 365 days of the year. Its accounts receivable balance averaged $2 million. How long, on average, does it take the firm to collect on its sales? 12.2 days 19.1 days 15.8 days 25.2 days

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

A:

Q: 5. The accounts receivable for PEA Company was P140,000 at the beginning of the year and P180,000 at…

A: solution note dear student as per the Q&A guideline we are required to answer the first question…

Q: hat is the average number of days that the receivables of Viper Construction remain outstanding…

A: For computing the inventory tune over ratio first we have to find out the sales amount by applying…

Q: Last year, Dogwood Company had net sales of $9,690,000 and cost of goods sold of $4,812,000. Dogwood…

A: Accounts receivable turnover ratio = Net credit sales / Average accounts receivable

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: ABC reports sales of $100 million. Accounts receivable at the beginning and end of the year are S6…

A: In the given case, the amount of cash received from the customers is calculated by the addition of…

Q: Sequoia Furniture Company's sales over the past three months, half of which are for cash, were as…

A: A. Collection period is 60 days. Half of the sales of each month are credit Thus credit sales of…

Q: If Emperium Inc. had credit sales of 2,027,773 per year and its days sales outstanding was equal to…

A: Days Sales or Receivables Outstanding means the number of days it takes a company to realize cash…

Q: The financial statements of Minnesota Mining and Manufacturing Company (3M) report net sales of…

A: Average collection period = 365/ Accounts receivable  turnover where, Accounts receivable  turnover…

Q: 10. Naronath & Co. has a.DSO of 30 days, and its annual sales are $6,500,000. What is its accounts…

A: DSO is days sales outstanding. DSO = Accounts Receivable/Sales * 365 Accounts receivable =…

Q: Abaca Company's accounts receivable is P240,000 at the beginning of the year and 280,000 at the end…

A: 1. 6× means 6 times. Accounts Receivables turnover ratio is 6               times.  2. Total Sales…

Q: ACCOUNTS RECEIVABLE MANAGEMENT 4. Farfalle Inc. had credit sales of P3,500,000 last year, with a DSO…

A: The details are as under  Credit sales = P 3500000 DOS = 35 days. I year = 365 days  Required…

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: Receivables Investment Medwig Corporation has a DSO of 37 days. The company averages $9,750 in…

A: Accounts Receivables are the money due towards customers but not yet paid on account of goods sold…

Q: 17. Zoom has a DSO of 35 days, and its annual sales are $6,500,000. What is its accounts receivable…

A: DSO = 35 days Sales = $6,500,000 Number of days in a year = 365

Q: Bulldogs Inc. had credit sales last year amounted to P18,600,000. The firm also had an average…

A: Solution.. Credit sales = P18,600,000  Average accounts receivable = P1,380,000  Average collection…

Q: 4. Assume a business sold a total of $839,500 during the current year and its accounts receivable…

A: Number of days' sales in receivables is the number of days it take to collect the accounts…

Q: Damalerio Corporation uses the cash basis of accounting. Damalerio collected P1,400,000 from its…

A: Sales Revenue under the accrual basis of accounting = Accounts receivable at the end of the year +…

Q: Greene Sisters has a DSO of 20 days. The company’s average daily salesare $20,000. What is the level…

A: Receivable Turnover Ratio = No. of days in a year / Day's sales outstanding (DSO) Receivable…

Q: Taehyung Company provided the following data: On January 1, the company’s account receivable and…

A: Net sales = Cash receipts from customers + Ending accounts receivable - Beginning accounts…

Q: The financial statements of Danielle Manufacturing Company report net sales of $750,000 and accounts…

A: Accounts receivables turnover ratio refers to the efficiency ratio which measures the effectiveness…

Q: A firm's annual credit sales are $171 million, with 49.56% of its daily average paid out in…

A: Receivables refers to the net amount of money borrowed by the customers of the company from it,…

Q: For its most recent year a company had Sales(all on credit) of $830,000 and Cost of Goods Sold of…

A: Days of account receivables helps to understand how many days are required by the firm to clear its…

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Baxley Brothers has a DSO of 23 days, and its annual salesare $3,650,000. What is its accounts…

A: Day sales outstanding=23 daysAnnual sales=$3,650,000Days per year=365 days

Q: Net Credit Sales = 12,000. Accounts receivable turnover = 18.8 times. Cost of goods sold = 2,000.…

A: average collection period in days = 365 days / accounts recievables turnover ratio   Given that,…

Q: Medwig Corporation has a DSO of 36 days. The company averages $8,000 in sales each day (all…

A: DSO means days sales outstanding. It means number of days it takes credit sales to be converted into…

Q: Accounts Receivable Analysis A company reports the following: Sales $4,000,000 Average accounts…

A: a. Calculate the accounts receivable turnover.

Q: Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the…

A: Given in the question: Net Sales = $8,987,000 Accounts receivables on January 1 = $725,000 Accounts…

Q: A company has annual sales of $5,210,000 and its average daily accounts receivable is $377,000. What…

A: given that, annual sales = $5210000 average daily accounts receivables = $377000 365 days per year…

Q: 10. Naronath & Co. has a DSO of 30 days, and its annual sales are $6,500,000. What is its accounts…

A: DSO = (average accounts receivable/total credit sales) * no. of days

Q: Medwig Corporation has a DSO of 17 days. The company averages $8,500 in sales each day (all…

A: Days sale outstanding(DSO)/Average collection period(ACP) tells a firm on an average time taken by…

Q: 1. The following information relates to WOLF CORP. for the year ended 2020: Cash sales gross…

A: Net sales means the amount of revenue earned and it is calculated by deducting the sale return ,…

Q: DAYS SALES OUTSTANDING Baker Brothers has a DSO of 40 days, and its annual sales are $7,300,000.…

A: Accounts receivables are part of the current assets of the company. The accounts receivables arise…

Q: Recent Financial statements of General Mills, Inc. reported net sales of $12,442.000,000. Accounts…

A: Accounts receivable   Beginning of the year (A) $912,000,000 End of the year (B) $953,000,000…

Q: The annual sales of a company are $235,000 including sales tax at 17.5%. Half of the sales are on…

A: We have the following information: The annual sales of a company are $235,000 including sales tax…

Q: XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average…

A: Receivable turnover ratio is calculated as follows: = Net credit sales / Average account receivable

Q: 5. Krackle Kon Inc, had credit sales of S3,500,000 last year and its days sales outstanding was…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Keith Corporation has an accounts receivable turnover ratio of 3.4.  What is the firm’s average…

A: Formula: Average collection period = 360 days/Accounts receivable turnover ratio where, Accounts…

Q: Rayhan Company has an average collection period of 55 days. The annual sales is 8,500,000. What is…

A: The average collection period indicates the period between the sale and collection/ receipt of money…

Q: Inc. has the following data, in thousands. Assuming a 365-day year, what is the firm's cash…

A: Cash conversion cycle can be calculated by using this equation Cash conversion cycle =Inventory…