A firm starts with $5,000 of accounts receivables and ends the period with $4,000 of receivables. If it collected $4,000 of receivables during the period, what was the amount of sales?   Select one: a. $20,000 b. $25,000 c. $19,000 d. $21,000

Q: Alco Roofing Company's beginning accounts receivable were $200,000 and ending accounts receivable…

A: Equation is  opening receivables + credit sales - collections = ending receivables

Q: You are a credit analyst of a growing commercial bank and have recently received loan applications…

A: Ratio analysis is a tool that establishes a relationship between the different items. It is used to…

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

A: Bad debt expense: Bad debt expense is an expense account. The amounts of loss incurred from…

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

A:

Q: Winther Company has a receivables turnover of 15 times. The average net receivables during the…

A: Winther company's Receivable turnover = 15 Average net receivables = P430000 Average net receivable…

Q: Corentine Co. had $152,000 of accounts payable on September 30 and $132,500 on October 31. Total…

A: Dear student, as per Bartleby answering guidelines we can answer only the first question if the…

Q: Swiss Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: What is the number of days’ sales in receivables?  Round to one decimal place. Group of answer…

A: Number of days' in receivables Days Sales Outstanding (DSO) represents the average number of days it…

Q: A company has a 30-day credit terms to its customers. It has a total of P120,000 in their accounts…

A: Ratio analysis: This is the quantitative analysis of financial statements of a business enterprise.…

Q: A firm has sales of $1.6 million, and 25 percent of the sales are for cash. The year-end accounts…

A: Average collection period is the time taken by the company to collect the funds from its…

Q: Net credit sales = $400,000 Net income = $100,000 Average total assets = $80,000 Average accounts…

A: calculation of average collection period are as follows

Q: A firm has $375,000 in credit sales and $135,000 in accounts receivable. Compute the average number…

A: Average number of collection days = 365 days / Average receivable turnover ratio Average receivable…

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: Bane Company reported P210,000 in sales. Its opening accounts receivable balance was P45,000 and its…

A: Cash collected from customers for the year = opening accounts receivable balance + sales - ending…

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: If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio?

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

Q: Which of the following would occur if a company factored $2,500,000 of receivables with a 2% fee?…

A: Formulas: Factoring expenses = Receivables * Fee rate

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: A company had a beginning balance in accounts receivable of 15,00015,00015,000 USD. At the end of…

A: To calculate the cash collected from the customer, the sales on the account are added to the…

Q: A company had beginning accounts receivable of $175,000. All sales were on account and totalled…

A: Formulas: Ending balance = Beginning accounts receivable + Credit sales - Cash collected

Q: 4.The following data were available for ABC Company at Dec 31, 20X2: Accounts Receivable, beg…

A: 1. Accounts Receivable, beg P15,000 - It is related to the prior period 2. Accounts Receivable, end…

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: A company reports the following: Sales $1,460,000 Average accounts receivable (net) 100,000…

A: a. Accounts receivable turnover = Net sales / average accounts receivable Accounts receivable…

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

A:

Q: Happy Inc. provided the following information: Beginning balance of Accounts receivable P5,000,000…

A: The cash basis system state that the revenue should be recorded when the actual amount of cash is…

Q: Information from the records of TEAM PAYAMAN Co. is shown below:                       Accounts…

A: The balance of trade receivable is arises from the credit sales to customer. In balance sheet the…

Q: Jaxon Markets currently has credit terms of net 30, an average collection period of 29 days, and…

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

Q: A company reports the following:   Sales $1,359,990   Average accounts receivable (net) 83,950…

A: Accounts receivable turnover = Sales/Average accounts receivable Number of days' sales in…

Q: Yanie's coffee beans store had accounts receivable of $18,000 at the beginning of the year and…

A: Cash received from customers = Beginning balance of Accounts Receivable + Credit sales during the…

Q: A company has average accounts receivable of Rs. 10,00,000 and annual credit sales of Rs.60,00,000.…

A: The average collection period determines the number of days on an average taken by Company to…

Q: Medwig Corporation has a DSO of 17 days. The company averages $3,500 in sales each day (all…

A: Average accounts receivable can be calculated by following formula:- Days sales outstanding (DSO) *…

Q: B&B Mining has a DSO of 40 days, and its annual sales are 7,300, 000. What is its accounts…

A: Daily sales outstanding (DSO) = 40 Days Annual sales = 7,300,000 Number of days in a year = 365 Days

Q: Terry's hardware normally takes 27 days to pay for average daily credit purchases of $9,530.  Its…

A: Part (a)Accounts receivable = Average daily credit sales x Average collection period = $ 10,680  x…

Q: 18. Calapan Company provided the data in the table below. In 2011, accounts written off amounted to…

A: Gross purchases means the amount of inventory purchased during the year without taking into account…

Q: A firm has accounts receivables of R352 476, sales just ended of R3 050 291. What is the average…

A: The Financial Ratio is mainly used by the investor for measuring the financial performance of the…

Q: Dedpul Company provided the following transactions affecting accounts receivable during the current…

A: The account receivable is referred to as the amount that a company is yet to received from its…

Q: Alco Roofing Company’s beginning accounts receivable were $200,000. Ending accounts receivable were…

A: Cash collected from customers = Beginning accounts receivable + credit sales - Ending accounts…

Q: Sales revenue for Hy Marx Tutoring was $620,000. The following data are from the accounting records…

A: Introduction: Revenue (sometimes known as sales revenue) is a term used to describe the amount of…

Q: favorable

A: Accounts receivable turnover is a type of financial ratio which is calculated by organizations to…

Q: 9 Maxwell Furniture Centre had accounts receivable of $20000 at the beginning of the year and $54000…

A: Collections from customers is the result of beginning account receivable plus credit sales during…

Q: Flying Tigers, Inc., has net sales of $722,000 and accounts receivables of $152,000. What is the…

A: accounts receivables turnover=net salesaccounts receivables

Q: The Malibu Corporation has annual credit sales of $28 million. The average collection period is 30…

A: Day sales in receivables= 365/receivables turnover 30 =365/ receivables turnover receivables…

Q: . Medwing Corporation has a DSO of 19 days. The company averages 5,500 in credit sales each day.…

A: Given: (Days sales outstanding) DSO = 19 days Credit sales = 5,500 Assuming 365 days in a year.

Q: 10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the…

A: Average collection period shows in how many days on an average a debtors pays his dues Average…

Q: You are a credit analyst of a growing commercial bank and have recently received loan applications…

A: Ratio analysis: Ratio analysis is a tool that establishes a relationship between the different…

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