A home office ships merchandise to the branch at 30% above cost. The allowance for overvaluation at the beginning of the year was P25,000 and at the end of the year, the balance before adjustment was P265,000, and after the adjustment, the balance is P30,000. How much is the shipments to branch account during the year?

Q: For its most recent year a company had Sales (all on credit) of $750,000 and Cost of Goods Sold of…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: A company has credit turnover of NOK 10 million this year. 31.12.x1 this year, trade receivables…

A: Average Credit time = Average Accounts receivable/Total Credit Sales*No. of days   Average accounts…

Q: For the past year, Hawkeye, Inc., had a cost of goods sold of $63,882. At the end of the year, the…

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A: WORKING NOTE : 1) The cash sales for any month will be: 0.20 * Sales of that month. 2) Cash…

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A: Formula: Cash collections = Sales value x Amount collection percentage

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A: Since you have posted a multiple question therefore we will be solving first question only. However,…

Q: Kelly’s Jewelry has the following transactions during the year: total jewelry sales = $750,000;…

A: Formula to calculate net sales: Net sales = Sales - sales discount - sales returns - sales…

Q: Dexter, Incorporated, had a cost of goods sold of $43,921. At the end of the year, the accounts…

A: Cost of goods sold = 43921 Accounts payable balance = 7943 Payable Turnover ratio= Net credit…

Q: For the past year, Hawkeye, Inc., had a cost of goods sold of $68,382. At the end of the year, the…

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Q: Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and…

A: In this question, Firstly we calculate the collection in March from the January, February and March…

Q: accounts receivable balance

A: SOLUTION:- Receivables Period      = 46             Credit sales = $5,840,000…

Q: Jane sport shop projects the following sales, P75,000 for April, P95,000 for May, and P110,000 for…

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Q: UIO Company makes all of its sales on account. UIOcollects its account as follows: 20% in the month…

A: The account receivables are the assets of the business which would be converted into cash within one…

Q: Heritage, Inc., had a cost of goods sold of $68,314. At the end of the year, the accounts payable…

A: Calculate the accounts payable days as follows:

Q: At the end of the year, Brinkley Incorporated’s balance of Allowance for Uncollectible Accounts is…

A:

Q: Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the…

A: Solution..   Net credit sales = $6,500,000  Beginning accounts receivable = $600,000  Ending…

Q: what is the operating cycle

A: Answer:   104.42 days

Q: ABC Industries has accounts receivable of $700, inventory of $1,200, sales of $4,200, and cost of…

A: Ratio is a tool which is used to measure the growth and performance of the firm by establishing the…

Q: Beech's managers have made the following additional assumptions and estimates: 1. Estimated sales…

A:

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

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Q: Office World Inc. has "cash and carry" customers and credit customers. Office World estimates that…

A: October November December Total Sales $110,000 $138,000 $201,000 Cash sales (25%) $27,500…

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A: Prepare a schedule of cash collections from sales for October, November and December as shown below:…

Q: Martin Incorporated uses the percent-of-credit sales method to estimate uncollectibles. Total sales…

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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: Halifax Shoes has 39% of its sales in cash and the remainder on credit. Of the credit sales, 65% is…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: A Mikey's sells $119,500 of its accounts receivable to factors at a 1% discount. The firm’s average…

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

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Q: Milford Company uses the percent-of-sales method to estimate uncollectibles. Netcredit sales for the…

A: The percentage-of-sales strategy gauges uncollectible records from the credit sales of a given…

Q: Sy Co. has the collection schedule of 65% during the month of sales, 15% the following month, and…

A: In the given question, it is specified that 65% of credit sales of a month are collected in that…

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: At the start of the period the accounts payable balance was P75,000 and the unused supplies has a…

A: Supplies: Supplies are the consumables that are used regularly in offices by the organizations in…

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

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Q: At the end of the year Stan Still Stationery Store had the following balances: Sales $485,000; Sales…

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Q: During its first year of operations, Mack's Plumbing Supply Co. had sales of $3,250,000, wrote off…

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Q: alculate Average Payables Periods For the first year, Hawkeye, Inc., has a cost goods sold of…

A: Cost of goods sold = $95318 Accounts payable balance = $22816

Q: Heritage, Inc., had a cost of goods sold of $44,721. At the end of the year, the accounts payable…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: McEwan Industries sells on terms of 3/10, net 30. Total salesfor the year are $1,921,000; 40% of the…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: A company has net credit sales of $750,000 for the year and it estimates that uncollectible accounts…

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Q: Milford Company uses the percent-of-sales method to estimate uncollectibles. Netcredit sales for the…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Calculate accounts receivable turnover:

Conversion Cycle

Conversion cycle is also known as cash cycle or net operating cycle. Conversion cycle refers to how much time a company takes to turn its investments which is done from stock or any other financial resources into cash flows from sales.