A retailer ordered merchandise totaling $127,115.23 with terms 2.5%/10 net 30. What is the effective rate of return? (Simplify your answer completely. Assume there are 365 days in a year. Round your answer to one decimal place.)

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

A: Number of days sale in receivable means how much time will the debtor takes to clear his dues. First…

Q: Suppose Maestro’s had cost of goods sold during the year of $230,000. Beginning merchandise…

A: Given information  is: Maestro’s had cost of goods sold during the year of $230,000. Beginning…

Q: If Hot Tubs Inc. had annual credit sales of P2,027,773 and its days sales outstanding was equal to…

A: The calculation of average Accounts Receivables outstanding is shown hereunder : Annual credit sales…

Q: What is the inventory conversion period for O'Brian's if it has sales of $320,000, an average…

A: The inventory conversion period is based on the concept of days of inventory take into sales. It can…

Q: Consider the following financial statement information for the Emma Corporation: Item Beginning $…

A: To calculate operating and cash cycle we need to identify  1.Average collection period  2.Day sales…

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: Alpha Company makes all its sales on account. Accounts receivable payment experience is as follows:…

A: A cash budget is an estimation of expected cash receipts and disbursements based on experience. It…

Q: Carey's Department Store had net sales of $20 million and cost of goods sold of $17.00 million for…

A: The question is based on the concept of Accounting Ratios.

Q: If Nico Corporation has annual purchases of $300,000 and accounts payable of $30,000, then average…

A: Average purchase per day is the total annual purchase dividend by the no of days in a year. Average…

Q: Luke Company has an-inventory conversion period of 60 days, a receivables conversion period of 45…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Q3 Libscomb Technologies' annual sales are $5,006,817 and all sales are made on credit, it…

A: The Receivable Turnover Ratio, also known as the Debtor's Turnover Ratio, is a measure of accounting…

Q: Mario’s Home System has sale of $2,820, costs of goods sold of $2,160, inventory of $504, and…

A: The term inventory refers to both raw materials used in manufacturing and completed goods that are…

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

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

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

A: The average number of days that takes by the corporation to pay back its accounts payable is…

Q: If gross sales for the shoe department for spring were $2,675,000 and the returns in dollars were…

A: Net Sales Means Sales which calculated after deducting all kind of deductions like Sales returns,…

Q: Wayne's Wells has sales for the year of P48,900 and an average inventory 21 of P8,800. The cost of…

A: Days Sales Inventory = 365* Average Inventory/ Cost of goods sold

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Accounts receivable turnover ratio is a type of activity ratio, which is defined as the measurement…

Q: a. EFG reports annual sales of $ 30 million. Annual costs of goods sold is $ 15 million. Inventory…

A: Inventory refers to the goods or items which are stored by the business either for selling or for…

Q: Zane Corporation has an inventory conversion period of 48 days, an average collection period of 26…

A: Cash conversion cycle(CCC) will be CCC =Inventory conversion period + Average collection period…

Q: Zane Corporation has an inventory conversion period of 64 days,an average collection period of 28…

A:

Q: Presented below is information for Ayayai Company for the month of March 2020. Cost of goods sold…

A: Gross profit is an excess value of revenue over the cost of goods sold. The gross profit rate can be…

Q: what is the operating cycle

A: Answer:   104.42 days

Q: For its most recent year a company had Sales (all on credit) of $850,000 and Cost of Goods Soid of…

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

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: Last year, Toby's Hats had net sales of $45,000,000 and cost of goods sold of $29,000,000. Toby's…

A: Introduction: Accounts receivable turnover ratio : Division of Average Accounts receivable with Net…

Q: What is the average collection period assuming annual data is used? quarterly data is used?

A: Assuming Annual data:  Average Collection period= [Account receivable/Sales]× 365  Assuming…

Q: Samaritan Supplies, Inc. has P5 million in inventory and P2 million in accounts receivable. Its…

A: The inventory conversion period is the time period a firm takes to sell out its inventory. The firms…

Q: Chik’s Chickens has accounts receivable of $6,683. Sales for the year were $10,200. What is its…

A: Average collection period is time required to collect money from customers.

Q: Suppose that Dunn Industries has annual sales of $2.3 million, cost of goods sold of $1,650,000,…

A: The question is based on the concept of calculation of operating cycle of a firm, Formula as,

Q: The following is Cullumber Company’s income statement for the past year. Sales revenue   $336,000…

A: Gross margin % = (Gross margin / Sales) x 100 = (201,600/336,000)*100 = 60%

Q: n the current year, Borden Corporation had sales of $2,000,000 and cost of goods sold of $1,200,000.…

A: Journal Entry:   Journal entry has two effects for every transaction. The journal entry is passed by…

Q: During year 1, the sales and Cost of goods sold were GHS 6,00,000 and GHS 4,30,000 respectively.…

A: The ratio between the cost of goods sold to net sales is cost of goods sold margin. COGS margin =…

Q: Cost of Trade Credit Grunewald Industries sells on terms of 2/10, net 50. Gross sales last year…

A:

Q: Milton Company provides this information for the month of November, 2008: sales on credit P150,000;…

A: Formula: Net sales = Cash sales + Credit sales - Sales discount - Sales returns and allowances

Q: Liam Co., had the following data in 2020. Compute the MCIT at 2%. Gross Sales 1,000,000 Sales…

A:

Q: Libscomb Technologies' annual sales are $6,974,991 and all sales are made on credit, it purchases…

A: inventory turnover formula: inventory turnover =cogsinventory given, COGS = $3511,535 inventory =…

Q: Libscomb Technologies' annual sales are $5,153,262 and all sales are made on credit, it purchases…

A: Inventory Turnover calculates the number of times a company sells its inventory in a year.

Q: XYZ has forecast its sales revenues and purchases for the last 5 months of 2015 to be as follows:…

A: The cash budget is prepared to record cash receipts and cash disbursements made during the period.…

Q: Libscomb Technologies' annual sales are $6,743,847 and all sales are made on credit, it purchases…

A: Annual credit sales = $6,743,847 Accounts Receivable =$1,475,000 No. of days = 365

Q: nternational Industries sells on terms of 3/10, net 50. Gross sales last year were 5,662,500 and…

A: The calculation of gross and discounted sales has been made as follows: Gross Sales per day =Total…

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

A: Calculate accounts receivable turnover:

Q: A courier service has revenue ranges with probabilities shown in the table. Monthly capacity is…

A:

Q: wages payable 90,000 Short-term loans payable 50,000 During the year, Arnn had net sales of $2.45…

A: The computation of Current ratio, Acid test ratio, Accounts Receivables turn over ratio, Accounts…

Q: Libscomb Technologies' annual sales are $5,790,872 and all sales are made on credit, it purchases…

A: Given that, annual sales =  $5,790,872 purchases(cost of goods sold) = $3,221,342   inventory =…

Q: A certain man works in sales and earns a base salary of $1100 per month plus 6% of his total sales…

A: As per our Honor code policy, we are authorized to answer only three sub parts at a time. So, we are…