Collinsworth Co. reported sales on an accrual basis of$100,000. If accounts receivable increased $30,000 and theallowance for doubtful accounts increased $9,000 after awrite-off of $2,000, compute cash sales.

Q: Hanse, Inc., has a cash cycle of 37.5 days, an operating cycle of 51 days, and an inventory period…

A: We need to use the following equations for calculation of accounts payable and accounts receivable…

Q: ABC Sportswear Company had accounts receivable of $206,024,000 at the beginning of a recent year,…

A: Cash receipts from customers will be equal to : Accounts receivables at the beginning of the year  +…

Q: Frappe Company provided the following data for the current year: Cash sales P2,500,000 Inventory –…

A: Cash basis of accounting considers only actual receipts and payments for the purpose of ascertaining…

Q: Van Company provided the following data for the current year in relation to accounts receivable:…

A: Account receivable means the amount due from customer whom we sold the goods on credit. Allowance…

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: 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: Nock Inc. has a Days Inventory Outstanding of 13, an Accounts Receivable $128, an Average Sales per…

A: Cash Conversion Cycle is a method used by the management and it can be calculated as follows, =Days…

Q: On January 1, Year 2, Grande Company had a $71,000 balance in the Accounts Receivable account and a…

A: Uncollectible Account:- These are those accounts that are not going to be received by the company…

Q: Molino Inc. reported sales revenue of $2 million for 2020. Accounts receivable decreased $200,000…

A: Cash receipts: A purchase proof that is issued when the payment is done by the buyer in cash. It is…

Q: Use the information in each of the following separate cases to calculate the unknown amount.

A:

Q: Garden Gate, Inc. reported the following data in its August 31 annual report. Cash and cash…

A: cash burn refers to the cash available in an organization for the given period to maintain its…

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: A manufacturer reports the data below. Accounts payable Accounts receivable Iaventory Set sales Cost…

A: Cash conversion cycle shows the number of days in which the company could efficiently collect and…

Q: Flyer Company has provided the following information • Cash sales, $325,000 • Credit sales, $850.000…

A: Gross Profit is excess of Net Revenue over cost of manufacturing including all direct costs whereas…

Q: Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a…

A: Accounts receivable turnover analyzes the number of times accounts receivables is collected and…

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

A: Sales Revenue under the accrual basis of accounting = Collection from customers during the year +…

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: Ill Company provides the following data for the year 2020:   Cash sales - 500,000; Collection from…

A: The gross sales are calculated as sum of net sales, sales discount and allowance and sales returns.

Q: Determine the estimated cash collected on customers' accounts in June.

A: For Customers receiving discount: May month collection in June = (140000*15%) - 2% discount = $20580…

Q: Von Company provided the following data for the current vear in relation to accounts receivable:…

A: Solution- Particulars Amount $ Current Assets-   Account Receivable-   Opening  560000.00…

Q: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% of may collections)+ (75% of June collections) Where, 25% of May collections…

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: Company Abel has total sales of $375,000, of which, $125,000 represents cash sales. Its annual…

A: Accounts receivable is the amount of money not paid by customers that is due to the organization for…

Q: Von Company provided the following data for the current year in relation to accounts receivable:…

A:

Q: - At 31 December 20X2 Bunting Co's receivables totalled $400,000 and an allowance for receivables of…

A: Allowance for receivables account: This account records the estimated amount of receivables that are…

Q: Flyer Company has provided the following information. Cash sales, $325,000 Credit sales, $850.000…

A: Formula: Total sales = Cash sales + Credit sales. Cash and credit sales combined called as Credit…

Q: Given beginning and ending accounts receivable of $20,000 and $23,000, respectively, and assuming…

A: Sales on account = Ending accounts receivable + Cash collections - Beginning accounts receivable…

Q: Tomatsui Company provided the following annual data: Sales P3,500,000 Cost of Sales P2,275,000…

A: Incase of calculation of minimum cash balance there is a simple way to calculate exactly how much…

Q: Khan's had the following accounts at year end: Cash-250,000, Accounts Payable-70,000, Accounts…

A: Introduction: Current Assets: Currents assets are shown in Balance sheet. Assets which can be easily…

Q: Bruton dye company has a Days Inventory Outstanding of 13, an Accounts Receivable of P128, an…

A: Cash conversion cycle: =Inventory outstanding in days + Sales outstanding in days -Payable…

Q: Loak Corporation provides the following data for the year 2020: Cash sales 500,000; Collection from…

A: Gross sales are the revenues received by the company entity from the sale of its principal product…

Q: Von Company provided the following data for the current year in relation to accounts receivable:…

A: Accounts receivable means the payments owing to a seller by purchasers who still haven't paid for…

Q: YOLO Corporation reported sales revenue of $220.000 for the current year If accounts receivable…

A: ACCOUNT RECEIVABLE : It is the asset for the company as cash flows in. If there is decrease in…

Q: Newark Company has provided the following information: • Cash sales, $450,000 • Credit sales,…

A: Total sales is the sum of sales made both in cash and on credit. It is reduced by the amount of…

Q: Newark Company has provided the following information:Cash sales, $600,000Credit sales,…

A: First step is to compute the Gross sales revenue during the period which is sum total of Cash sales…

Q: Karen company's net accounts receivable were P430,000 on December 31, 19x8 and P480,000 on December…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: For the month of December, the records of Taboo Corporation show the following information: Cash…

A: Gross sales = Cash sales + Credit sales where, Credit sales = Ending Accounts Receivable + Cash…

Q: During March, Sam Company had cash sales of $35,000 and sales on account of $210,000. In April,…

A: Sales may be for cash or on credit. If it is on cash, cash is instantly received on sale. On the…

Q: ble, December 1 148,000 Accounts Receivable, December 31 160,000 Accounts Receivable written-off as…

A: For the month of December, the records of ABC Corporation show the following information:   Given…

Q: Flyer Company has provided the following information: · Cash sales, $150,000 · Credit sales,…

A: Bad debt expense: When it is definitely known that amount due from a customer (debtor) to whom goods…

Q: Nice Ltd has a Days Inventory Outstanding of 13, Accounts Receivable $128, Average Sales per Day…

A: Cash conversion cycle is a measure which was used to find the required time to needed to convert the…

Q: Erie Company began the accounting period with $15,700 in accounts receivable. The ending balance in…

A: The account receivables are reported in the balance sheet as the current assets of the business.

Q: The income statement of Collins Co. reported total sales revenue of $460,000 during the current…

A: Lets understand the basics. For calculating cash inflow from customer, we will need to use below…

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: Spencer Consulting, which invoices its clients on terms 2/10, n/30, had credit sales for May and…

A: June collections= (25% x May month sales) + (75% x June month sales) 25% of May month sales = (15%…