Miyagi Data, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 2/10, net 50. Based on experience, 80 percent of all customers will take the discount. a.What is the average collection period

Answers

Answer 1
Answer:

Answer:

a. Average collection period = 18 days

b. Average balance = $1,717,112.33

Explanation:

b. If the company sells 1,240 forecasts every month at a price of $2,340 each, what is its average balance sheet amount in accounts receivable?

a. Average collection period = 80%(10 days) + 20%(50 days)

Average collection period = 0.80(10 days) + 0.20(50 days)

Average collection period = 8 days +  10 days

Average collection period = 18 days

b. Average balance = 1240 * $2,340 * 12*(18/365)

Average balance = 1240 * $2,340 * 12 * 0.0493151

Average balance = 1717112.32992

Average balance = $1,717,112.33


Related Questions

Gabby Company sells a product for $ 100 per unit. Variable costs are $ 60 per​ unit, and fixed costs are $ 2 comma 500 per month. The company expects to sell 600 units in September. Calculate the contribution margin per​ unit, in​ total, and as a ratio.
A single stock futures contract on a nondividend-paying stock with current price $180 has a maturity of one year. a. If the T-bill rate is 4.0%, what should the futures price be? (Round your answer to 2 decimal places.) Futures price $ b. What should the futures price be if the T-bill rate is still 4.0% and the maturity of the contract is three years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Futures price $ c. What if the interest rate is 6.5% and the maturity of the contract is three years? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Futures price $
An agent informs owners in an area that a decline in property values over the past five years is due to an influx of minority families. He suggests that the trend will continue, and advises them to sell before it is too late. This agent is probably guilty of
A government collects $600 billion annually in tax revenue. Each year it allocates $35 billion to healthcare and $50 billion for education. What percentage of annual tax revenue is allocated to these two categories of government spending?
What is true with respect to the demand of a monopolist?

Activity Cost Pool Total Cost Total Activity Activity Rate Machine setups $ 20,000 200 setups $ 100 per setup Special processing $ 150,000 10,000 MHs $ 15 per machine-hour General factory $ 200,000 20,000 direct labour-hours $ 10 per direct labour-hour Total overhead costs $ 370,000 What is the total overhead cost assigned to Product A, if Product A used 100 setups, no special processing and 10,000 direct labor-hours? $10,000 $1,000 $110,000 $100,000

Answers

Answer:

total overhead cost = $110,000

so correct option is c.  $110,000

Explanation:

given data

used = 100 setups

direct labor-hours = 1000

to find out

What is the total overhead cost assigned to Product A

solution

we get total overhead cost that is express as

total overhead cost = [ $100 per machine setup × 100 setups ] + [ $15 per machine-hours × 0 special processing ] + [ 10 per direct labor-hour × 10,000 direct labor-hours ]    

so

total overhead cost = $10,000 + $0 + $100,000

total overhead cost = $110,000

so correct option is c.  $110,000

When an organization hires new employees, there may be no more important part of that process than the organizational socialization process. This process takes place over 3 steps or phases; a. anticipatory socialization—those activities that take place prior to the first day on the job;
b. encounter—where the newcomer learns what the organization is really like; and
c. change and acquisition—where members master important tasks and roles.
d. This process can be achieved through a variety of processes and tactics.
e. This exercise will challenge your understanding of some of the characteristics of these tactics and processes.

Answers

Answer: The correct answers are "a. anticipatory socialization—those activities that take place prior to the first day on the job;", "b. encounter—where the newcomer learns what the organization is really like;" and  "c. change and acquisition—where members master important tasks and roles.".

Explanation: The 3 steps or phases of the organizational socialization process are:

1) Anticipatory socialization: those activities that take place prior to the first day on the job;

2) Encounter: where the newcomer learns what the organization is really like;

3) Change and acquisition: where members master important tasks and roles.

The plant manager has asked you to do a cost analysis to determine when currently owned equipment should be replaced. The manager stated that under no circumstances will the existing equipment be retained longer than two more years and that once it is replaced, a contractor will provide the same service from then on at a cost of $97,000 per year. The salvage value of the currently owned equipment is estimated to be $37,000 now, $30,000 in 1 year, and $19,000 two years from now. The operating cost is expected to be $85,000 per year. Using an interest rate of 10% per year, determine when the defending equipment should be retired. Annual Worth of Defender, Year 1

Answers

Answer:

Year 1 Annual Worth of Defender -$95,700

Explanation:

Calculation to determine when the defending equipment should be retired

Year 1 Total Annual worth=-$37,000(AP 10%,1)-$85,000+($30,000 (AP 10%,1)

Year 1 Total Annual worth=-$37,000(1.10)-$85,000+$30,000(1.000)

Year 1 Total Annual worth= -$95,700

Therefore Total Annual worth of currently owned equipment for year 1 is -$95,700

Year 2 Total Annual worth=-$37,000(AP 10%,2)-$85,000+($30,000 (AP 10%,2)

Year 2 Total Annual worth=-$37,000(0.57619)-$85,000+$19,000(0.47619)

Year 2 Total Annual worth=-$97,217

Therefore the Total Annual worth of currently owned equipment for year 2 is $-97,271

Therefore Based on the above calculation the

the economic service life of equipment will be year 1 reason been that Year 1 Total annual worth of costs of the amount of -$95,700 is lesser in a situation where the equipment is been retained for 1 year.

Refer to exhibit 5-5. If the airline charges a price that is between P1 and P2 for both aisle seats and middle seats, the result will beA. a surplus of middle seats and a shortage of aisle seats

B. a surplus of aisle seats and a shortage of middle seats

C. a shortage of middle seats and the equilibrium quantity of aisle seats

D. a shortage of aisle seats and the equilibrium quantity of middle seats

Answers

Answer:

The correct answer is option (D) A shortage of aisle seats and the     equilibrium quantity of middle seats

Explanation:

An aisle seat in a plane is one which is situated at the end of a row and is always adjacent to the aisle. It it mostly preferable to other seats in the plane.

The middle seat is situated at the middle position.

From the question, if the price for the aisle and middle seat are between P1 and P2, passengers will demand for the aisle seat first which will lead to a shortage in aisle seat. Only then will the middle seat be demanded for until it reaches equilibrium with the aisle set.

Review the liabilities section of the balance sheet for Rings and Things. What problem can you identify with the payroll information, particularly as it relates to how much the one employee gets paid? What solution would you offer Janet and Omar?

Answers

Final answer:

The question asks to identify a problem in the liabilities section of a balance sheet, specifically in the payroll information, and suggest a solution. Possible issues could be inaccurate payroll calculations or inconsistencies between records. A possible solution could be auditing the payroll and implementing regular checks.

Explanation:

The question asks you to review the liabilities section of the balance sheet for a company named Rings and Things with a focus on the payroll information. It's important to note that without specific details from the balance sheet and payroll information, a precise issue can't be identified. However, typical problems in this area could include inaccurate payroll calculations or discrepancies between the balance sheet and payroll records.

A solution to these issues could involve auditing the payroll procedures to identify and rectify any errors or inconsistencies. Furthermore, regular checks and audits could be implemented to prevent these types of issues from occurring in the future. It’s fundamental that Janet and Omar ensure all records are meticulous and accurate to maintain a healthy balance sheet.

Learn more about Balance Sheet and Payroll here:

brainly.com/question/36088100

#SPJ3

Answer:

Explanation:

Most of the liability costs are coming from payroll, the individual salesperson. This employee only worked for 20 hours during April, and yet still makes an income of $1000 dollars. This means they have an hourly rate of $50 an hour, which is way more than the standard employee should be making. I would recommend Janet and Omar to decrease the hourly rate to something more standard, like minimum wage. This would decrease their liability costs by more than 50% because California's minimum wage rate is only about $12-13.

Boilermaker House Painting Company incurs the following transactions for September. 1. Paint houses in the current month for $15,000 on account. Assets increase and stockholders' equity increases.
2. Purchase painting equipment for $16,000 cash. One asset increases and another asset decreases.
3. Purchase office supplies on account for $2,500. Assets increase and liabilities increase.
4. Pay employee salaries of $3,200 for the current month. One asset increases and another asset decreases.
5. Purchase advertising to appear in the current month, $1,200. Assets increase and stockholders' equity increases.
6. Pay office rent of $4,400 for the current month. Assets decrease and stockholders' equity decreases.
7. Receive $10,000 from customers in (1) above. One asset increases and another asset decreases.
8. Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. Assets increase and liabilities increase.
For each transaction, describe the dual effect on the accounting equation. For example, for the first transaction, (1) assets increase and (2) stockholders' equity increases.

Answers

The descriptionof the dual effects of the transactions on the accounting equation is as follows:

1. Asset increases (Accounts Receivable) and stockholders' equity (Retained Earnings) increases.

2. One asset (Equipment) increases and another asset (Cash) decreases.

3. Assets (Supplies) increase and liabilities (Accounts Payable) increase.

4. Assets (Cash) decrease and stockholders' equity (Retained Earnings) decreases.

5. Assets (Cash) decrease and stockholders' equity (Retained Earnings) decreases.

6. Assets (Cash) decrease and stockholders' equity (Retained Earnings) decreases.

7. One asset (Cash) increases and another asset (Accounts Receivable) decreases.

8. Assets (Cash) increase and liabilities (Deferred Revenue) increase.

What is the Accounting Equation?

The accounting equation is a depiction that assets equal liabilities and equity at every given time and with every transaction.  This equation gives each transaction the dual effect.

Data Analysis:

1. Accounts Receivable $15,000 Service Revenue $15,000

2. Equipment $16,000 Cash $16,000

3. Supplies $2,500 Accounts Payable $2,500

4. Salaries Expense $3,200 Cash $3,200

5. Advertising Expense $1,200 Cash $3,200

6. Rent Expense $4,400 Cash $4,400

7. Cash $10,000 Accounts Receivable $10,000

8. Cash $5,000 Deferred Revenue $5,000

Thus, the dual effect means that each transaction affects, at least, two accounts of the accounting equation.

Learn more about the dual effects of accounting transactions at brainly.com/question/2707498

Other Questions