AK
amrit kahlon
Answers (6)
AK
Answered
Rivers Company had accounts receivable of $150000 on January 1 2016. The only transactions that affected accounts receivable during 2016 were net credit sales of $1500000 cash collections of $1400000 and accounts written off of $50000.
Instructions
(a) Compute the ending balance of accounts receivable.
(b) Compute the accounts receivable turnover for 2016.
(c) Compute the average collection period in days.
Instructions
(a) Compute the ending balance of accounts receivable.
(b) Compute the accounts receivable turnover for 2016.
(c) Compute the average collection period in days.
On Jul 13, 2024
(a)
Beginning accounts receivable $150,000 Net credit sales.1,500,000Cash collections (1,400,000) Accounts written off(50,000) Ending accounts receivable $200,000\begin{array}{lrr} \text { Beginning accounts receivable } &\$150,000\\ \text { Net credit sales.} &1,500,000\\ \text {Cash collections } &(1,400,000)\\ \text { Accounts written off} &(50,000)\\ \text { Ending accounts receivable } &\$200,000\\\end{array} Beginning accounts receivable Net credit sales.Cash collections Accounts written off Ending accounts receivable $150,0001,500,000(1,400,000)(50,000)$200,000
(b) $1500000/[($150000 + $200000)/2] = 8.57
(c) 365/8.57 = 42.6 days
Beginning accounts receivable $150,000 Net credit sales.1,500,000Cash collections (1,400,000) Accounts written off(50,000) Ending accounts receivable $200,000\begin{array}{lrr} \text { Beginning accounts receivable } &\$150,000\\ \text { Net credit sales.} &1,500,000\\ \text {Cash collections } &(1,400,000)\\ \text { Accounts written off} &(50,000)\\ \text { Ending accounts receivable } &\$200,000\\\end{array} Beginning accounts receivable Net credit sales.Cash collections Accounts written off Ending accounts receivable $150,0001,500,000(1,400,000)(50,000)$200,000
(b) $1500000/[($150000 + $200000)/2] = 8.57
(c) 365/8.57 = 42.6 days
AK
Answered
Content validation would be most appropriate for evaluating predictors of future job behaviors for
A) any top management position
B) all positions that have multiple quantifiable features
C) a newly created position
D) contingency workers with long-time relationships with the organization
E) any lower-level or midlevel management position
A) any top management position
B) all positions that have multiple quantifiable features
C) a newly created position
D) contingency workers with long-time relationships with the organization
E) any lower-level or midlevel management position
On Jul 10, 2024
C
AK
Answered
Marketing executives appear to believe that salespeople lie from time to time during sales calls. The reason executives believe this occurs is due to what cause?
A) SMEI guidelines
B) the changing sales environment
C) sales forecasting
D) the pressure to meet sales goals
E) social media
A) SMEI guidelines
B) the changing sales environment
C) sales forecasting
D) the pressure to meet sales goals
E) social media
On Jun 12, 2024
D
AK
Answered
When the elasticity coefficient for resource demand is greater than one,resource demand is:
A) inelastic.
B) elastic.
C) unit-elastic.
D) perfectly inelastic.
A) inelastic.
B) elastic.
C) unit-elastic.
D) perfectly inelastic.
On Jun 09, 2024
B
AK
Answered
Inventory valuation in operation costing requires
A) direct materials and conversion costs being traced to processes.
B) direct material and conversion costs being traced to batches.
C) direct materials traced to batches and conversion costs traced to processes.
D) direct materials traced to processes and conversion costs traced to batches.
A) direct materials and conversion costs being traced to processes.
B) direct material and conversion costs being traced to batches.
C) direct materials traced to batches and conversion costs traced to processes.
D) direct materials traced to processes and conversion costs traced to batches.
On May 13, 2024
C
AK
Answered
The main similarity between extrinsic rewards and intrinsic rewards is that they both satisfy so-called higher order needs such as survival and security.
On May 10, 2024
False