find the annual credit sales for a firm with an average daily investment in receivable and...

find the annual credit sales for a firm with an average daily investment in receivable and collection period 69723 and 31.4 days respectively?

Solutions

Expert Solution

The annual credit sales = (Average daily investment in receivable * 365)/Collection period

The annual credit sales = (69,723 * 365)/31.4

The annual credit sales = 25,448,895/31.4

The annual credit sales = $810,474.3630573248

jeff jeffy answered 2 years ago

Next > < Previous

Related Solutions

A firm’s annual credit sales are $1.34 million, with 51% of its daily average paid out...

A firm’s annual credit sales are $1.34 million, with 51% of its daily average paid out in purchases. It usually takes the company 30 days to meet its purchasing obligations. This payment pattern has not changed in recent years. However, the firm’s commitment to accounts receivable has shifted based on its current annual net income of $28k which meets the 2.3% required return, anticipated by senior management a year earlier. Normally, the firm collects its accounts in 24 days, an...

The accounts receivable turnover ratio of a company is 2; if its annual credit sales is...

The accounts receivable turnover ratio of a company is 2; if its annual credit sales is $ 951810, what is the average value of outstanding credit (or value of accounts receivable)? If the company operates 350 a year, what is the average number of days it takes to get a credit sale paid? Average outstanding credit = $ . (Round to TWO places of decimal) Average number of days to get payment on a credit sale = (Round to the nearest integer)

Find the average daily balance for the given credit-card account. Assume the billing date is the...

Find the average daily balance for the given credit-card account. Assume the billing date is the same day in each month, and use the number of days in each month. Then find the finance charge if interest is 1.11.1% per month on the average daily balance. Finally, find the balance at the end of the billing cycle. Previous balance $655.39655.39 Jan. 15Jan. 15 Billing Date Jan. 20Jan. 20 Mail Order $nbsp 21.91 21.91 Jan. 23Jan. 23 Returns CR $nbsp 19.45...

A local electronics firm wants to determine their average daily sales (in dollars.) A sample of...

A local electronics firm wants to determine their average daily sales (in dollars.) A sample of the sales for 36 days revealed an average sales of $141,000. Assume that the standard deviation of the population is known to be $12,000. Then, the 95% margin of error will be . . . Provide a 95% confidence interval estimate for the true average daily sales. $137,080 to $144,920 $139,500 to $143,000 $132,800 to 139,200 $136,200 to $142,200 $140,600 to $143,200 $135,600 to...

1) What is the average daily sales for the month? 2) What is the average daily...

1) What is the average daily sales for the month? 2) What is the average daily food cost for the month? 3) What is the average daily employee hours for the month? 4) What is the correlation between daily sales and daily food cost? 5) What is the correlation between daily sales and daily employee hours? 6) Are daily food costs or daily employee hours more correlated with sales? Why do you think this is? 7) What is the Y...

A& B Global's annual credit sales are $18 million; the accounts receivable balance is $1.5 million;...

A& B Global's annual credit sales are $18 million; the accounts receivable balance is $1.5 million; the cost of goods sold is $12.6 million; the inventory balance is $350,000, and the balance in accounts payable is $700,000. Compute A&B's operating cycle. Compute A&B's cash conversion cycle.

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks...

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 30 days revealed an average daily sales of $200,000. Assume that the standard deviation of the population is known to be $20,000. 8. Provide a 90% confidence interval estimate for the true average daily sales. 9. Provide a 97% confidence interval estimate for the true average daily sales.

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks...

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 30 days revealed an average daily sales of $200,000. Assume that the standard deviation of the population is known to be $20,000. a) Provide a 90% confidence interval estimate for the true average daily sales. b) Provide a 97% confidence interval estimate for the true average daily sales.

Find the average annual growth rate of the dividends for each firm listed in the following...

Find the average annual growth rate of the dividends for each firm listed in the following table. Dividend Payment per Year Firm 2006 2007 2008 2009 2010 2011 Loewen $1.001.00 $1.051.05 $1.101.10 $1.221.22 $1.251.25 $1.351.35 Morse $1.001.00 $0.950.95 $0.800.80 $1.201.20 $1.201.20 $1.451.45 Huddleston $1.251.25 $2.752.75 $3.703.70 $3.803.80 $4.004.00 $4.754.75 Meyer $2.252.25 $2.502.50 $2.002.00 $2.722.72 $2.802.80 $3.003.00 A) What is the average annual growth rate of the dividends paid by Loewen? B) What is the average annual growth rate of the...

Find the average annual growth rate of the dividends for each firm listed in the following...

Find the average annual growth rate of the dividends for each firm listed in the following table. Firm 2006 2007 2008 2009 2010 2011 Loewen $1.00 $1.07 $1.20 $1.20 $1.27 $1.40 Morse $1.00 $1.00 $0.80 $1.30 $1.25 $1.40 Huddleston $1.00 $2.75 $3.60 $3.80 $3.80 $5.00 Meyer $2.25 $2.10 $2.00 $2.74 $2.80 $2.95

Subjects