Explain average collection period
Granger Company had $180,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $18,000. The company's average collection period (age of receivables) was closest to?
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Many businesses borrow money during periods of increased business activity to finance inventory and accounts receivable. Target corporation is one of Americas largest general merchandise retailers.
On March 1, 2011, Navy Corporation used excess cash to purchase U.S. Treasury bonds for $103,000 plus accrued interest. The appropriate interest rate is 6%.
Kile Company borrows $63,359 on July 1 from the bank by signing a $63,359, 8%, 1-year note payable. Prepare the journal entries to record (a) the proceeds of the note and (b) accrued interest at December 31, assuming adjusting entries are made onl
Determine the rate earned on total asset, the rate earned on stockholder's equity and the rate earned on common stockholders' equity for the years 2009 and 2010.
Eral Company has $17,000 in cash, $3,000 in marketable securities, $36,000 in current receivables, $24,000 in inventories, and $45,000 in current liabilities. The company's acid-test (quick) ratio is closest to?
Frantic Company had $130,000 in sales on account last year. The beginning accounts receivable balance was $10,000 and the ending accounts receivable balance was $16,000. The company's accounts receivable turnover was closest to?
Suppose that the town elects the first option and issues $10 million in 20-year, 6% coupon bonds at par on September 1, 2013. The town establishes a debt service fund to account for resources that it sets aside to pay principal and interest on the
The Whitton Company uses a discount rate of 16%. The company has an opportunity to buy a machine now for $18,000 that will yield cash inflows of $10,000.
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