Average accounts receivable balance

Related BrainMass Solutions

• Accounts Receivable Balance

  118413 Company's Average Accounts Receivable Balance Barney's Antique Shop has annual credit sales of $1,080,000 and an average collection period of 40 days in 2007. Assume a 360-day year. What is the company's average accounts receivable balance?

• Accounts Receivables

  Compute the ending balance of accounts receivable on 12/31/10. b. Compute the accounts receivable turnover ratio for 2010. c. Computer the average collection period in days. a.

• Cash Budgeting

  Its accounts are on average 45 days past due. If annual credit sales are $5 million, what is the company's balance in accounts receivable?

• Calculating the Average Collection Period

  current accounts receivable balance $387,615 credit sales for the year $2,945,600 Receivable turnover = Credit sales/Accounts Receivable = 2,945,600/387,615 = 7.6 times Days Sales in Receivable = Accounts Receivable/(Credit Sales/365) = 387,615/(2,945,600

• Cash conversion cycle :sample question

  Cost of goods sold 4,200 Balance sheet data: Beginning of Year End of Year Inventory 500 600 Accounts receivable 100 120 Accounts payable 250 290 Beginning of the year End of the year Average =(Beginning + Ending)

• 7.10 7.12 Direct write-off method versus allowance method 7.13 Accounting for Uncollectible Receivables?Percentage of Sales Method 7.14 Comparing the Percentage of Sales and Percentage of Sales 7.15 Ratio Analysis

  The formula to use are Accounts Receivable Turnover = Sales/Average Accounts Receivable Average Collection Period = 365/Accounts Receivable Turnover Parker Year 3 Year 2 Accounts Receivable Turnover 2.31 2.20

• Average days for the firm to pay its suppliers

  The firm has an average accounts receivable balance of $148,900 and an average accounts payable balance of $163,500. How many days on average does it take the firm to pay its suppliers?

• Calculation of Account Receivable on the basis of Net sales

  What is its accounts receivable balance? Assume it uses a 365-day year. Average sales per day = Average Credit sales / 365 days = $7300000/365 = $20000 A/R = Average sales per day X DSO A/R = $20000X60 days = $1200000.

• Cash collection and Pro-forma Balance Sheet

  Average collection period = Accounts Receivable/Sales/365 = 15 days Accounts Receivable = (3/365) X 15 = $123,288 Fixed Asset Turnover = Sales/Fixed Assets = 5.