Homework Answers
Correct answer------------12 times per year
Working
| Accounts receivables Turnover ratio | ||||||
| Net Credit Sales | / | Average Inventory | = | Accounts receivables Turnover ratio | ||
| $ 240,000.00 | / | $ 20,000.00 | = | 12.0 | Times per year | |
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Assessment 3: Senath Company's annual report... of 2 Senath Company's annual report reveals net credit sales...
Multiple Choice Question 137 Blossom Company had net credit sales of $13016000 and cost of goods...
Multiple Choice Question 137 Blossom Company had net credit sales of $13016000 and cost of goods sold of $16815000 for the year. The average inventory for the year amounted to $1770000. The inventory turnover for the year is A_ 0.8 times. B_ 9.5 times. C- 7.4 times. D_ 2.0 times.
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000...
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000 $520,000 Cost of goods sold 409,500 312,000 Inventory at the end of year 64,000 85,000 Accounts receivable at end of year 90,000 50,000 Compute gross profit percentage for 2017. (Round answer to 0 decimal places, e.g. 25%) Gross profit percentage Compute the inventory turnover for 2017. (Round answer to 1 decimal place, e.g. 5.1) times Inventory turnover Compute accounts receivable turnover for 2017. (Round...
1. following information is taken from the annual report of B&B: (in thousands) Year 2 Year...
1. following information is taken from the annual report of B&B: (in thousands) Year 2 Year 1 Net sales $200,000 $145,200 Accounts receivable, net 20,000 16,400 How much is the accounts receivable turnover ratio for Year 2? 8.0 13.1 11.8 10.0 2. The following information is taken from the annual report of B&B: (in thousands) Year 2 Year 1 Net sales $160,000 $105,200 Accounts receivable, net 20,000 15,000 What is the receivable collection period for Year 2? 46 days 12...
Multiple Choice Question 187 Windsor, Inc. had net credit sales during the year of $1128800 and...
Multiple Choice Question 187 Windsor, Inc. had net credit sales during the year of $1128800 and cost of goods sold of $448000. The balance in accounts receivable at the beginning of the year was $122400 and at the end of the year was $149600. What was the accounts receivable turnover? 8.30 7.00 5.10 10.30
A recent annual report for NPS contained the following data Accounts receivable Less: Allowance for doubtful...
A recent annual report for NPS contained the following data Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) (dollars in thousands) Current Year Previous Year $ 3,737,000 $4,547,000 178,000 145,000 5 3,559, eee $4,402,800 $34,597,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year (Use 365 days a year. Do not round Intermediate calculations. Enter your answers in thousands not in dollars.) Receivables Turnover...
Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of...
Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of Brandees and Munchems) reported the following amounts (in millions of dollars): $14,670 Revenues, for the year ended May 31, 2015 Accounts receivable, net, May 31, 2015 Accounts receivable, net, May 31, 2014 953 1,082 Requiredi 1. Compute Rise-n-shine Company's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places...
A recent annual report for NPS contained the following data: (dollars in thousands) Current Year Previous...
A recent annual report for NPS contained the following data:
(dollars in thousands)
Current Year
Previous Year
Accounts receivable
$
3,727,000
$
4,527,000
Less: Allowance for doubtful accounts
185,000
148,000
Net accounts receivable
$
3,542,000
$
4,379,000
Net sales (assume all on credit)
$
35,397,000
Required:
1. Determine the receivables turnover ratio and
average days sales in receivables for the current year.
(Use 365 days a year. Do not round intermediate
calculations. Enter your answers in thousands not in
dollars.)...
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3...
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio times e Textbook and Media List of Accounts Compute 3M's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365...
A scenario under which a company's credit sales are increasing and its accounts receivable turnover is...
A scenario under which a company's credit sales are increasing and its accounts receivable turnover is decreasing might suggest: Multiple Choice cookie jar accounting. channel stuffing. improved receivables monitoring. an investment opportunity.
TB 13-52 Which of the following measures would assist... Which of the following measures would assist...
TB 13-52 Which of the following measures would assist... Which of the following measures would assist in assessing the profitability of a company? points Multiple Choice eBook Current ratio References Debt-to-assets ratio Receivables turnover ratio Fixed asset turnover ratio TB 13-71 Judging only from the ratios given, which of... Judging only from the ratios given, which of the following clothing wholesalers is least likely to have cash flow problems? points Multiple Choice eBook Company D, who has a receivables turnover...
Brief Exercise 220 Selected data for Buechner Corporation appear below. 2017 2016 Net credit sales $630,000 $520,000 Cost of goods sold 409,500 312,000 Inventory at the end of year 64,000 85,000 Accounts receivable at end of year 90,000 50,000 Compute gross profit percentage for 2017. (Round answer to 0 decimal places, e.g. 25%) Gross profit percentage Compute the inventory turnover for 2017. (Round answer to 1 decimal place, e.g. 5.1) times Inventory turnover Compute accounts receivable turnover for 2017. (Round...
Multiple Choice Question 187 Windsor, Inc. had net credit sales during the year of $1128800 and cost of goods sold of $448000. The balance in accounts receivable at the beginning of the year was $122400 and at the end of the year was $149600. What was the accounts receivable turnover? 8.30 7.00 5.10 10.30
A recent annual report for NPS contained the following data Accounts receivable Less: Allowance for doubtful accounts Net accounts receivable Net sales (assume all on credit) (dollars in thousands) Current Year Previous Year $ 3,737,000 $4,547,000 178,000 145,000 5 3,559, eee $4,402,800 $34,597,000 Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year (Use 365 days a year. Do not round Intermediate calculations. Enter your answers in thousands not in dollars.) Receivables Turnover...
Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of Brandees and Munchems) reported the following amounts (in millions of dollars): $14,670 Revenues, for the year ended May 31, 2015 Accounts receivable, net, May 31, 2015 Accounts receivable, net, May 31, 2014 953 1,082 Requiredi 1. Compute Rise-n-shine Company's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places...
A recent annual report for NPS contained the following data:
(dollars in thousands)
Current Year
Previous Year
Accounts receivable
$
3,727,000
$
4,527,000
Less: Allowance for doubtful accounts
185,000
148,000
Net accounts receivable
$
3,542,000
$
4,379,000
Net sales (assume all on credit)
$
35,397,000
Required:
1. Determine the receivables turnover ratio and
average days sales in receivables for the current year.
(Use 365 days a year. Do not round intermediate
calculations. Enter your answers in thousands not in
dollars.)...
Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio times e Textbook and Media List of Accounts Compute 3M's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365...
TB 13-52 Which of the following measures would assist... Which of the following measures would assist in assessing the profitability of a company? points Multiple Choice eBook Current ratio References Debt-to-assets ratio Receivables turnover ratio Fixed asset turnover ratio TB 13-71 Judging only from the ratios given, which of... Judging only from the ratios given, which of the following clothing wholesalers is least likely to have cash flow problems? points Multiple Choice eBook Company D, who has a receivables turnover...
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