Homework Answers
Average accounts receivable = ( Beginning accounts receivable + Ending accounts receivable)/2
= (88,000+94,000)/2
= $91,000
Accounts receivable turnover = Net Sales/Average accounts receivable
= 719,500/91,000
= 7.91
Third option is correct option.
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Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover...
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover...
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,900 $ 33,650 104,000 67,000 92,500 86,500 128,000 132,000 13,500 11,100 395,000 345,000 106,400 114,800 718,000 683,000 397,000 382,000 Multiple Choice 8.02 7.76 6.90 O 5.61 8.30 < Prey 29 of 36 !!! Next > search...
pls help? Refer to the following selected financial information from Texas Electronics Compute the company's accounts...
pls help?
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,800 117,899 12,129 13,500 388,000 392,000 113,400 111,750 711,eee 706, eee 390, 385,500 Multiple Choice 8.28 100 8.62 o 828. o 8.62 o 790. o 5.78. o...
Refer to the following selected financial information from Texas Electronics, Compute the company's working capital for...
Refer to the following selected financial information from Texas Electronics, Compute the company's working capital for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,900 $ 32,650 94,000 62,000 87,500 81,500 123,000 127,000 12,500 10,100 390,000 340,000 111,400 109,800 713,000 678,000 392,000 377,000 Multiple Choice $156,000 $231000 $243.500. $120,500 < Prey 22 of 36 E Next > O re to search...
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Refer to the following selected financial information from Texas Electronics Compute the company's working capital for...
Refer to the following selected financial information from Texas Electronics Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,090 385,500 ο $232,700. ο $220,600. ο $147,200. ο $111,700. ο $142,700.
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Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover...
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Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for...
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Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for...
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Compute Wainwright Company's (a) accounts receivable turnover and (b) average collection period in days.
In 2014, Wainwright Company has net credit sales of $1,300,000 for the year. It had a beginning accounts receivable (net) balance of $101,000 and an ending accounts receivable (net) balance of $107,000. Compute Wainwright Company's (a) accounts receivable turnover and (b) average collection period in days.
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,900 $ 33,650 104,000 67,000 92,500 86,500 128,000 132,000 13,500 11,100 395,000 345,000 106,400 114,800 718,000 683,000 397,000 382,000 Multiple Choice 8.02 7.76 6.90 O 5.61 8.30 < Prey 29 of 36 !!! Next > search...
pls help?
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,800 117,899 12,129 13,500 388,000 392,000 113,400 111,750 711,eee 706, eee 390, 385,500 Multiple Choice 8.28 100 8.62 o 828. o 8.62 o 790. o 5.78. o...
Refer to the following selected financial information from Texas Electronics, Compute the company's working capital for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,900 $ 32,650 94,000 62,000 87,500 81,500 123,000 127,000 12,500 10,100 390,000 340,000 111,400 109,800 713,000 678,000 392,000 377,000 Multiple Choice $156,000 $231000 $243.500. $120,500 < Prey 22 of 36 E Next > O re to search...
Refer to the following selected financial information from Texas Electronics. Compute the company's current ratio for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,000 385,500 Multiple Choice 1.88 3.05 2.26
Refer to the following selected financial information from Texas Electronics Compute the company's working capital for Year 2. Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 37,500 $ 36,850 90,000 90,000 85,500 86,250 121,000 117,000 12,100 13,500 388,000 392,000 113,400 111,750 711,000 706,000 390,090 385,500 ο $232,700. ο $220,600. ο $147,200. ο $111,700. ο $142,700.
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant asaeta Accounts payable Net sales Cost of goods Bold Year 2 Year 1 $ 39,500 $ 110,000 70,000 95,500 89,500 131,000 135,000 14,100 11,700 398,000 348,000 103, 400 117,00 721,000 686,000 400,000 385,000 Multiple Choice 0 0 6.55 0 0 255. 0 8 .06. 0 0 5.50 0 779
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2. Year 2 Year 1 Cash $ 39,800 $ 33,750 Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 105,000 67,500 93,000 87,000 128,500 132,500 13,600 11,200 395,500 345,500 105,900 115,300 718,500 683,500 397,500 382,500 10 0 0 0 On December 31 of the current year, the unadjusted trial balance of a...
Refer to the following selected financial information from Fennie's, LLC. Compute the company's inventory turnover for Year 2 Year Year 2 $32.250 $37,500 90,000 Cash 60,000 Short-term investments 79,500 Accounts receivable, net Merchandise inventory Prepaid expenses 85,500 125,000 121.000 9.700 12,100 338.000 388.000 Plant assets 107.800 Accounts payable Net sales 113.400 676.000 711.000 375,000 390.000 Cost of goods sold 2.5 points Sa Use the following selected information from Farris, LLC to determine the Year 2 and Year 1 common size...
Refer to the following selected financial information from McCormik, LLC. Compute the company's working capital for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses plant assets Accounts payable Net sales Coat of goods sold Year 2 Year 1 3 Зв, 800 $ 33, 550 103,000 66,500 92,000 86,000 127,500 131,500 13, 400 11,000 394,500 344,500 106,900 114, 300 717, 500 602, 500 396,500 301, 500 Multiple Choice o 3175,800. o О 3254,400. o $267,800. o (...
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