a company had total sales of $700,000, net sales of $696,800, and average accounts receivable of...
Homework Answers
Answer :
Accounts receivable turnover = Credit sales / Average accounts receivable it is also said to be the efficiency
Therefore the accounts receivable is = 700000/104000
= 8.73
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company had total sales of $700,000, net sales of $696,800, and
average accounts receivable of...
A company had net sales of $550,000 and an average accounts receivable of $110,000. Its accounts receivable turnove...
A company had net sales of $550,000 and an average accounts receivable of $110,000. Its accounts receivable turnover equals 5.0. True or False True True False False
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its...
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its accounts receivable turnover equals: Multiple Choice 8.61 012 0.10 0.82 10.51 A company borrowed $28,000 by signing a 180-day promissory note at 6 %. The maturity value of the note is: (Use 360 days a year.) Multiple Choice $33,740.00 $34,020.00 $28,840.00 $34,860.00 $35,280.00 The amount due on the maturity date of a $11,200, 90-day 7 % , note receivable is: (Use...
2 A company had net sales of $520,000, total sales of $670,000, and an average accounts...
2
A company had net sales of $520,000, total sales of $670,000, and an average accounts receivable of $84,000. Its accounts receivable turnover equals: Multiple Choice 0.16 0.13 7.98 O.78 6.19 A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year, management estimated that $31,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance...
a company had average total assets of 887000 its gross sales were 1090000 net sales 1000000...
a company had average total assets of 887000 its gross sales were 1090000 net sales 1000000 the company s total asset turnover equals
In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.
In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)Accounts receivable turnover _____ timesCalculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)Average collection period _____ days
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine...
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net)...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income...
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700. The accounts receivable turnover ratio is: O 0.52 times. 18.4 times. 36.8 times. 19.4 times. 20.4 times.
Calculate the accounts receivable turnover and average collection period. Assume that average net accounts receivable were...
Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Question 14 0.67/1 View Policies Show Attempt History Current Attempt in Progress During its first year of operations, Sandhill Company had credit sales of $3,900,000, of which $410,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct....
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
A company had net sales of $550,000 and an average accounts receivable of $110,000. Its accounts receivable turnover equals 5.0. True or False True True False False
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its accounts receivable turnover equals: Multiple Choice 8.61 012 0.10 0.82 10.51 A company borrowed $28,000 by signing a 180-day promissory note at 6 %. The maturity value of the note is: (Use 360 days a year.) Multiple Choice $33,740.00 $34,020.00 $28,840.00 $34,860.00 $35,280.00 The amount due on the maturity date of a $11,200, 90-day 7 % , note receivable is: (Use...
2
A company had net sales of $520,000, total sales of $670,000, and an average accounts receivable of $84,000. Its accounts receivable turnover equals: Multiple Choice 0.16 0.13 7.98 O.78 6.19 A company ages its accounts receivables to determine its end of period adjustment for bad debts. At the end of the current year, management estimated that $31,750 of the accounts receivable balance would be uncollectible. Prior to any year-end adjustments, the Allowance for Doubtful Accounts had a credit balance...
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700. The accounts receivable turnover ratio is: O 0.52 times. 18.4 times. 36.8 times. 19.4 times. 20.4 times.
Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Question 14 0.67/1 View Policies Show Attempt History Current Attempt in Progress During its first year of operations, Sandhill Company had credit sales of $3,900,000, of which $410,000 remained uncollected at year-end. The credit manager estimates that $23,400 of these receivables will become uncollectible. Your answer is correct....
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
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