Homework Answers
Average receivable= ( Beginning accounts receivable + Ending accounts receivable)/2
= ( 150,000+250,000)/2
= $200,000
Accounts receivable turnover ratio = Net sales / Average receivable
= 2,200,000/200,000
= 11
Correct option is c.
Joilet's accounts receivable turnover ratio for 2010 = 11
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Joliet's 2009 and 2010 financial statements included the following data: 2009 2010 Accounts Receivable $ 150,000...
Could you solve clearly? Thanks a lot!! 15. Joliet's 2009 and 2010 financial statements included the...
Could you solve clearly?
Thanks a lot!!
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Accounts Receivable Analysis
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Could you solve clearly?
Thanks a lot!!
15. Joliet's 2009 and 2010 financial statements included the following data: 2009 2010 Accounts Receivable $ 150,000 $ 250,000 Inventory 150,000 195,000 Total Assets 946,000 878,000 Net Sales (all on credit) 2,000,000 2,200,000 Cost of Goods Sold 1,300,000 1,500,000 Assume a 360-day year for all calculations. a. b. What is Joliet's accounts receivable turnover ratio for 2010? 8.8 10.5 11.0 13.3 14.0 d. e.
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The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
Accounts Receivable Analysis
The following data are taken from the financial statements of
Sigmon Inc. Terms of all sales are 2/10, n/45.
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