Homework Answers
Answer:10.4
Accounts Receivable Turnover = Sales Revenue / Avg.Accounts Receivable
Accounts Receivable Turnover = 520000 / ( 54000 + 46000) /2
= 520000 / 50000
= 10.4
Add Answer to:
Accounts Receivable Turnover Using the following data, calculate this company's accounts receivable turnover. Round your answers...
Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the...
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
Selected data of Islander Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net...
Selected data of Islander Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market As of December 31, 2017 2016 $500,000 $470,000 (25,000) (20,000) 475,000 450,000 600,000 550,000 Income Statement Data Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Year Ended December 31, 2017 2016 $2,500,000 $2,200,000 500,000 400,000 3,000,000 2,600,000 2,000,000 1,800,000 300,000 270,000 50,000 30,000 2,350,000...
Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers...
Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio times times days times The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $6.7 million, and net income of $895,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021...
Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts...
Company's December 31, 2028 unadjusted trial balance reported the following accounts: |||Accounts Payable ............ $54,000||| |||Accounts Receivable ......... $47,000||| |||Advertising Expense ......... $21,000||| |||Cash ........................ $18,000||| |||Common Stock ................ $73,000||| |||Cost of Goods Sold .......... $41,000||| |||Dividends ................... $10,000||| |||Equipment ................... $68,000||| |||Income Tax Expense .......... $20,000||| |||Interest Revenue ............ $46,000||| |||Inventory ................... $55,000||| |||Mortgage Payable ............ $51,000||| |||Retained Earnings ........... $36,000 |||(at January 1, 2028) |||Sales Revenue ............... $93,000||| |||Supplies .................... $28,000||| |||Trademark ................... $49,000||| |||Unearned Revenue ............ $33,000|||...
box answers Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years...
box
answers
Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years ending December 31 for Chiro-Solutions Company follow: 2012 2011 Sales $2,912,000 $2,958,000 Accounts receivable: Beginning of year 300,000 280,000 End of year 340,000 300,000 a. Determine the accounts receivable turnover for 2012 and 2011. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2012 2011 b. Determine the days' sales in receivables for 2012 and 2011. Use 365 days, if...
Op-4J Company's December 31, 2028 unadjusted trial balance reported the following accounts: Accounts Payable ............ $54,000...
Op-4J Company's December 31, 2028 unadjusted trial balance reported the following accounts: Accounts Payable ............ $54,000 Accounts Receivable ......... $47,000 Advertising Expense ......... $21,000 Cash ........................ $18,000 Common Stock ................ $73,000 Cost of Goods Sold .......... $41,000 Dividends ................... $10,000 Equipment ................... $68,000 Income Tax Expense .......... $20,000 Interest Revenue ............ $46,000 Inventory ................... $55,000 Mortgage Payable ............ $51,000 Retained Earnings ........... $36,000 (at January 1, 2028) Sales Revenue ............... $93,000 Supplies .................... $28,000 Trademark ................... $49,000 Unearned Revenue ...............
Accounts Receivable and Inventory Turnover Use the following information to respond to the questions below. Round...
Accounts Receivable and Inventory Turnover Use the following information to respond to the questions below. Round all numbers to 1 place past the decimal (Example: 4.1, 90.7, Current Year Prior Year Net Sales 580,000 539,000 Cost of Goods Sold 377,000 345,000 Accounts Receivable, beginning of year 61,000 73,000 61,400 61,000 Accounts Receivable, end of year Inventory, beginning of year Inventory, end of year 58,000 65,600 87,800 58,000 Current Year Prior Year Accounts Receivable Turnover AR Days (365/AR Turn) Inventory Turnover...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
Problem 8-15B Accounts receivable ratios LO5 Using the Spin Master financial statements in Appendix III, calculate...
Problem 8-15B Accounts receivable ratios LO5 Using the Spin Master financial statements in Appendix III, calculate the following ratios for the years ended December 31, 2017 and December 31, 2016. At December 31, 2015, Spin Master had an accounts receivable balance of $134,618,000 and net sales of $879,406,000. Comment on the change. a. Accounts receivable turnover ratio (round to two decimal places) b. Days’ sales in inventory (round to the nearest day) (On Problem 8-15B assignment, there is a typo...
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...
Required
Compute the accounts receivable turnover for 2018.
Compute the inventory turnover for 2018.
Compute the net margin for 2017.
Selected data from Rooney Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $407,000 (20,350) $386,650 $478,000 2017 $375,000 (15,000) $360,000 $445,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,018,000 Net cash sales 410,000 Net sales 2,428,000 Cost of goods...
Selected data of Islander Company follow: Balance Sheet Data Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories-lower of cost or market As of December 31, 2017 2016 $500,000 $470,000 (25,000) (20,000) 475,000 450,000 600,000 550,000 Income Statement Data Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other Total operating expenses Year Ended December 31, 2017 2016 $2,500,000 $2,200,000 500,000 400,000 3,000,000 2,600,000 2,000,000 1,800,000 300,000 270,000 50,000 30,000 2,350,000...
Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.) Inventory turnover ratio Receivables turnover ratio Average collection period Asset turnover ratio times times days times The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of $6.7 million, and net income of $895,000. The following table shows the company's comparative balance sheets for 2021 and 2020: ($ in thousands) 2021...
box
answers
Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years ending December 31 for Chiro-Solutions Company follow: 2012 2011 Sales $2,912,000 $2,958,000 Accounts receivable: Beginning of year 300,000 280,000 End of year 340,000 300,000 a. Determine the accounts receivable turnover for 2012 and 2011. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2012 2011 b. Determine the days' sales in receivables for 2012 and 2011. Use 365 days, if...
Accounts Receivable and Inventory Turnover Use the following information to respond to the questions below. Round all numbers to 1 place past the decimal (Example: 4.1, 90.7, Current Year Prior Year Net Sales 580,000 539,000 Cost of Goods Sold 377,000 345,000 Accounts Receivable, beginning of year 61,000 73,000 61,400 61,000 Accounts Receivable, end of year Inventory, beginning of year Inventory, end of year 58,000 65,600 87,800 58,000 Current Year Prior Year Accounts Receivable Turnover AR Days (365/AR Turn) Inventory Turnover...
Cash Accounts receivable (net) Inventory Accounts payable Notes payable Common stock, $100 par Retained earnings December 31, 2017 $ 34,000 77,000 210,000 54,000 29,000 417,000 106,000 December 31, 2016 $ 16,500 122,500 183,000 92,500 65,000 417,000 102,500 Additional information: 1. The inventory turnover is 2.2 times. 2. The return on common stockholders' equity is 25%. The company had no additional paid-in capital. 3. The accounts receivable turnover is 8.1 times. 4. The return on assets is 12.5%. 5. Total assets...
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...
Most questions answered within 3 hours.
-
Python Program: Design the logic for and implement a program
that merges the two files into...
asked 6 minutes ago -
Human relations refer to the way a company arranges people,
jobs, and communications so that work...
asked 7 minutes ago -
The specific radiocarbon activity of a sample of wood is 6.25
gms dpm/gm of carbon. The...
asked 11 minutes ago -
An aqueous magnesium chloride solution is made by dissolving
6.96 moles of MgCl2 in sufficient water...
asked 13 minutes ago -
Ken believes the average age of men who come to get a haircut at
his barber...
asked 35 minutes ago -
(Ratio Analysis): Last year Co. XYZ had sales of $ 400,000, with
“cost of goods sold”...
asked 44 minutes ago -
can someone please write the balanced chemical
equation for the synthesis of Bromoacetanilide
from;
aniline +...
asked 40 minutes ago -
1. If a corporation purchases land and building and subsequently
tears down the building and uses...
asked 51 minutes ago -
Consider a 23-year bond with 7 percent annual coupon payments.
The market rate (YTM) is 6.4...
asked 54 minutes ago -
a tuba creates a 4th harmonic of frequency 116.5 Hz. what is the
frequency of the...
asked 1 hour ago -
A coconut mass 2kg falls from a 30m tall tree. The coconut falls
and comes to...
asked 1 hour ago -
Group Policies
Research GROUP POLICY OBJECTS (GPO'S)
You can start in the Windows Server 2012 eBook...
asked 1 hour ago