If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year...
If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year end gross receivable)"
does this mean to use the average of the begining and end of the year or just the end for gross receivables also what formula should I use ? thanks
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Answer:
You have to use the end year receivables only as it is explicitly mentioned in the question.
I have solved an example for understanding purposes.
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If the question asks me "Compute the accounts receivable
turnover for 2011 and 2010 (use year...
box answers Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years...
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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...
The company's accounts receivable turnover for the year is:
The 2011 financial statements of Lowell Company report total revenues of $2,000 million, accounts receivable of $100 million for 2011 and $95 million for 2010. The company's accounts receivable turnover for the year is:
Given the following information, compute accounts receivable turnover: Gross sales $150,000 Accounts receivable, beginning of year...
Given the following information, compute accounts receivable turnover: Gross sales $150,000 Accounts receivable, beginning of year $18,000 Sales 135,000 Accounts receivable, end of year 22,000 (A) 6.75 (B) 6.82 (C) 6.13 (D) 7.50
12/31/2011 $32,000 Accounts receivable Accounts payable 47,000 Sales 218,800 12/31/2010 $ 39,000 36,000 128,000 2,300 16,000...
12/31/2011 $32,000 Accounts receivable Accounts payable 47,000 Sales 218,800 12/31/2010 $ 39,000 36,000 128,000 2,300 16,000 1,000 9,000 4,000 Sales returns Retained earnings Dividends 47,000 Net income 5,000 36,000 1. Calculate the net profit margin and accounts receivable turnover for 2011. Round your answers to two decimal places 2011 Net Profit Margin Accounts Receivable Turnover 2. How much does Nash make on each sales dollar? Round your answer to two decimal places cents
Given the following information, compute accounts receivable turnover: Gross sales Sales $18,000 22,000 $150,000Accounts receivable, beginning...
Given the following information, compute accounts receivable turnover: Gross sales Sales $18,000 22,000 $150,000Accounts receivable, beginning of year 35,000 Accounts receivable, end of year Oa. 6.82 Ob. 6.13 C. 6.75 Od. 7.50
Explain why we use averages when calculating for example: accounts receivables turnover (why average of accounts...
Explain why we use averages when calculating for example: accounts
receivables turnover (why average of accounts receivable from the
formula), inventory turnover etc.
Accounts Receivable Turnover The accounts receivable turnover is computed as follows: Net Sales Accounts Receivable Turnover = - Average Accounts Receivable
MBA 6-10 Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and...
MBA 6-10
Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place. 2. Compute the days' sales in receivables for Years 1 and 2. Round to the nearest day, 3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place. 4. Compute the days' sales in Inventory for Years 1 and 2. Round to one decimal place. 5. Compute the return on sales for Years 1...
Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December...
Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December 31 for Blum Company are shown below. 2016 2015 Sales $5,794,740 $5,432,660 Accounts receivable: Beginning of year 423,110 474,240 End of year 496,690 416,360 a. Determine the accounts receivable turnover for 2016 and 2015. Round your answers to one decimal place. Accounts Receivable Turnover 2016 2015 b. Determine the number of days' sales in receivables for 2016 and 2015. Use 365 days in...
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....
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of...
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of $299,875. The table also shows how much of the receivables balance originated in each of the previous six months. The company had annual sales of $2.40 million and it normally extends 30-day credit terms to its customers. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the...
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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...
12/31/2011 $32,000 Accounts receivable Accounts payable 47,000 Sales 218,800 12/31/2010 $ 39,000 36,000 128,000 2,300 16,000 1,000 9,000 4,000 Sales returns Retained earnings Dividends 47,000 Net income 5,000 36,000 1. Calculate the net profit margin and accounts receivable turnover for 2011. Round your answers to two decimal places 2011 Net Profit Margin Accounts Receivable Turnover 2. How much does Nash make on each sales dollar? Round your answer to two decimal places cents
Given the following information, compute accounts receivable turnover: Gross sales Sales $18,000 22,000 $150,000Accounts receivable, beginning of year 35,000 Accounts receivable, end of year Oa. 6.82 Ob. 6.13 C. 6.75 Od. 7.50
Explain why we use averages when calculating for example: accounts
receivables turnover (why average of accounts receivable from the
formula), inventory turnover etc.
Accounts Receivable Turnover The accounts receivable turnover is computed as follows: Net Sales Accounts Receivable Turnover = - Average Accounts Receivable
MBA 6-10
Average inventory 11,488 11,039 1. Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place. 2. Compute the days' sales in receivables for Years 1 and 2. Round to the nearest day, 3. Compute the inventory turnover for Years 1 and 2. Round to one decimal place. 4. Compute the days' sales in Inventory for Years 1 and 2. Round to one decimal place. 5. Compute the return on sales for Years 1...
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....
Accounts receivable management This table, shows that Blair Supply had an end-of-year accounts receivable balance of $299,875. The table also shows how much of the receivables balance originated in each of the previous six months. The company had annual sales of $2.40 million and it normally extends 30-day credit terms to its customers. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the...
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