Martin Electronics has an accounts receivable turnover equal to 11 times. If accounts receivable are equal...
Martin Electronics has an accounts receivable turnover equal to 11 times. If accounts receivable are equal to $90,000, what is the value for average daily credit sales?
Homework Answers
Add Answer to:
Martin Electronics has an accounts receivable turnover equal to
11 times. If accounts receivable are equal...
Martin Electronics has an accounts receivable turnover equal to 12 times. If accounts receivable are equal...
Martin Electronics has an accounts receivable turnover equal to 12 times. If accounts receivable are equal to $115,000, what is the value for average daily credit sales?
Martin Electronics has an accounts receivable turnover equal to 10 times If accounts receivable are equal...
Martin Electronics has an accounts receivable turnover equal to 10 times If accounts receivable are equal to $100,000, what is the value for average daily credit sales? (Use a 360-day year. Round your answer to 2 decimal places.) Average daily credit sales
In the table below the information for four companies is provided. Company Accounts Receivable turnover Average...
In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Martin 14.70 28.80 Lewis 12.80 25.65 Danforth 10.65 33.15 Garner 13.30 27.80 Industry Average 13.60 28.15 If Garner's net credit sales are $684950, what are its average net accounts receivable?
The accounts receivable turnover is a method of evaluating the solvency of net accounts receivable. can...
The accounts receivable turnover
is a method of evaluating the solvency of net accounts
receivable.
can be used to compute the average collection period.
is computed by dividing net credit sales for the accounting
period by the cash realizable value of accounts receivable on the
last day of the accounting period.
is only important to internal users of accounting
information.
If a firm has $400,000 in credit sales and $80,000 in average accounts receivable its accounts...
If a firm has $400,000 in credit sales and $80,000 in average accounts receivable its accounts receivable turnover is ____ times and its approximate average days collections is ____ days. ( Whole numbers, no decimals ).
Handi Mart, a retail store, has an accounts receivable turnover of 4.5 times. The industry average...
Handi Mart, a retail store, has an accounts receivable turnover of 4.5 times. The industry average is 12.5 times. Does Handi Mart have a collection problem with its receivables? Handi Mart (has / does not have) a problem. And explain Why.
Mandesa, Inc. has current liabilities of $8,700,000, current ratio of 1.9 times, inventory turnover of 11...
Mandesa, Inc. has current liabilities of $8,700,000, current ratio of 1.9 times, inventory turnover of 11 times, average collection period of 37 days, and credit sales of $64,700,000. Calculate the value of cash and marketable securities.
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....
Crockett Electronics has a quick ratio of 2.00x, $28,800 in cash, $16,000 in accounts receivable, some...
Crockett Electronics has a quick ratio of 2.00x, $28,800 in cash, $16,000 in accounts receivable, some inventory, total current assets of $64,000, and total current liabilities of $22,400. The company reported annual sales of $400,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? O 20.83x O 2.86 x 8.01x о 22.91 The inventory turnover ratio across companies in the electronics industry is 17.71x. Based on this information, which...
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...
Martin Electronics has an accounts receivable turnover equal to 10 times If accounts receivable are equal to $100,000, what is the value for average daily credit sales? (Use a 360-day year. Round your answer to 2 decimal places.) Average daily credit sales
The accounts receivable turnover
is a method of evaluating the solvency of net accounts
receivable.
can be used to compute the average collection period.
is computed by dividing net credit sales for the accounting
period by the cash realizable value of accounts receivable on the
last day of the accounting period.
is only important to internal users of accounting
information.
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....
Crockett Electronics has a quick ratio of 2.00x, $28,800 in cash, $16,000 in accounts receivable, some inventory, total current assets of $64,000, and total current liabilities of $22,400. The company reported annual sales of $400,000 in the most recent annual report. Over the past year, how often did Crockett Electronics sell and replace its inventory? O 20.83x O 2.86 x 8.01x о 22.91 The inventory turnover ratio across companies in the electronics industry is 17.71x. Based on this information, which...
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...
Most questions answered within 3 hours.
-
Briefly describe:
Investigating and assessing the impact of cost management
quality (CMQ) on the:
(a) effectiveness...
asked 1 hour ago -
Part A:
Use Henry's law to determine the molar solubility of helium at a
pressure of...
asked 2 hours ago -
Can you store the following chemicals in the same storage area:
yes, no and why
a....
asked 4 hours ago -
Hello class,
I found this article to be very interesting and relevant to the
concepts we...
asked 4 hours ago -
Consider the following relational database schema, which
describes the schedule of competition among National Football
(soccer)...
asked 5 hours ago -
Use the answer choices below for the next ____
questions
A) The Heart B) Veins C)...
asked 5 hours ago -
(Java) HELP!
Create a program that will ask the user to enter their first
name and...
asked 5 hours ago -
Suppose that the weight of an newborn fawn is Uniformly
distributed between 2.5 and 4 kg....
asked 6 hours ago -
Java Programming:
Make a Java program with two processes, a producer and a
consumer. If you...
asked 6 hours ago -
A pressure as low as 1 ✕ 10-8 torr can be achieved
using an oil diffusion...
asked 6 hours ago -
Identify the 6 major steps in an operational analysis
and briefly describe what each step is...
asked 6 hours ago -
The nucleus of the atom is composed of subatomic particles, one
of them being the proton...
asked 6 hours ago