Homework Answers
We use average receivable and average inventory while calculating receivable turnover and inventory turnover...
This is because we want to get rough calculation of average for the period i.e. We want to use the average balance in these account receivable and inventory during the year since we are computing inventory turnover and receivable turnover for the period. So best way is compute average by dividing Beginning figures + Ending figures) /2.
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Explain why we use averages when calculating for example: accounts
receivables turnover (why average of accounts...
Continuing Company Analysis—Amazon: Accounts receivable turnover and number of days' sales in receivables Amazon.com is one...
Continuing Company Analysis—Amazon: Accounts receivable turnover
and number of days' sales in receivables
Amazon.com is one of the largest Internet
retailers in the world. Best Buy, Inc. is a
leading retailer of consumer electronics and media products in the
United States. Amazon and Best Buy compete in similar markets;
however, Best Buy sells through both traditional retail stores and
the Internet, while Amazon sells only through the Internet. Sales
and accounts receivable information for both companies for a recent
period...
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....
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round you...
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
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...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD Amazon.com is one of the largest Internet retailers in the world. Best Buy, Inc. is a leading retailer of consumer electronics and media products in the United States. Amazon and Best Buy compete in similar markets: however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Sales and accounts receivable information for both companies for...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) credit) (dollars in thousands) Current Year Previous Year $ 7,851.000 $7.430,000 252,000 178,000 $ 7,599,000 $7,252,000 $60,319,000 Source: FedEx Corporation Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year 2. Explain the meaning of each calculated number.
(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 decimal place. Assume a 365-day year.
Accounts Receivable Analysis A company reports the following:Net sales $1,272,390Average accounts receivable (net) 60,590Determine (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 decimal place. Assume a 365-day year.a. Accounts receivable turnoverb. Number of days' sales in receivables days
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...
What is the Year 2 receivables turnover ratio for Year 2
Consider the following information:Year 2Year 1Accounts receivable$88,000$80,000Merchandise inventory66,00080,000Net sales408,000380,000Cost of goods sold248,000228,000What is the Year 2 receivables turnover ratio for Year 2? (Round your answer to 2 decimal places.) Receivables turnover ratio = _______
My chosen answer is wrong. I know I have to use the accounts payable turnover formula and the turnover expressed in days...
My chosen answer is wrong. I
know I have to use the accounts payable turnover formula and the
turnover expressed in days formula. The formulas are:
Accounts payable turnover (T/O) = Purchases from suppliers
(assumed all on credit) ÷ Average accounts payable
Turnover expressed in days = 365 ÷ T/O (computed from the
formula above)
A company reports Cost of Goods Sold of $275,000, Ending Inventory of $120,000, Beginning Inventory of $15,000, Ending Accounts Payable of $110,000 and Beginning Accounts...
Continuing Company Analysis—Amazon: Accounts receivable turnover
and number of days' sales in receivables
Amazon.com is one of the largest Internet
retailers in the world. Best Buy, Inc. is a
leading retailer of consumer electronics and media products in the
United States. Amazon and Best Buy compete in similar markets;
however, Best Buy sells through both traditional retail stores and
the Internet, while Amazon sells only through the Internet. Sales
and accounts receivable information for both companies for a recent
period...
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....
1 Requirements Calculate the following ratios for 2018 and 2017. When calculating days, round your answer to the nearest whole number a. Current ratio b. Quick (acid-test) ratio c. Inventory turnover and days' inventory outstanding (DIO) d. Accounts receivable turnover e. Days' sales in average receivables or days' sales outstanding (DSO) f. Accounts payable turnover and days' payable outstanding (DPO). Use 1. cost of goods sold in the formula for accounts payable turnover. g. Cash conversion cycle (in days) (When...
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...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD Amazon.com is one of the largest Internet retailers in the world. Best Buy, Inc. is a leading retailer of consumer electronics and media products in the United States. Amazon and Best Buy compete in similar markets: however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Sales and accounts receivable information for both companies for...
E6-24 Computing and Interpreting the Receivables Turnover Ratio A recent annual report for FedEx contained the following data: pre Be Accounts receivable Less: Allowances Net accounts receivable Net sales (assume all on credit) credit) (dollars in thousands) Current Year Previous Year $ 7,851.000 $7.430,000 252,000 178,000 $ 7,599,000 $7,252,000 $60,319,000 Source: FedEx Corporation Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year 2. Explain the meaning of each calculated number.
Consider the following information:Year 2Year 1Accounts receivable$88,000$80,000Merchandise inventory66,00080,000Net sales408,000380,000Cost of goods sold248,000228,000What is the Year 2 receivables turnover ratio for Year 2? (Round your answer to 2 decimal places.) Receivables turnover ratio = _______
My chosen answer is wrong. I
know I have to use the accounts payable turnover formula and the
turnover expressed in days formula. The formulas are:
Accounts payable turnover (T/O) = Purchases from suppliers
(assumed all on credit) ÷ Average accounts payable
Turnover expressed in days = 365 ÷ T/O (computed from the
formula above)
A company reports Cost of Goods Sold of $275,000, Ending Inventory of $120,000, Beginning Inventory of $15,000, Ending Accounts Payable of $110,000 and Beginning Accounts...
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