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Describe the following terms or accounts related to receivables a) Receivables – what sorts of things are included b) Trade receivables c) Short versus long-term receivables d) Accounts receivable e) Non-trade receivables
What is the quick ratio for the year ending 10/31/2010? Use total net receivables. Also pay attention to the dates in the question. 0.870 0.638 0.592 1.046 None of the above. Toro Co. (The) (NYS: TTC) Exchange rate used is that of the Year End reported date As Reported Annual Balance Sheet Report Date 10/31/2010 Currency USD Audit Status Not Qualified Consolidated Yes Scale Thousands Cash & cash equivalents 177,366 Customer receivables, gross 132,182 Less: allowance for doubtful accounts 3,828...
Your firm had net sales of $80,000 this past year and receivables of $20,000; and the cost of goods sold of $522,000. What were the days sales outstanding? Please show work and explain.
Jones Ltd Trial Balance at 30 September 20X0 included: Debit $ Credit $ Receivables ledger control account 90,350 Allowance for doubtful debts brought forward 2,490 The following information is also available: (1) No entries have been made in respect of cash of $1,320 received from Marylyn Ltd whose balance had been written off last year, and 2) At 30 September 20X0 an irrecoverable balance of $1,950 is to be written off and the receivable allowance is to be adjusted to...
Explain why the analysis of receivables approach provides the most accurate estimate of current net realizable value of the receivables.
"When calculating cash flows, net proceeds _____ be included, changes in working capital _____ be included, and interest payments _____ be included." Should; should; should Should; should; should not Should; should not; should Should; should not; should not Should not; should not; should Should not; should; should not Should not; should not; should not
Does this mean that $10 and $20 included $x and $y or excluded it? In other words, is $10 and $20 total receivables or do I need to add $10 and $20 to get total receivables? 2019 2018 Accounts receivable, net of allowance of $x and $y respectively $10 $20
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 = _______
Which receivables figure - the total amount that customers owe the company, or the net amount the company expects to collect - are investors more interested in as they consider buying the company's stocks? Provide your reason. Is this statement true or false? "Credit card sales increase accounts receivables." Explain why or why not. Does using the direct write-off method of accounting for un-collectibles under or overstates assets? Explain.
The Dahlia Company has net income of $155,850. There are currently 27.85 days' sales in receivables. Total assets are $844,000, total receivables are $146,900, and the debt-equity ratio is .45 What is the company's profit margin? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Profit margin What is the company's total asset turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Total...