Homework Answers
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| Smith & Co. | Amount $ | |
| Sales | 515,000.00 | A |
| Opening Accounts Receivable (Net) | 218,000.00 | B |
| Closing Accounts Receivable (Net) | 224,000.00 | C |
| Average Accounts Receivable (Net) | 221,000.00 | D=(B+C)/2 |
| l. Accounts Receivables Turnover | ||
| Sales Revenue/Average Accounts Receivable | 2.33 | E=C/D |
| So Answer is option B. | ||
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Question Help Smith & Co. reported sales of $515.000 beginning net Accounts Receivable of $218,000 and...
Taxes receivable classified as a/notes If net sales is $550,000, beginning inventory is $110,000, and ending...
Taxes receivable classified as a/notes
If net sales is $550,000, beginning inventory is $110,000, and ending inventory is $125,000, how much would be the accounts receivables turnover? Oa. 4.7 Ob. 5.0 Oc. 4.0 Od. 4.4 Calculator
Beginning Accounts Receivable is $4,200, ending Accounts Receivable Is 55,700, Interest Revenue on the income statement...
Beginning Accounts Receivable is $4,200, ending Accounts Receivable Is 55,700, Interest Revenue on the income statement is 12.400, beginning Interest Receivable is 5470, ending interest Receivable is $200, and Net Sales Revenue is 538,000 What is the cash receipts from customers? O A $35,790 OB $36.690 OC. $25,700 OD. $36,500
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As of December 31, 2015, Gill Co. reported accounts receivable of $218,000 and an allowance for...
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Acompany has not credit soos of $60,000, beginning not accounts receivable of $25,000 and ending net...
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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
The Accounts Receivable account for Johney's Mechanic Shep had a beginning balance of $37.000 During the...
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Sales reported on the income statement totaled $788,000. The beginning balance in accounts receivable was $108,000. The ending balance in accounts receivable was $127,500. Under the direct method of determining the net cash provided by (used in) operating activities on the statement of cash flows, sales adjusted to a cash basis are: The ending balance of accounts receivable was $75,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $360,000. Sales reported...
PLS ANSWER RIGHT AWAY!! it is very urgent!!! Accounts receivable from sales transactions were $47,905 at...
PLS ANSWER RIGHT AWAY!! it is very urgent!!!
Accounts receivable from sales transactions were $47,905 at the beginning of the year and $60,204 at the end of the year. Net income reported on the Income statement for the year was $128,313. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be Oa. $140,612 Ob. $128,313 Oc. $116,014 Od. $12,299 Use the...
QUESTION 24 Fenwick Holdings reported cash sales in 2014 of $220,000. Accounts receivable at the beginning...
QUESTION 24 Fenwick Holdings reported cash sales in 2014 of $220,000. Accounts receivable at the beginning of the year totaled $420,000, with a balance of $490,000 at the end of the year. If the company's accounts receivable turnover is 3.5 for the year, how much are its total sales for the year? $2,250,000 O $1,715,000 O $1,495,000 $1,935,000 QUESTION 25 Real Crisp Company reported cost of goods sold of $800,000 last year. The company's beginning inventory balance was $58,000 and...
Taxes receivable classified as a/notes
If net sales is $550,000, beginning inventory is $110,000, and ending inventory is $125,000, how much would be the accounts receivables turnover? Oa. 4.7 Ob. 5.0 Oc. 4.0 Od. 4.4 Calculator
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Acompany has not credit soos of $60,000, beginning not accounts receivable of $25,000 and ending net accounts receivable of $15,000. Calculate the days' sales in receivables (Round any intermediate calculators to two decimal places, and your final answer to the nearest whole day.) O A 51 days OB. 91 days OC B1 days OD 61 days
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
The Accounts Receivable account for Johney's Mechanic Shep had a beginning balance of $37.000 During the month Johrny made sales on account of 506,000 The endng balance in the Accounts Recelvable account is 530,000 What are cash collections for the menth OA $46.000 OB $53.000 OC S37.000 OD. 83000
Sales reported on the income statement totaled $788,000. The beginning balance in accounts receivable was $108,000. The ending balance in accounts receivable was $127,500. Under the direct method of determining the net cash provided by (used in) operating activities on the statement of cash flows, sales adjusted to a cash basis are: The ending balance of accounts receivable was $75,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $360,000. Sales reported...
PLS ANSWER RIGHT AWAY!! it is very urgent!!!
Accounts receivable from sales transactions were $47,905 at the beginning of the year and $60,204 at the end of the year. Net income reported on the Income statement for the year was $128,313. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be Oa. $140,612 Ob. $128,313 Oc. $116,014 Od. $12,299 Use the...
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