Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...

Question

Question

Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of the year and $72,400 at

business accounting

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Receivable Turnover Ratio

	Net Sales	/	Average receivable	=	Receivable Turnover Ratio
	$ 876,875.00	/	($ 67,900 + 72,400 )/2	=	12.5	Times

Add a comment

Answer 2

Similar Homework Help Questions

Knowledge Check 01 On July 1, Year 1, the Barley Company loaned $50,000 to the Jackson...

Knowledge Check 01 On July 1, Year 1, the Barley Company loaned $50,000 to the Jackson Co. Thenote has a stated interest rate of 10% and will mature on June 30, Year 2 All payments for principal and interest wi be received at maturity How much interest revenue will Barley report on its income statement for the year ended December 31. Year 1? 3 of 7 Next> 3 4 5 6 7 8 9 Knowledge Check 01 Treadwell company's net...
In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.

In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.)Accounts receivable turnover _____ timesCalculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)Average collection period _____ days
A company reports the following information for the year: Net credit sales Average accounts receivable Cash...

A company reports the following information for the year: Net credit sales Average accounts receivable Cash collections on credit sales $120,000 15,000 105,000 What is the company's receivables turnover ratio? (Round your answer to 1 decimal place.

Below are amounts for two companies: 19 Beginning Accounts Receivable (net) $2,100 3,109 Ending Accounts Receivable...

Below are amounts for two companies: 19 Beginning Accounts Receivable (net) $2,100 3,109 Ending Accounts Receivable (net) $1,800 2,300 Company 1 Company 2 Net Sales $29,000 80,000 7 points 1. For each company, calculate the receivables turnover ratio. (Round your answers to 2 decimal places.) 02:11:14 Company 1 Company 2 Receivables Turnover Ratio times times 2. Which company appears more efficient in collecting cash from sales? Company 1 Company 2
Suppose the 2022 financial statements of 3M Company report net sales of $22.2 billion. Accounts receivable...

Suppose the 2022 financial statements of 3M Company report net sales of $22.2 billion. Accounts receivable (net) are $2.9 billion at the beginning of the year and $3.02 billion at the end of the year. Compute 3M’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio enter the accounts receivable turnover ratio in times rounded to 1 decimal place Compute 3M’s average collection period for accounts receivable in days. (Round answer to 1 decimal...
Knowledge Check 01 The balance sheets of Davidson Corporation reported net fixed assets $620,000 at the...

Knowledge Check 01 The balance sheets of Davidson Corporation reported net fixed assets $620,000 at the end of Year 1 and $340,000 at the end of Year 2. Net sales for Year 2 totaled $1,440,000. What is the fixed-asset turnover ratio for Year 2? (Round your answer to 1 decimal number.)

Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable...

Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 billion at the end of the year. Compute 3M’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio enter the accounts receivable turnover ratio in times rounded to 1 decimal place times eTextbook and Media List of Accounts Compute 3M’s average collection period for...
2 Below are amounts for two companies Beginning Accounts Receivable (net) $2,100 3,200 Ending Accounts Receivable...

2 Below are amounts for two companies Beginning Accounts Receivable (net) $2,100 3,200 Ending Accounts Receivable (net) $1,800 2,300 Net Sales Company 1 Company 2 $21,000 76,eee 00:50:42 1. For each company, calculate the receivables turnover ratio. (Round your answers to 2 decimal places.) Receivables Turnover Ratio Company 1 times Company 2 times 2. Which company appears more efficient in collecting cash from sales? Company 1 Comnany 2 of 40 Next> <Prev Mc Graw Hill Education be here to search...
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable...

Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 billion at the end of the year. (a1) * Your answer is incorrect. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio 7.9 times

Vertical Analysis of Balance Sheets Divide each by total Labines and Stockholluty Knowledge Check 01 Jackson...

Vertical Analysis of Balance Sheets Divide each by total Labines and Stockholluty Knowledge Check 01 Jackson Company reported accounts receivable of $100,000, total current assets of $200,000, total assets of $400,000, and total liabilities of $275,000 at the end of Year 1 and net sales revenue of $500,000 for the year. What is the percentage that will be shown for accounts receivable in the vertical (common size) balance sheet? (Round your answer to 1 decimal place.) Percentage

Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...

Homework Answers

Add Answer to:
Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...

Post as a guest

Earn Coins

Knowledge Check 01 On July 1, Year 1, the Barley Company loaned $50,000 to the Jackson...

In 2022, Blossom Company has net credit sales of $1,727,000 for the year. It had a beginning accounts receivable (net) balance of $102,000 and an ending accounts receivable (net) balance of $118,000.

A company reports the following information for the year: Net credit sales Average accounts receivable Cash...

Below are amounts for two companies: 19 Beginning Accounts Receivable (net) $2,100 3,109 Ending Accounts Receivable...

Suppose the 2022 financial statements of 3M Company report net sales of $22.2 billion. Accounts receivable...

Knowledge Check 01 The balance sheets of Davidson Corporation reported net fixed assets $620,000 at the...

Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable...

2 Below are amounts for two companies Beginning Accounts Receivable (net) $2,100 3,200 Ending Accounts Receivable...

Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable...

Vertical Analysis of Balance Sheets Divide each by total Labines and Stockholluty Knowledge Check 01 Jackson...

Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...

Homework Answers

Add Answer to: Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...

Post as a guest

Earn Coins

Add Answer to:
Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...