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A company reports the following information for the year: Net credit sales Average accounts receivable Cash...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net)...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine...
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (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 dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
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
Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of...
Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of the year and $72,400 at the end of the year. The company's net sales revenue during the year was $876,875. What was the receivables turnover ratio for the year? (Round your answer to 1 decimal place.) Receivables turnover ratio
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable...
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo $ 1,815 $ 2,762 $ 322,427 TarMart 6,166 6,694 67,878 CostGet 629 665 68,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) 2. Which company appears most...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net),...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
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....
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net),...
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net), end of year Sales on account Current Year Preceding Year $123.000 $95.000 129,012 87,516 950.000 825.000 a. Assuming that credit terms on all sales are 1/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables Round intermediate calculation to whol number and final answers to two decimal place. 1. The accounts receivable turnover Current Year...
Aguilera Corp. has a current accounts receivable balance of $338,500. Credit sales for the year just...
Aguilera Corp. has a current accounts receivable balance of $338,500. Credit sales for the year just ended were $4,847,320. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Receivables : turnover times What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Days' sales in receivables 7 days How long did it...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (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 dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
Knowledge Check 01 Treadwell Tire Company had net accounts receivable of $67,900 at the beginning of the year and $72,400 at the end of the year. The company's net sales revenue during the year was $876,875. What was the receivables turnover ratio for the year? (Round your answer to 1 decimal place.) Receivables turnover ratio
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
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....
The following data are taken from the financial statements Average accounts receivable (net) Accounts receivable (net), end of year Sales on account Current Year Preceding Year $123.000 $95.000 129,012 87,516 950.000 825.000 a. Assuming that credit terms on all sales are 1/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables Round intermediate calculation to whol number and final answers to two decimal place. 1. The accounts receivable turnover Current Year...
Aguilera Corp. has a current accounts receivable balance of $338,500. Credit sales for the year just ended were $4,847,320. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Receivables : turnover times What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Days' sales in receivables 7 days How long did it...
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