The company's accounts receivable turnover for the year is:
The 2011 financial statements of Lowell Company report total revenues of $2,000 million, accounts receivable of $100 million for 2011 and $95 million for 2010. The company's accounts receivable turnover for the year is:
Homework Answers
Calculation of Account Receivable Turnover
Account Receivable Turnover = Sales Revenue / Average Accounts Receivables
Average Accounts Receivables = Opening Accounts Receivables + Closing Accounts Receivables / 2
=95,000,000 + 100,000,000 / 2
=97,500,000
Account Receivable Turnover = Sales Revenue / Average Accounts Receivables
= 2,000,000,000 / 97,500,000
= 20.51 Time Per Year
Average Accounts Receivables = 20.51 Times per Year
If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year...
If the question asks me "Compute the accounts receivable turnover for 2011 and 2010 (use year end gross receivable)" does this mean to use the average of the begining and end of the year or just the end for gross receivables also what formula should I use ? thanks
box answers Lailulelor Accounts receivable turnover and days' sales in receivables Financial statement data for years...
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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...
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Accounts Receivable Turnover Using the following data, calculate this company's accounts receivable turnover. Round your answers...
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Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover...
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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...
Accounts Receivable Turnover Using the following data, calculate this company's accounts receivable turnover. Round your answers to two decimal places. Accounts receivable balance, December 31 $54,000 Inventory balance, December 31 59,000 Sales revenue 520,000 Cost of goods sold 310,000 Accounts receivable balance, January 1 46,000
Accounts Receivable Turnover for Rise-n-shine Company The 2015 annual report of Rise-n-shine Company (the maker of Brandees and Munchems) reported the following amounts (in millions of dollars): $14,670 Revenues, for the year ended May 31, 2015 Accounts receivable, net, May 31, 2015 Accounts receivable, net, May 31, 2014 953 1,082 Requiredi 1. Compute Rise-n-shine Company's accounts receivable turnover ratio for the year ended May 31, 2015. Assume that all sales are on credit. Round your answer to two decimal places...
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 38,900 $ 33,650 104,000 67,000 92,500 86,500 128,000 132,000 13,500 11,100 395,000 345,000 106,400 114,800 718,000 683,000 397,000 382,000 Multiple Choice 8.02 7.76 6.90 O 5.61 8.30 < Prey 29 of 36 !!! Next > search...
Refer to the following selected financial information from Texas Electronics Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold Year 2 Year 1 $ 39,200 $ 33,950 107,000 68,500 94,000 88,000 129,500 133,500 13,800 11,400 396,500 346,500 104,900 116,300 719,500 684,500 398,509 383,500
Refer to the following selected financial information from McCormik, LLC. Compute the company's accounts receivable turnover for Year 2. Year 2 Year 1 Cash $ 39,800 $ 33,750 Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Accounts payable Net sales Cost of goods sold 105,000 67,500 93,000 87,000 128,500 132,500 13,600 11,200 395,500 345,500 105,900 115,300 718,500 683,500 397,500 382,500 10 0 0 0 On December 31 of the current year, the unadjusted trial balance of a...
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