Emery, Inc. had Accounts Receivable of $85,000 and 40 Days Sales in Receivables. If Cost of...
Emery, Inc. had Accounts Receivable of $85,000 and 40 Days Sales in Receivables. If Cost of Goods Sold run 35% of sales and Inventory turnover is 15, what is Emery’s Inventory?
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Emery, Inc. had Accounts Receivable of $85,000 and 40 Days Sales
in Receivables. If Cost of...
2.2 Jamie, Inc. has a current accounts receivable balance of $381,065. Sales for the year just...
2.2 Jamie, Inc. has a current accounts receivable balance of $381,065. Sales for the year just ended were $2,315,016. In addition, ending inventory was $821,986 and cost of goods sold for the year just ended was $1,843,127. a. (2 points) What is the receivables turnover? b. (2 points) What is the days' sales in receivables? c. (1 point) How long did it take on average for customers to pay off their accounts during the past year? d. (2 points) What...
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...
Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December...
Accounts Receivable Turnover and Number of Days' Sales in Receivables Financial statement data for years ending December 31 for Blum Company are shown below. 2016 2015 Sales $5,794,740 $5,432,660 Accounts receivable: Beginning of year 423,110 474,240 End of year 496,690 416,360 a. Determine the accounts receivable turnover for 2016 and 2015. Round your answers to one decimal place. Accounts Receivable Turnover 2016 2015 b. Determine the number of days' sales in receivables for 2016 and 2015. Use 365 days in...
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...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD Amazon.com is one of the largest Internet retailers in the world. Best Buy, Inc. is a leading retailer of consumer electronics and media products in the United States. Amazon and Best Buy compete in similar markets: however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Sales and accounts receivable information for both companies for...
Continuing Company Analysis—Amazon: Accounts receivable turnover and number of days' sales in receivables Amazon.com is one...
Continuing Company Analysis—Amazon: Accounts receivable turnover
and number of days' sales in receivables
Amazon.com is one of the largest Internet
retailers in the world. Best Buy, Inc. is a
leading retailer of consumer electronics and media products in the
United States. Amazon and Best Buy compete in similar markets;
however, Best Buy sells through both traditional retail stores and
the Internet, while Amazon sells only through the Internet. Sales
and accounts receivable information for both companies for a recent
period...
Accounts Receivable Turnover and Days' Sales in Receivables Classic Company designs, markets, and distributes a variety...
Accounts Receivable Turnover and Days' Sales in Receivables Classic Company designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The company’s products include such brands as Polo by Classic, Classic Purple Label, Classic, Polo Jeans Co., and Chaps. Polo Classic reported the following for two recent years: For the Period Ending Year 2 Year 1 Sales $3,708,400 $3,740,520 Accounts receivable 456,250 470,850 Assume that accounts receivable were $419,750 at the beginning of Year 1. a....
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
(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 decimal place. Assume a 365-day year.
Accounts Receivable Analysis A company reports the following:Net sales $1,272,390Average accounts receivable (net) 60,590Determine (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 decimal place. Assume a 365-day year.a. Accounts receivable turnoverb. Number of days' sales in receivables days
JPJ Corp has sales of $1.31 million, accounts receivable of $52,000, total assets of $4.96 million...
JPJ Corp has sales of $1.31 million, accounts receivable of $52,000, total assets of $4.96 million (of which $2.99 million are fixed assets), inventory of $148,000, and cost of goods sold of $597,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory tunover? What is JPJ's accounts receivable days? J P's accounts receivable days are days (Round to two decimal places .)
2.2 Jamie, Inc. has a current accounts receivable balance of $381,065. Sales for the year just ended were $2,315,016. In addition, ending inventory was $821,986 and cost of goods sold for the year just ended was $1,843,127. a. (2 points) What is the receivables turnover? b. (2 points) What is the days' sales in receivables? c. (1 point) How long did it take on average for customers to pay off their accounts during the past year? d. (2 points) What...
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answers
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...
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...
Continuing Company Analysis- Amazon: Accounts receivable turnover and number of days' sales in receivables REAL WORLD Amazon.com is one of the largest Internet retailers in the world. Best Buy, Inc. is a leading retailer of consumer electronics and media products in the United States. Amazon and Best Buy compete in similar markets: however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet. Sales and accounts receivable information for both companies for...
Continuing Company Analysis—Amazon: Accounts receivable turnover
and number of days' sales in receivables
Amazon.com is one of the largest Internet
retailers in the world. Best Buy, Inc. is a
leading retailer of consumer electronics and media products in the
United States. Amazon and Best Buy compete in similar markets;
however, Best Buy sells through both traditional retail stores and
the Internet, while Amazon sells only through the Internet. Sales
and accounts receivable information for both companies for a recent
period...
At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to $2,277,000. The cost of the inventory sold was $1,935,450. 2. Sales returns and allowances with a total sales price of $37,000 and a cost of $31,450 were restored to...
JPJ Corp has sales of $1.31 million, accounts receivable of $52,000, total assets of $4.96 million (of which $2.99 million are fixed assets), inventory of $148,000, and cost of goods sold of $597,000. What is JPJ's accounts receivable days? Fixed asset turnover? Total asset turnover? Inventory tunover? What is JPJ's accounts receivable days? J P's accounts receivable days are days (Round to two decimal places .)
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