Homework Answers
a. Accounts recievable turnover = Net sales
Average accounts recievable = $649700 /$64970 =10%
b. Number of days sales in receivable =$ 64970/$649700 X 365 =36.5 DAYS or 37 days (rounded off)
Add Answer to:
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 $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
(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
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...
Inventory Analysis A company reports the following: Cost of goods sold $379,600 Average inventory 94,900 Determine...
Inventory Analysis A company reports the following: Cost of goods sold $379,600 Average inventory 94,900 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year.
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...
Please answer All questions. 1.) The following items are reported on a company's balance sheet: Cash...
Please answer All questions. 1.) The following items are reported on a company's balance sheet: Cash $607,200 Marketable securities 474,400 Accounts receivable (net) 585,900 Inventory 230,000 Accounts payable 575,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio 2.) A company reports the following: Sales $436,540 Average accounts receivable (net) 18,980 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim...
A company reports the following: Cost of goods sold $630,000 Average inventory 90,000 Determine (a) the...
A company reports the following: Cost of goods sold $630,000 Average inventory 90,000 Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. a. Inventory turnover b. Number of days' sales in inventory 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...
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...
Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc....
Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55. 2014 2016 $212,000 1,335,900 1,284,800 2015 Accounts receivable, end of year Net sales on account a. For 2015 and 2016, determine (1) the accounts recelvable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. $226,000 $241,200 2016 2015 1. Accounts receivable turnover 2. Number of days'...
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
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...
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...
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...
Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55. 2014 2016 $212,000 1,335,900 1,284,800 2015 Accounts receivable, end of year Net sales on account a. For 2015 and 2016, determine (1) the accounts recelvable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. $226,000 $241,200 2016 2015 1. Accounts receivable turnover 2. Number of days'...
Most questions answered within 3 hours.
-
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 29 minutes ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 40 minutes ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 1 hour ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 1 hour ago -
39.4% of US homes continue to use a landline in addition to cell
phone service. 3...
asked 2 hours ago -
Starting with benzene, synthesize 1-phenyl-1-butyne.
Show intermediates and reagents.
asked 3 hours ago -
Create a 32-run crossed array design with six control factors
and two noise factors such that...
asked 4 hours ago -
A 500g sample of sand from source A has the following amounts
retained on each sieve....
asked 4 hours ago -
In
your own words, please explain the essay by John Keynes wrote "The
End of Laissez...
asked 4 hours ago -
How are the matrix and pixels related? Why are smaller
pixels better for diagnostic quality?
asked 4 hours ago -
2. An AC generator has 80 rectangular loops on
its armature. Each loop is 11 cm...
asked 4 hours ago -
Please help me with this question. Consider Aldi’s current and
potential geographic markets (see Exhibit 4...
asked 4 hours ago