BEAN SUPERSTOREComparative Balance sheetDecember 31, 2017, 2018, and 2019LEGUMES PLUSComparative Halance sheetDecember 31, 2017, 2018, and 2019201920182017201920182017AssetsCashAccounts ReceivableInventoryEquipmentTotal Assets$345,60067,000145,830100,465$330,46062,000178,011101,202S671,673$300,00059,000155,205103,085$617,290$407,00085,430128,080182,006$386,45082,67040,03623,400$356,36779,23052,142111,701$658,8955802,516$532,556$599,440LlabilitlesSalaries PayableAccounts PayableNotes Payable$ 90,20070,00041,000$ 88,56371,67050,650$ 84,20969,33158,250$ 95,10062.43063,222$ 91,45586.33167,880$ 89,46787,19768,312EquityCommon StockRetained EarningsTotal Liabilities and Equity$ 22,695435,000S658,8955 20.990439,800S671,673$19,100386,4005617,290$ 25,464556,300$22,090264,800$ 22,188332,276$802,516$532,556$599,440BEAN SUPERSTOREComparative Income StatementYear Ended December 31,2017, 2018, and 2019LEGUMES PLUSComparative Income StatementYear Ended December 31, 2017, 2018, and 2019201920182017201920182017$967.478465.780501,698169.422332 276s1.256.300500,000$1,020.570Net Credit SalesCost of Good SoldGross MarginExpensesNet Income (Loss)$1.000.000450.000580.320550.000115.000435.000419.600564.800125.000756.300200,000556.300440.250175 450100.000264.800 10. Review the select information for Bean Superstore and Legumes Plus (industrycompetitors), and then complete the following.A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019.B Compute the number of days sales in receivables ratios for each company for 2018 and2019C. Determine which company is the better investment and why. Round answers to twodecimal places.

Accounts Receivable Turnover Ratio: Accounts Receivable Turnover Ratio measures how many times a…

10. Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days sales in receivables ratios for each company for 2018 and 2019.

10. Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. A. Compute the accounts receivable turnover ratios for each company for 2018 and 2019. B. Compute the number of days sales in receivables ratios for each company for 2018 and 2019.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 7PA: Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then...

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