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10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.

10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days.

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Pls answers number 10 to 13 with solutions
10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days. PE. 3 Financial Management d. 37 days. 11. Pint Hardware Store had net credit sales of P6,500,000 and cost of goods sold of P5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The receivables turnover was a. 7.7 times. b. 10.8 times. c. 9.3 times. d. 10 times. 12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000 for the year. The average inventory for the year amounted to P2,000,000. 12. Inventory turnover for the year is a. 8 times. b. 14 times. c. 6 times. d. 4 times. 13. The average days in inventory during the year was a. 91 days. b. 61 days. c. 46 days. d. 26 days. BAY
Transcribed Image Text:10. Wint Clothing Store had a balance in the Accounts Receivable account of P390,000 at the beginning of the year and a balance of P410,000 at the end of the year. Net credit sales during the year amounted to P4,000,000. The average collection period of the receivables in terms of days was a. 30 days. b. 365 days. c. 73 days. PE. 3 Financial Management d. 37 days. 11. Pint Hardware Store had net credit sales of P6,500,000 and cost of goods sold of P5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The receivables turnover was a. 7.7 times. b. 10.8 times. c. 9.3 times. d. 10 times. 12 – 13. Wins Department Store had net credit sales of P16,000,000 and cost of goods sold of P12,000,000 for the year. The average inventory for the year amounted to P2,000,000. 12. Inventory turnover for the year is a. 8 times. b. 14 times. c. 6 times. d. 4 times. 13. The average days in inventory during the year was a. 91 days. b. 61 days. c. 46 days. d. 26 days. BAY
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