Need help A company reports the following:Sales$183,960Average accounts receivable (net) 26,280Determine (a) the accounts receivable turnover and (b) the number ofdays' sales in receivables.

Step 1: Define Accounts Receivable TurnoverThe accounts receivable turnover shows the number of…

Answered: A company reports the following: Sales…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4BE

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Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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FINANCIAL RATIOS Based on the financial statements, shown on pages 605606, for McDonald Carpeting Co. (income statement, statement of owners equity, and balance sheet), prepare the following financial ratios. All sales are credit sales. The balance of Accounts Receivable on January 1, 20--, was 6,800. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and the average number of days required to collect receivables 6. Inventory turnover and the average number of days required to sell inventory
FINANCIAL RATIOS Based on the financial statements, shown on pages 603604, for McDonald Carpeting Co. (income statement, statement of owners equity, and balance sheet), prepare the following financial ratios. All sales are credit sales. The balance of Accounts Receivable on January 1, 20--, was 6,800. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and average number of days required to collect receivables 6. Inventory turnover and average number of days required to sell inventory
FINANCIAL RATIOS Based on the financial statements for Jackson Enterprises (income statement, statement of owners equity, and balance sheet) shown on pages 596597, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was 21,600. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and average number of days required to collect receivables 6. Inventory turnover and average number of days required to sell inventory
A company reports the following: please need answer the accounting question
A company reports the following:Sales $1,500,000Average accounts receivable (net) 100,000Determine (a) the accounts receivable turnover and (b) the number of days’ sales in receivables. Round to one decimal place.
A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts receivable turnover? a. 0.08 c. 1,341.00 e. 111.78 b. 30.41 d. 12.00

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A company reports the following: Sales $183,960 Average accounts receivable (net) 26,280 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables.