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A retail company has $45,200 in receivables and $180,000 in total assets. The total asset turnover rate is 1.5, and the profit margin is 6 percent. What are the days' sales in receivables? a) 38.45 days b) 29.80 days c) 60.75 days d) 50.20 days

A retail company has $45,200 in receivables and $180,000 in total assets. The total asset turnover rate is 1.5, and the profit margin is 6 percent. What are the days' sales in receivables? a) 38.45 days b) 29.80 days c) 60.75 days d) 50.20 days

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 8CDQ
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A retail company has $45,200 in receivables and $180,000 in total assets. The total asset turnover rate is 1.5, and the profit margin is 6 percent. What are the days' sales in receivables? a) 38.45 days b) 29.80 days c) 60.75 days d) 50.20 days
Transcribed Image Text:A retail company has $45,200 in receivables and $180,000 in total assets. The total asset turnover rate is 1.5, and the profit margin is 6 percent. What are the days' sales in receivables? a) 38.45 days b) 29.80 days c) 60.75 days d) 50.20 days
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