At the end of the first year, the Treadwell Tire Company had net accounts receivable of $66,700 and at the end of the second year the company had net accounts receivable of $73,000. If the company's net sales revenue during the second year was $888,875, the receivable turnover ratio for the second year was: A. 12.18 B. 0.0786 C. 12.73 D. 0.0071

At the end of the first year, the Treadwell Tire Company had net accounts receivable of $66,700 and at the end of the second year the company had net accounts receivable of $73,000. If the company's net sales revenue during the second year was $888,875, the receivable turnover ratio for the second year was: A. 12.18 B. 0.0786 C. 12.73 D. 0.0071

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Similar questions

The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.
Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.
The financial statements of the Sheffield Corp. reports net sales of $690150 and accounts receivable of $98000 and $31000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Sheffield Corp.? O 22.3 times O 5.4 times O 7.0 times O 10.7 times
Give correct turnover ratio
The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of $80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the receivables turnover ratio for Bolero? O 15.0 times O7.5 times 22.5 times O 11.25 times
The financial statements of the Splish Brothers Inc. reports net sales of $325500 and accounts receivable of $66000 and $39000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Splish Brothers Inc.? 8.3 times 3.1 times 6.2 times 4.9 times
Can you please solve these general accounting question?
The financial statement of Minnesota Mining and Manufacturing Company ( 3M ), report net sales of $20.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.8 billion at the end of the year. Compute 3M's account receivable turnover. Compute 3M's average collection period for accounts receivable in days.
For its most recent year, a certain company had sales (all on credit) of $830,000 and cost of goods sold of $525,000. At the beginning of the year, its accounts receivable were $80,000 and its inventory was $100,000. At the end of the year, its accounts receivable were $86,000 and its inventory was $110,000. What is the accounts receivable turnover ratio for the year? a. 6.3 b. 7.5 c. 10.0
A company has net sales on account of $1,750,000. Net accounts receivable at the beginning of the year are $147,000 and net accounts receivable at the end of the year are $153,000. The accounts receivable turnover is a.1.0. b.11.4. c.11.7. d.11.9.
A company had net sales of $29, 800and accounts receivable of S4, 400for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28A company had net sales of $29,800and accounts receivable of $4,400 for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28