Based on the following data, what is the accounts receivable turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year Oa. 11.7 Ob. 5.4 Oc. 2.7 Od. 11.9 $590,953 217,271 49,800 50,913 88,221 108,726

Based on the following data, what is the accounts receivable turnover? Sales on account during year Cost of goods sold during year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year Oa. 11.7 Ob. 5.4 Oc. 2.7 Od. 11.9 $590,953 217,271 49,800 50,913 88,221 108,726

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Based on the following data for the current year, what is the inventory turnover? Sales on account during year $545,223 Cost of goods sold during year 151,374 Accounts receivable, beginning of year 47,010 Accounts receivable, end of year 47,369 Inventory, beginning of year 39,811 Inventory, end of year 39,291 Do not round interim calculations. Round your final answer to one decimal place.
Accounts Receivable Turnover and Average Collection Period The Forrester Corporation disclosed the following financial information (in millions) in its recent annual report: Net sales Beginning accounts receivable (net) Ending accounts receivable (net) Year 1 Year 2 $169,918 $195,409 17,240 16,740 16,740 16,495 a. Calculate the accounts receivable turnover ratio for both years. b. Calculate the average collection period for both years. Notes: 1. Round all answers to one decimal place. 2. Use rounded answer from part a. to compute the average collection period. a. Accounts receivable turnover b. Average collection period (days) Year 1 Year 2 c. Is the company's accounts receivable management improving or deteriorating?
Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Υ1 Accounts receivable, end of year $113,600 $120,000 $128,200 Sales on account 829,280 781,830 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. 20Υ3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days
Calculator Based on the following data for the current year, what is the inventory turnov Sales on account during year $463,344 Cost of merdhandise sold during year 155,318 Accounts receivable, beginning of year 41,563 Accounts recelvable, end of year 52,925 Merchandise inventory, beginning of year 33,500 Merchandise inventory, end of year 41,246 Оа. 16.6 ОБ. 3.2 Oc. 12.4 Od. 4.2
A company reports the following: Sales $859,940 Average accounts receivable (net) 45,260 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
The following data are taken from the financial statements of Coronado Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $465,000. (Round answers to 1 decimal place, e.g. 1.6.) Accounts receivable turnover eTextbook and Media Save for Later (a2) 2022 2021 $525,000 $500,000 4,100,000 3,184,500 Average collection period 2022 times 2022 days 2021 2021 times Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $465,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Assistance Used Attempts: unlimited days Submit Answer
Sheridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000. The balance in accounts receivable at the beginning of the year was $110400 and at the end of the year was $143600. What was the accounts receivable turnover
1. Inventory turnover is calculated as __________ divided by __________. cost of goods sold; inventory cost of goods sold; average inventory cost of goods sold; total assets average inventory; cost of goods sold 2. The number of days’ sales in inventory is calculated as __________ divided by __________. average inventory; average daily cost of goods sold ending inventory; cost of goods sold net income; sales cost of goods sold; average inventory
a. Compute the current ratio for the current year. (Abbreviations used: STI = Short-term investments. Round your answer to two decimal places, X.XX.) Current ratio More Info a. Current ratio b. Cash ratio c. Acid-test ratio d. Inventory turnover e. Days' sales in inventory f. Days' sales in receivables g. Gross profit percentage Print Done Choose from any list or enter any number in the input fields a Financial Statements Balance Sheet: Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Prepaid Expenses Total Current Assets Total Current Liabilities Income Statement: Net Credit Sales Cost of Goods Sold $ Current Year Preceding Year 15,000 $ 11,000 56,000 64,000 13,000 159,000 132,000 465,000 317,000 29,000 27,000 94,000 82,000 7,000 239,000 89,000
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
Based on the following data for the current year, what is the inventory turnover (rounded to one decimal place)? Sales on account during year $469,274 Cost of merchandise sold during year 179,305 Accounts receivable, beginning of year 42,159 Accounts receivable, end of year 52,598 Merchandise inventory, beginning of year 32,886 Merchandise inventory, end of year 40,548 Oa. 17.7 Ob. 12.8 Oc. 3.9 Od. 4.9
Dividing annual Sales by Turnover will give: a.Stock-to-Sales Ratio b. Average Monthly Sales. c.AverageSstock d.Basic Īnventory. e.markup%