Comparative figures for Apple and Google follow. Apple $ millions Accounts receivable, net Net sales Current Year $ 22,926 260,174 One Year Prior $ 23,186 265,595 Two Years Prior $ 17,874 229,234 Current Year $ 25,326 161,857 Required: Google One Year Prior $ 20,838 136,819 Two Years Prior $ 18,336 110,855 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. Note: Round your answers to 1 decimal place. Accounts Receivable Turnover Current Year Prior Year a. Apple b. Google times times times times

Comparative figures for Apple and Google follow. Apple $ millions Accounts receivable, net Net sales Current Year $ 22,926 260,174 One Year Prior $ 23,186 265,595 Two Years Prior $ 17,874 229,234 Current Year $ 25,326 161,857 Required: Google One Year Prior $ 20,838 136,819 Two Years Prior $ 18,336 110,855 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. Note: Round your answers to 1 decimal place. Accounts Receivable Turnover Current Year Prior Year a. Apple b. Google times times times times

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following data was generated as of December 31Accounts receivable, Jan 1 550,000.00Accounts receivable collected 875,000.00Cash Sales 350,000.00Inventory, January 1 450,000.00Inventory, December 31 275,000.00Purchases 950,000.00Gross Margin on Sales 375,000.00 a.) How much is the total sales?b.) How much is the cost of sales?c.) How much is the ending Receivable as of Dec 31?d.) How is the credit sales?
3
a
The following information is from the annual financial statements of Raheem Company, Year 2 Year 3 $ 270,000 20,900 $ 201,000 16,700 Net sales Accounts receivable, net (year-end) (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 20.5, is Raheem performing better or worse at collecting receivables than its competitor? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its accounts receivable turnover for Year 2 and Year 3. Year 2: Year 3:1 Choose Numerator: 7 1 1 Accounts Receivable Turnover Choose Denominator: (Required 1 Year 1 $ 248,000 15,400 W Accounts Receivable Turnover Accounts receivable turnover = Required 2 > times times
Accounts receivable analysis. The following data are taken from the financial statement of sigmon Inc. Terms of all sales are 2/ 10, n / 45. Accounts receivable the end of the year $725,000 20y3 $ 650,000 20y2 $600,000 20y 1 Sales on account 5,637,500 20y 3 4,687,500 20y 2 A. 20y 2 and 20 y3, determine (1) the accounts receivable turnover and (2) the number of days sales in receivable. Round interim calculations to the nearest dollar final answer to one decimal place assume a 365-day year. 1. Accounts receivable turnover 20y3 2. Number of days sales in receivable 20y2 B. The collection of accounts receivable has_______ this can be seen in both the_______ in accounts receivable turnover and the_______ in the collection period.
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total of 500,000 shares of common stock were outstanding. The interest rate on the bonds, which were sold at their face value, was 10%. The income tax rate was 40% and the dividend per share of common stock was $0.40 this year. The market value of the company's common stock at the end of the year was $30. All of the company's sales are on account. Weller Corporation Comparative Balance Sheet (dollars in thousands) This Year Last Year Assets Current assets: Cash Accounts receivable, net Inventory Prepaid expenses $ 1,090 9,200 12,500 740 $ 1,320 7,500 11,800 540 Total current assets 23,530 21,160 Property and equipment: Land 9,200 44,083 9,200 39,201 Buildings and equipment, net Total property and equipment 53,283 48,401 Total assets $76,813 $69,561 Liabilities and Stockholders' Equity Current…
Based on the account balances shown below, calculate "Net Sales". Normal Account Balance Account Name Allowance for Uncollectible $5,000 A/R Deferred Revenue $15,725 Sales Revenue $114,139 Sales Discounts $2,000 Sales Returns $6,000 Fill in the blank with your calculated number. DO NOT include period, decimal points, etc., just enter the raw number. Webcourses will add commas to your nmas, $ sig answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f3 f4 f5 f6 f7 f8 f9 f10 f11 口/東 %24 3 5 7 9. 01 因 LO 图

Subject: acounting
us Kimmel, tinancial Accounting, Be US eo 1 Srstom Announcements CALCATO Brief Exercise 8-10 Piet ts first vear of operations, Pronghorn Corp had credit sales of $2,714,100, of which $429,000 remained uncollected at year-end. The credit manager estimates that $16,370 of these recevahles w be Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented whee ment c indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pronghorn Corp, assuming that in addition to the receivables it has cash of $85,320, merchandise inventory of $163,960, and supplies of $13,290. (List current a arder of liquidity) Pronghorn Corp Balance Sheet (partial) wT O secouNTS
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Please do not give solution in image format thanku