Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2018 and 2019 (round answers to two decimal places): 2018 Accounts Receivable Turnover _______ times. A. 2.85 B. 2.91 C. 1.42 D. 2.79 2018 Days' Sales in Receivables ________days. A. 128.07 B. 125.43 C. 257.04 D. 130.82 2019 Accounts Receivable Turnover _________times. A. 2.97 B. 2.77 C. 1.38 D. 2.59 2019 Days' Sales in Receivables _______days. A. 131.77 B. 122.90 C. 140.93 D. 264.49 What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days’ sales in receivables ratio is 150 days? It takes Candid Photography _______________ competitors in the industry to collect on accounts receivable. A. about the same time as B. more time than C. less time than If a lender were deciding between companies, Candid Photography is ___________in comparison to like businesses. A. about the same B. less favorable C. more favorable in comparison to like businesses, given this A. slight disadvantages B. slight advantage C. similar result Past data also suggests that the time to collect is ________from 2018 to 2019. A. Increasing B. about the same C. decreasing which is something that might __________a lender or investor if this trend were to continue. A. Discourage B. not be a factor to

Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2018 and 2019 (round answers to two decimal places): 2018 Accounts Receivable Turnover ___ times. A. 2.85 B. 2.91 C. 1.42 D. 2.79 2018 Days' Sales in Receivables days. A. 128.07 B. 125.43 C. 257.04 D. 130.82 2019 Accounts Receivable Turnover _times. A. 2.97 B. 2.77 C. 1.38 D. 2.59 2019 Days' Sales in Receivables _days. A. 131.77 B. 122.90 C. 140.93 D. 264.49 What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days’ sales in receivables ratio is 150 days? It takes Candid Photography _______ competitors in the industry to collect on accounts receivable. A. about the same time as B. more time than C. less time than If a lender were deciding between companies, Candid Photography is _in comparison to like businesses. A. about the same B. less favorable C. more favorable in comparison to like businesses, given this A. slight disadvantages B. slight advantage C. similar result Past data also suggests that the time to collect is from 2018 to 2019. A. Increasing B. about the same C. decreasing which is something that might ______a lender or investor if this trend were to continue. A. Discourage B. not be a factor to

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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Question

The following is select financial statement information from Candid Photography:

Year	Net Credit Sales	Ending Accounts Receivable
2017	$2,988,000	$1,290,450
2018	$3,750,860	$1,345,600
2019	$4,000,350	$1,546,550

Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2018 and 2019 (round answers to two decimal places):

2018 Accounts Receivable Turnover _______ times.

A. 2.85

B. 2.91

C. 1.42

D. 2.79

2018 Days' Sales in Receivables ________days.

A. 128.07

B. 125.43

C. 257.04

D. 130.82

2019 Accounts Receivable Turnover _________times.

A. 2.97

B. 2.77

C. 1.38

D. 2.59

2019 Days' Sales in Receivables _______days.

A. 131.77

B. 122.90

C. 140.93

D. 264.49

What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3 times and days’ sales in receivables ratio is 150 days?
It takes Candid Photography _______________ competitors in the industry to collect on accounts receivable.

A. about the same time as

B. more time than

C. less time than

If a lender were deciding between companies, Candid Photography is ___________in comparison to like businesses.

A. about the same

B. less favorable

C. more favorable

in comparison to like businesses, given this

A. slight disadvantages

B. slight advantage

C. similar result

Past data also suggests that the time to collect is ________from 2018 to 2019.

A. Increasing

B. about the same

C. decreasing

which is something that might __________a lender or investor if this trend were to continue.

A. Discourage

B. not be a factor to

C. encourage

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