Eddy Enterprises had net credit sales during the year of $950,000 and cost of goods sold of $600,000. The beginning balance in receivables was $120,000, and the ending balance in receivables was $180,000. What was the receivables turnover ratio?

Eddy Enterprises had net credit sales during the year of $950,000 and cost of goods sold of $600,000. The beginning balance in receivables was $120,000, and the ending balance in receivables was $180,000. What was the receivables turnover ratio?

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....

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Question

What was the receivables turnover ratio of this general accounting question?

Eddy Enterprises had net credit sales during the year of $950,000 and cost of
goods sold of $600,000. The beginning balance in receivables was $120,000, and
the ending balance in receivables was $180,000.
What was the receivables turnover ratio?

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