Excerpts from BBB Leasing's December 31, 20x2 and 20x1, financial statements are presented below: Accounts receivable Merchandise inventory Net sales Cost of goods sold Total assets Total shareholders' equity Net income Multiple Choice What is BBB's receivables turnover for 20x2? (Round your answer to 2 decimal places.) 3.37. 2.23. 4.00. 20x2 $ 60,000 38,000 212,000 200,000 134,000 118,000 445,000 415,000 260,000 235,000 47,500 38,000 20x1 $ 46,000 55,000 7.42.

Excerpts from BBB Leasing's December 31, 20x2 and 20x1, financial statements are presented below: Accounts receivable Merchandise inventory Net sales Cost of goods sold Total assets Total shareholders' equity Net income Multiple Choice What is BBB's receivables turnover for 20x2? (Round your answer to 2 decimal places.) 3.37. 2.23. 4.00. 20x2 $ 60,000 38,000 212,000 200,000 134,000 118,000 445,000 415,000 260,000 235,000 47,500 38,000 20x1 $ 46,000 55,000 7.42.

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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OkyOTcw/a/MjUwNDEyNDM20TEx/details Particulars Credit (RM) 48,400 Debit (RM) Capital Drawings Trade receivables Trade payables Sales Purchases Sales returns Purchases retums Wages and salaries Discounts allowed Discounts received Provision for doubtful debts Insurance Inventory as at 1 September 2018 Utilities 3,500 9,000 12,500 40,400 31,000 300 250 5,600 120 200 300 700 2,400 950 350 10,000 3,000 20,000 Rates Premises Fixtures and fittings Motor van Cash in hand Cash at bank TOTAL 330 14,800 102.050 102.050 Additional information as at 31 August 2019: i. Inventory as at 31 August 2019 amounted RM3,300 ii. An entity from whom there is accounts receivables of RM200 was unable to settle his debt and this amount is to be written off as bad debts. iii. The provision for doubtful debts is 1% of the outstanding trade receivables. iv. The owner took RM100 worth of goods from the business for his own use Required: a) Statement of Profit or Loss and Others Comprehensive Income for the year…
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