Financial statement data for years ending December 31 for Robinhood Company follow: 20Υ9 20Υ8 Sales $7,906,000 $6,726,000 Accounts receivable: Beginning of year End of year 600,000 540,000 580,000 600,000 (Continued) a. Determine the accounts receivable turnover for 20Y9 and 20Y8. b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round to one decimal place. c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 20Y9 indicate a favorable or unfavorable change?
Financial statement data for years ending December 31 for Robinhood Company follow: 20Υ9 20Υ8 Sales $7,906,000 $6,726,000 Accounts receivable: Beginning of year End of year 600,000 540,000 580,000 600,000 (Continued) a. Determine the accounts receivable turnover for 20Y9 and 20Y8. b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round to one decimal place. c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 20Y9 indicate a favorable or unfavorable change?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question

Transcribed Image Text:Financial statement data for years ending December 31 for Robinhood Company follow:
20Υ9
20Υ8
Sales
$7,906,000
$6,726,000
Accounts receivable:
Beginning of year
End of year
600,000
540,000
580,000
600,000
(Continued)

Transcribed Image Text:a. Determine the accounts receivable turnover for 20Y9 and 20Y8.
b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round
to one decimal place.
c. Does the change in accounts receivable turnover and the days' sales in receivables
from 20Y8 to 20Y9 indicate a favorable or unfavorable change?
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