Answer? ? Financial accounting question Green Valley Electronics Financial DataFinancial MetricAmountNet Accounts Receivable (Dec 31, 2016) $512,400Net Accounts Receivable (Dec 31, 2017) $576,800Net Credit Sales for 2016Net Credit Sales for 2017$4,620,000$5,040,000Required: Calculate the Receivables Turnover Ratio for 2017

Step 1: Define Receivables Turnover RatioThe Receivables Turnover Ratio measures how efficiently a…

Answered: Green Valley Electronics Financial Data…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales for the year are $769,346. The balance at the end of 2017 was $325,300. What is the accounts receivable turnover rate for 2018 (rounded to two decimal places)? A. 2.02 times B. 2.25 times C. 2.15 times D. 1.13 times
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Suppose the 2017 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.54 billion at the end of the year. Compute 3M Company's receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) times Accounts receivable turnover ratio SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period days
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Check Sales Cost of goods sold Accounts receivable 2021 2020 $ 459,829 223,168 22,256 $ 298,590 145,023 17,497 2019 $ 244,746 120,478 16,692 2018 $ 168,210 81,991 9,840 2017 $ 124,600 59,808 8,548 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Numerator: Trend Percent for Net Sales: Denominator: Is the trend percent for Net Sales favorable or unfavorable? 21: 20: 19: Trend Percent for Cost of Goods Sold: Numerator: Denominator: < Prev 1 of 1 Next Trend percent % 11 11 % % = % % = Trend percent = % = % = % Ո
Sales Cost of goods sold Accounts receivable 2021 $ 676,574 333,971 32,679 2020 $ 439,334 216,824 25,657 2019 $ 340,569 170,229 23,363 2018 $ 237,330 117,892 13,860 2017 $ 175,800 86,142 12,060 Compute trend percents for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percents appears to be favorable or unfavorable. 2021: 2020: 2019: 2018: 2017: Trend Percent for Net Sales: Numerator: Denominator: = Trend percent = % Is the trend percent for Net Sales favorable or unfavorable? 2021: 2020: 2019: 2018: 2017: Trend Percent for Cost of Goods Sold: Numerator: Denominator: Trend percent Is the trend percent for Cost of Goods Sold favorable or unfavorable? %
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Green Valley Electronics Financial Data Financial Metric Amount Net Accounts Receivable (Dec 31, 2016) $512,400 Net Accounts Receivable (Dec 31, 2017) $576,800 Net Credit Sales for 2016 Net Credit Sales for 2017 $4,620,000 $5,040,000 Required: Calculate the Receivables Turnover Ratio for 2017