Accounting compute the accounts receivable turnover Kinder Company has these comparative balance sheet data:Kinder CompanyBalance SheetsDecember 31Cash20142013$32,355 $64,710Accounts receivable (net) $150,990 $129,420Inventory$129,420 $107,850Plant assets (net)$431,400 $388,260$744,165 $690,240Accounts payable$107,850 $129,420|Mortgage payable (15% ) $ 215,700 $215,700Common stock, $10 par $301,980 $258,840Retained earnings$118,635 $86,280$744,165 $690,240Additional information for 2014:1. Net income was $34,300.2. Sales on account were $391,200. Sales returns and allowances amounted to$29,900.3. Cost of goods sold was $223,800.4. Net cash provided by operating activities was $59,000.5. Capital expenditures were $27,800, and cash dividends were $21,800.Compute the accounts receivable turnover on December 31, 2014.

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Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.10P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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