Marshall Electronics had net accounts receivable of $45,000 at the beginning of the year and $51,000 at year- end. If the company's net sales revenue for the year was $576,000, calculate the receivables turnover ratio. a) 10.50 b) 12.00 c) 11.25 d) 11.98
Marshall Electronics had net accounts receivable of $45,000 at the beginning of the year and $51,000 at year- end. If the company's net sales revenue for the year was $576,000, calculate the receivables turnover ratio. a) 10.50 b) 12.00 c) 11.25 d) 11.98
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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Transcribed Image Text:Marshall Electronics had net accounts receivable of
$45,000 at the beginning of the year and $51,000 at year-
end. If the company's net sales revenue for the year was
$576,000, calculate the receivables turnover ratio.
a) 10.50
b) 12.00
c) 11.25
d) 11.98
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