Pine Hardware Store had the following data: Credit Sales $4,225,000 Cost of Goods Sold $3,000,000 Accounts Receivables Beg. Balance $600,000 Accounts Receivables Ending Balance $700,000 The receivables turnover ratio was: a. 8.6 times b. 6.5 times c. 4.6 times d. 5 times

Pine Hardware Store had the following data: Credit Sales $4,225,000 Cost of Goods Sold $3,000,000 Accounts Receivables Beg. Balance $600,000 Accounts Receivables Ending Balance $700,000 The receivables turnover ratio was: a. 8.6 times b. 6.5 times c. 4.6 times d. 5 times

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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Question

100%

The receivables turnover ratio?

Pine Hardware Store had the following data:
Credit Sales
$4,225,000
Cost of Goods Sold
$3,000,000
Accounts Receivables Beg. Balance
$600,000
Accounts Receivables Ending Balance $700,000
The receivables turnover ratio was:
a. 8.6 times
b. 6.5 times
c. 4.6 times
d. 5 times

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