Road Runner Express reported the following rounded amounts (in millions); 2018 $5,280 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2019 $ 5,575 (375) $ 5,200 $ 44,500 (380) $ 4,900 $ 43,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared 2018, when the turnover was 10.2? Complete this question by entering your answers in the tabs below.

Road Runner Express reported the following rounded amounts (in millions); 2018 $5,280 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2019 $ 5,575 (375) $ 5,200 $ 44,500 (380) $ 4,900 $ 43,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared 2018, when the turnover was 10.2? Complete this question by entering your answers in the tabs below.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...

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Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120 in its accounts receivable. Additionally, Karras had a credit balance in its allowance for doubtful accounts of 4,350 and 9,420 at the beginning and end of the year, respectively. During the year, Karras made credit sales of 1,530,000, collected receivables in the amount of 1,445,700, and recorded bad debt expense of 83, 750. Required: Next Level Compute the amount of accounts receivable that Karras wrote off during the year and the amount of accounts receivable at the beginning of the year.
Prior to adjustments, Barrett Companys account balances at December 31, 2019, for Accounts Receivable and the related Allowance for Doubtful Accounts were 1,200,000 and 60,000, respectively. An aging of accounts receivable indicated that 106,000 of the December 31, 2019, receivables may be uncollectible. The net realizable value of accounts receivable at December 31, 2019, was: a. 1,034,000 b. 1,094,000 c. 1,140,000 d. 1,154,000
Comprehensive Receivables Problem Blackmon Corporations December 31, 2018, balance sheet disclosed the following information relating to its receivables: The company has a recourse liability of 700 related to a note receivable sold to a bank. During 2019, credit sales (terms, n/EOM) totaled 2,200,000, and collections on accounts receivable (unassigned) amounted to 1,900,000. Uncollectible accounts totaling 18,000 from several customers were written off, and a 1,350 accounts receivable previously written off was collected. Additionally, the following transactions relating to Blackmons receivables occurred during the year: On December 31, 2019, an aging of the accounts receivable balance indicated the following: Required: 1. Prepare the journal entries to record the preceding receivable transactions during 2019 and the necessary adjusting entry on December 31, 2019. Assume a 360-day year for interest calculations and round calculations to the nearest dollar. 2. Prepare the receivables portion of Blackmons December 31, 2019, balance sheet. 3. Next Level Compute Blackmons accounts receivable turnover in days, assuming a 360-day business year. What is your evaluation of its collection policies? 4. If Blackmon uses IFRS, what might be the heading of the section for the receivables reported in Requirement 2?
Check my work E8-16 (Algo) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] Fast & Now Incorporated reported the following rounded amounts (in millions): 2019 $ 5,535 (355) 2018 $ 5,240 (360) $ 4,880 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance $ 5,180 Net Sales (assume all on credit) $ 43,500 $ 42,000 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.7? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio times Days to Collect days
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E8-16 (Static) Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] FedEx Corporation reported the following rounded amounts (in millions): Accounts Receivable. Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2019 $9,415 (300) $9,115 $69,690 4 Required: 1. Determine the receivables turnover ratio and days to collect for 2019. 2. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 8.1? 2018 $8,880 (400) $8,450 $65,450 Receivables Turnover Ratio Days to Collect Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the receivables turnover ratio and days to collect for 2019. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) 743 times 493 days
Carter & Evans reported the following rounded amounts (in millions): 2019 2018 Accounts Receivable $ 5,435 $ 5,140 Allowance for Doubtful Accounts (305) (310) Accounts Receivable, Net of Allowance $ 5,130 $ 4,830 Net Sales (assume all on credit) $ 40,500 $ 39,000 Required: Determine the receivables turnover ratio and days to collect for 2019. Do the measures calculated in requirement 1 represent an improvement (or deterioration) in receivables turnover, compared to 2018, when the turnover was 9.5?
Current Attempt in Progress At December 31, 2021, Suisse Imports reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts During 2022, the company had the following transactions related to receivables. 1. 2. 3. 4. (d) Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible V: $600,000 37,000 eTextbook and Media List of Accounts Save for Later $2,500,000 Indicate how accounts receivable and the allowance for doubtful accounts will be reported on the December 31, 2022, balance sheet. 50,000 2,200,000 41,000 SUISSE IMPORTS Balance Sheet Assets +A $ Attempts: 0 of 3 used Submit Answer
QUESTION: The uncollectible accounts expense for the year ended December 31, 2022 is?
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43. The uncollectible accounts expense for the year ended December 31, 2022 is? After reviewing the aging schedule of its accounts receivable at December 31, 2022, Pacers Company found out that the net realizable value of the receivables at that date was P150,250. Additional information as follows: Accounts receivable at December 31, 2022 Allowance for uncollectible accounts, January 1, 2022 Accounts written off, October 20, 2022 P192,500 28,000 21,000