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Rockland Ltd. revealed the following information for the years ending December 31, 2023 and 2022: 2023 2022 Current Assets Cash Accounts Receivable Inventory Prepaid expenses Total Current Assets Current Liabilities Net Credit Sales $3,000 49,500 375,000 800 $428,300 $280,000 $480,000 $3,350 59,800 333,250 800 $397,200 $245,000 $451,000 Calculate the Account receivables turnover ratio for 2023 (use 2 decimals)

Rockland Ltd. revealed the following information for the years ending December 31, 2023 and 2022: 2023 2022 Current Assets Cash Accounts Receivable Inventory Prepaid expenses Total Current Assets Current Liabilities Net Credit Sales $3,000 49,500 375,000 800 $428,300 $280,000 $480,000 $3,350 59,800 333,250 800 $397,200 $245,000 $451,000 Calculate the Account receivables turnover ratio for 2023 (use 2 decimals)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Rockland Ltd. revealed the following information for the years ending December 31, 2023 and 2022: 2023 2022 Current Assets Cash Accounts Receivable Inventory Prepaid expenses Total Current Assets Current Liabilities Net Credit Sales $3,000 49,500 375,000 800 $428,300 $280,000 $480,000 $3,350 59,800 333,250 800 $397,200 $245,000 $451,000 Calculate the Account receivables turnover ratio for 2023 (use 2 decimals)
Transcribed Image Text:Rockland Ltd. revealed the following information for the years ending December 31, 2023 and 2022: 2023 2022 Current Assets Cash Accounts Receivable Inventory Prepaid expenses Total Current Assets Current Liabilities Net Credit Sales $3,000 49,500 375,000 800 $428,300 $280,000 $480,000 $3,350 59,800 333,250 800 $397,200 $245,000 $451,000 Calculate the Account receivables turnover ratio for 2023 (use 2 decimals)
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