The company's net sales are $45,000, and the beginning balance and the ending balance of net accounts receivable are $3,200 and $5,400 respectively. What is the receivable turnover ratio? A. 0.10 B. 10.47 C. 0.19 D. 5.23

The company's net sales are $45,000, and the beginning balance and the ending balance of net accounts receivable are $3,200 and $5,400 respectively. What is the receivable turnover ratio? A. 0.10 B. 10.47 C. 0.19 D. 5.23

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....

See similar textbooks

Related questions

Q: Which one of the following factors would cause the gross profit % to rise? A. Increasing sales B.…

A: The correct answer is:D. Increased supplier discounts Explanation:Gross Profit Percentage Formula:…

Q: financial account questions

A: Here's the breakdown for each item:a. Workers' compensation for an injury received while working in…

Q: General Accounting question

A: Step 1: Define Trade CreditTrade credits are sources of short-term financing and serve as a lifeline…

Q: Calculate the cost

A: Explanation of Variable Costing:Variable costing is a method of inventory valuation in which only…

Q: FiNANCIAL ACCOUNT

A: Analysis of Each OptionTo determine which items result in gross income, we rely on the Internal…

Q: I want to this question answer general accounting

A: Step 1: Calculation of Total SalesTotal Sales = Production units × Selling priceTotal Sales = 2,500…

Q: Equipment $957,500

A: Explanation of Straight-Line Depreciation:Straight-line depreciation is a method used to allocate…

Q: I want answer

A: Explanation of Predetermined Overhead Rate:The predetermined overhead rate is a rate used to apply…

Q: Financial Accounting

A: Step 1: Define Reward Credit CardA credit card that promotes card spending by providing different…

Q: Give me true answer this general accounting question

A: A) Fiscal Year-end: December 31Calculate monthly interest rate: 12% annual interest rate / 12 months…

Q: Bonita Family Instruments makes cellos. During the past year, the company made 6,700 cellos even…

A: Step 1: Identify the Key DataActual Production (AP): 6,700 cellosBudgeted Production (BP): 5,720…

Q: Calculate the predetermined overhead allocation rate on these general accounting question

A: Step 1: Define Predetermined Overhead RateThe predetermined overhead rate is a rate used to allocate…

Q: General accounting

A: Step 1: Definition of Free Cash Flow and Cash Flow Adequacy RatioFree Cash Flow (FCF): The amount of…

Q: Sub: financial accounting

A: Explanation of Return on Equity (ROE): Return on Equity is a financial ratio that measures how…

Q: financial accounting

A: Beginning Balance = $75 millionEnding Balance = $82 millionBenefits Paid = $7 millionContributions =…

Q: General Accounting

A: Step 1: Define Net IncomeNet income is the profit a company earns after deducting all expenses,…

Q: Financial Accounting

A: Step 1: Define Contribution Margin Per UnitThe Contribution Margin per Unit is the amount remaining…

Q: What is horizon industries opereting leverage?

A: The question requires the determination of the operating leverage.Operating leverage is a…

Q: None

A: The rate of return can be calculated using the formula: Rate of Return = Final Value - Initial Value…

Q: I need this question answer general Accounting

A: Step 1: Identify the given valuesStep 2: Use the Rate of Return FormulaStep 3: Substitute the given…

Q: General accounting

A: To calculate the rate of return, use the following formula. Rate of Return=Initial ValueFinal…

Q: Do fast answer of this accounting questions

A: To calculate the gross profit percentage, we first need to determine the gross profit. The formula…

Q: A company has sales of $150 million, cost of goods sold of $100 million, and a before-tax profit of…

A: To solve this, let's first calculate the current profit and the required sales increase. Step 1:…

Q: Please give me true calculation with explanation and correct answer this general accounting question

A: Step 1: Define Predetermined Overhead RateThe Predetermined Overhead Rate (POHR) is the rate used to…

Q: i need this question answer general accounting

A: To calculate the percentage rate of return on the pension plan assets, we use the formula: Rate of…

Q: Financial Accounting

A: First, let's understand what contribution margin per unit is:Contribution margin per unit = (Sales…

Q: Armour, Inc., an advertising agency, applies overhead to jobs on the basis of direct professional…

A: Explanation of Predetermined Overhead Rate: Predetermined Overhead Rate is a calculated rate used to…

Q: Kindly help me with accounting questions

A: Given:Increase in retained earnings = $75,300Dividend paid = $15,700 Formula used:Net income =…

Q: Answer this cost accounting question

A: Operating leverage measures how sensitive a company's net income is to changes in sales. It measures…

Q: What is the required interest rate of this financial accounting question?

A: The formula for compound interest is:Future Value (FV) = Present Value (PV) x (1 + r)nWhere:FV =…

Q: Please answer do fast and step by step calculation with explanation for this general accounting…

A: Using the Equation: Assets = Liabilities + Owners EquityChange in Assets = Change in Liabilities +…

Q: None

A: The rate of return is calculated using the formula:Rate of Return=Gain from Investment/Initial…

Q: Find out the margin ratio

A: Explanation of Contribution Margin Ratio:The contribution margin ratio is a financial metric that…

Q: Get correct answer the general accounting

A: Step 1: Define Supplies ExpenseSupplies expense refers to the cost of supplies used during the…

Q: general account

A: The correct answer is:c. all manufacturing costs for a job. Explanation:A job order cost sheet is a…

Q: None

A: Compensating balance = Loan amount * Compensating balance percentageCompensating balance = $75,000 *…

Q: Hi expert please give me answer general accounting question

A: Given:Final Value = $54Initial Value = $50Dividend = $2.50 Rate of Return = ((Final Value - Initial…

Q: Given correct answer financial accounting question

A: Step 1: Define Profitability Index (PI)The Profitability Index (PI) is a financial metric used to…

Q: Which statement is true for this general accounting question?

A: Option a: This option is incorrect because the incremental cost is $5 per unit. Option b: This…

Q: Hello tutor please help me this question general accounting

A: Step 1:Buyer saves money equal to the Discount allowed on the purchase if it pays the trade credit…

Q: Financial accounting question

A: Step 1: Definitions:Net Income: Profit after all expenses, including taxes and interest.Interest…

Q: Financial accounting question

A: Step 1: Define Preferred StockPreferred stock refers to the stock of an organization that has some…

Q: Need answer the financial accounting question

A: Step 1: Define Interest ExpenseInterest Expense is the cost incurred by a borrower for using the…

Q: Subject = General Account

A: To calculate the variable overhead rate variance, we use the following formula: Variable Overhead…

Q: What is the amount of the estimated ending inventory?

A: To estimate the ending inventory, we use the gross profit method. This method estimates the cost of…

Q: The dollar value of the ending inventory under variable. general accounting

A: Step 1: Define Variable CostingVariable costing is a type of costing that for the computation of…

Q: What is the firm's P/E ratio?

A: Step 1 Dividend Yield Formula. Dividend Yield=Price per ShareAnnual Dividend per Share×100…

Q: Calculate river valley manufacturing acid test ratio?

A: Step 1: Definition of Acid-Test RatioThe Acid-Test Ratio, also known as the Quick Ratio, measures a…

Q: Get answer the general accounting

A: To calculate the total cost of Job #B12, we need to include all direct costs (materials and labor)…

Q: General Accounting question

A: Step 1: Define High-Low MethodThe high-low method is used to separate the fixed costs and variable…

Question

What is the receivables turnover ratio? General accounting question please solve

The company's net sales are $45,000, and the
beginning balance and the ending balance of net
accounts receivable are $3,200 and $5,400
respectively. What is the receivable turnover ratio?
A. 0.10
B. 10.47
C. 0.19
D. 5.23

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
What is its account receivable turnover on these general accounting question?
A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts receivable turnover? a. 0.08 c. 1,341.00 e. 111.78 b. 30.41 d. 12.00
What is the accounts receivable turnover rate on these accounting question?
What is its accounts receivable turnover for the period on this general accounting question?
A company has net sales of $1,531,800 and average accounts recelvable of $414,000. What Is Its accounts receivable turnover for the perlod? Multiple Choice 3:27 0.27 6.40 22.10 75.80 3.70
1. If current assets amounted to P600,000 and current liabilities amounted to P200,000, what is the current ratio of the entity? *a. P800,000b. P400,000c. 3d. 1/3 3. If net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover ratio? *a. 4b. 1/4c. P150,000d. P250,000 5. If total assets amounted to P800,000 and total liabilities amounted to P200,000, what is the debt to equity ratio? *a. 4b. 0.3333c. 0.25d. 3
I need answer of this question general accounting
Get correct answer accounting
Provide this question solution general accounting
The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁