The financial statements of Langford Manufacturing Company report net sales of $620,000 and accounts receivable of $95,000 at the beginning of the year and $55,000 at the end of the year. What is the accounts receivable turnover for Langford?

The financial statements of Langford Manufacturing Company report net sales of $620,000 and accounts receivable of $95,000 at the beginning of the year and $55,000 at the end of the year. What is the accounts receivable turnover for Langford?

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: None

A: Morrison Company is currently foregoing a 3% discount on its purchases by paying on day 60 instead…

Q: Serfass Corporation's contribution format income statement for July appears below: Sales Variable…

A: Step 1: Definition of Degree of Operating LeverageThe degree of operating leverage (DOL) measures…

Q: Problem for accounting question please solve

A: The total acquisition cost of the new building includes all expenses directly related to its…

Q: What is the depreciation for year 2 ?

A: Step 1:Under the straight-line method, the depreciation expense is calculated by dividing the…

Q: Please solve. and provide correct solution

A: The Return on Equity (ROE) is calculated using the formula:ROE=Net Income/Total Equity Step 1: Find…

Q: Need Answer

A: Step 1: Calculation of annual depreciationOriginal Cost = $140,000Residual Value = $10,000Useful…

Q: Calculate the Debt to Equity Ratio.

A: The Debt to Equity Ratio is calculated using the formula: Debt to Equity Ratio=Total EquityTotal…

Q: Sheridan Manufacturing prepared a static budget.

A: Step 1: Calculation of Variable Overhead Cost for 62,000 direct labor hoursVariable overhead cost…

Q: How much is the direct labor price variance?

A: Explanation of Direct Labor Price Variance:Direct labor price variance measures the difference…

Q: Please see an attachment for details of this general accounting question

A: Step 1: Define Total AssetsTotal Assets represent the sum of all the resources owned by a company…

Q: 4 POINTS

A: Step 1:Under the high-low method, the variable cost per unit is calculated by dividing the…

Q: MAX's Auto Repair, a proprietorship, started the year with total assets of $72,000 and total…

A: Explanation of Owner's Capital:Owner's capital represents the amount invested by the owner in a…

Q: Provide answer this general accounting question

A: Step 1: Define Sales RevenueSales Revenue refers to the total amount generated from selling goods or…

Q: Account Question answer wanted.

A: Step 1: Definition of Return on Assets (ROA)Return on Assets (ROA) is a financial ratio that…

Q: Activity cost pool?

A: Step 1: Definition of Activity RateThe activity rate in Activity-Based Costing (ABC) refers to the…

Q: hello teacher please help me

A: Step 2: Effect of the Dividend DistributionThe company distributes $80 million in cash as a…

Q: Hello tutor please provide this question solution general accounting

A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) represents the cash…

Q: Please need answer the financial accounting question

A: The interest expense for the year ended December 31, 2022 is calculated as follows: Interest expense…

Q: Everest Ltd. wants to earn a pre-tax income of $75,000. The company has total fixed costs of…

A: Step 1: Definition of Target Sales in UnitsTarget Sales in Units refers to the number of units a…

Q: Gama Co. sold merchandise to Harper Co. on account for $50,000, with terms of 3/10, net 60. The cost…

A: Explanation of Sales Revenue:Sales revenue is the total income a business generates from selling…

Q: Need your help with Question

A: Concept of Net IncomeNet income is the total profit a company earns after deducting all operating…

Q: Want answer

A: Given Data:Initial Operating Income = $150,000Degree of Operating Leverage (DOL) = 3.1Expected Sales…

Q: What is falcon enterprise price earnings ratio??

A: The price-earnings (P/E) ratio is calculated using the formula:P/E Ratio=Earnings per Share…

Q: Subject:-- general accounting

A: Step 1: Definition of Degree of Operating Leverage (DOL)The Degree of Operating Leverage (DOL)…

Q: Help

A: Calculation of the Total Cost of the MachineTotal Cost of the Machine = Purchase price + shipping…

Q: Determine the company's 2014 operating leverage.

A: Step 1: Identify Given ValuesSelling price per crate = $95Variable cost per crate = $78Fixed costs…

Q: General accounting question

A: The lower of cost or market (LCM) rule is an accounting principle that requires inventory to be…

Q: I don't need ai answer general accounting question

A: Step 1: Definition of Operating Cash Flow (OCF)Operating Cash Flow (OCF) represents the cash…

Q: What is the total budgeted direct labor cost

A: Explanation of Budgeted Direct Labor Cost:Budgeted direct labor cost represents the total expected…

Q: Calculate the annual depreciation charge.

A: Step 1:Formula of depreciation under straight line depreciation method ( Cost of assets- salvage…

Q: Give me solution this question

A: Step 1: Definition of Paid-in CapitalPaid-in Capital (Additional Paid-in Capital, APIC) refers to…

Q: Need help

A: 1.Calculate Contribution Margin per Ribbon: This is found by subtracting the variable cost per…

Q: Provide Answer

A: We need to calculate the owners' equity at the end of the year based on the given information. The…

Q: What is its standard manufacturing overhead rate per unit of this general accounting question?

A: Step 1: Definition of Standard Manufacturing Overhead RateThe standard manufacturing overhead rate…

Q: Calculate the goodwill of the firm using

A: Concept of GoodwillGoodwill is an intangible asset that represents the excess value of a business…

Q: Solve this questions

A: Step 1: Definition of Maturity ValueThe total amount of the entire amount invested and the return…

Q: Exercise 2 Make an Excel spreadsheet to compute gross wages due each employee under federal…

A: Open Excel and create a new spreadsheet. Label the first worksheet 'Exercise 1' and the second…

Q: Determine how many units the company sold in 2022 for this general accounting question

A: Step 1: Define Absorption vs. Variable Costing DifferenceUnder absorption costing, fixed…

Q: 4 POINTS

A: Provided Data:Beginning Owners' Equity = $135,000Net Income = $42,000Dividends Paid = $31,000 Step…

Q: HELP

A: Calculation of Annual Depreciation using the Straight-Line MethodAnnual Depreciation = (Purchase…

Q: Financial Accounting

A: Step 1: Define Cost of Trade CreditCost of trade credit refers to the implicit cost a company incurs…

Q: ANSWER?

A: Return on Assets (ROA) Calculation for the Current Year ROA is calculated using the formula:…

Q: Provide right answer

A: Concept of Manufacturing OverheadManufacturing Overhead includes all indirect costs incurred in the…

Q: Answer this Question

Q: What is the depreciation for year 2 ?

A: Calculate the Total Cost of the Asset:Purchase Price: $25,000Shipping Costs: $750Installation Costs:…

Q: General accounting question

A: Step 1: Definition of Gross Profit RateThe gross profit rate is the percentage of revenue that…

Q: Give me ans

A: Step 1: all ques have been solved and logic has been given but correct answer of first ques needs to…

Q: Ans

A: Let's solve the problem step by step.Given:Selling Price (SP) = $95Markup Percentage (based on…

Q: How much is the direct labor price variance?

A: Explanation of Direct Labor Price Variance: This represents the difference between the actual hourly…

Q: Falcon Enterprises starts the year with $15,000 in its cash account, $12,500 in its equipment…

A: Calculation of Book Value of the EquipmentBook Value of the Equipment = Equipment Cost - Accumulated…

Question

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

The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory 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.
Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.
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.
What is the receivables turnover ratio for bolton?
The financial statements of the Bolton Manufacturing Company reported net sales of $530,000 and account receivable of $68,000 and $32,000 at the beginning of the year and end of the year, respectively. What is the receivables turnover ratio for Bolton?
The financial statements of the Sunland Company reports net sales of $438450 and accounts receivable of $80000 and $31000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Sunland Company?
What is the account receivable turnover for Skyline Corporation ?
What is the accounts receivable turnover for skyline corporation?
What is the accounts receivable turnover for this financial accounting question?
I am waiting for answer
Northern Lights Inc. had net credit sales of $600,000 and accounts receivable of $75,000 at the beginning of the year and $85,000 at the end of the year. What is the accounts receivable turnover ratio for the company?