The following balance sheet information was provided by O'Connor Company:AssetsCashAccounts receivableInventoryYear 2Year 1$ 2,300$ 1,3005,3007,300$$23,00024,000Assuming that net credit sales for Year 2 totaled $148,000, what is the company's most recent accounts receivable turnover?Multiple ChoiceO11.75 times20.27 times27.92 times23.49 times< Prev4 of 35 Next >MacBook Air

The objective of the question is to calculate the accounts receivable turnover for O'Connor Company…

Answered: The following balance sheet information…

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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Excerpts from Sydner Corporation's most recent balance sheet appear below: Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Year 2 Year 1 $ 140 $ 160 210 230 240 200 10 10 $ 600 $ 600 $360 $ 330 Sales on account in Year 2 amounted to $1,390 and the cost of goods sold was $900. The accounts receivable turnover for Year 2 is closest to:
Based on the following data, what is the accounts receivable turnover? Line Item Description Amount Sales on account during year $481,916 Cost of goods sold during year 220,075 Accounts receivable, beginning of year 44,464 Accounts receivable, end of year 52,698 Inventory, beginning of year 82,460 Inventory, end of year 110,155 a. 4.4 b. 9.9 c. 2.2 d. 10.8
A company had net sales of $570,000, total sales of $720,000, and average accounts receivable, net of $81,500. Its accounts receivable turnover equals: Multiple Choice 8.83 6.99 0.79 0.14 0.11
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales $1,715 5,666 529 WalCo TarMart CostGet Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet $2,662 $312,427 6,194 57,878 565 58,963
Using the following data for the current year, determine the accounts receivable turnover. Net sales on account during the year $ 457,065 Cost of merchandise sold during the year 461,280 Accounts receivable, beginning of year 75,290 Accounts receivable, end of year 26,280 Inventory, beginning of year 185,000 Inventory, end of year 169,570 a.7 b.8 c.10 d.9
Accounts Receivable Analysis The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $157,200 $164,000 $171,800 Sales on account 883,300 789,130 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days This can be seen in both the in accounts receivable b. The collection of accounts receivable has turnover and the in the collection period.
Cash and accounts receivable for Adams Company are as follows: Current Year Prior Year Cash $88,172 $65,800 Accounts receivable (net) 32,424 57,900 What are the amounts and percentages of increase or decrease that would be shown with horizontal analysis? Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %
Vishnu
The following balance sheet information was provided by Western Company: Assets Cash Accounts receivable Inventory Multiple Choice O 110.6 days Assuming Year 2 net credit sales totaled $132,000, what was the company's average days to collect receivables? Note: Use 365 days in a year. Do not round your intermediate calculations. 52.5 days 55.3 days Year 2 58.1 days $3,200 $21,000 $36,000 Year 1 $2,700 $19,000 $42,000
Please help me with show all calculation thanku
Use the attachment to answer the following Accounts receivable days outstanding at the end of Year 2 is closest to: a) 30.6 days b) 26.0 days c) 27.0 days d) 6.1 days
Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in Days Last year, Dogwood Company had net sales of $8,987,000 and cost of goods sold of $4,812,000. Dogwood had the following balances: January 1 December 31 Accounts receivable $725,000 $775,000 Inventory 450,000 425,000 Required: Note: Round answers to one decimal place. Assume 365 days per year. 1. Calculate the average accounts receivable.$fill in the blank 1 2. Calculate the accounts receivable turnover ratio.fill in the blank 2 times 3. Calculate the accounts receivable turnover in days.fill in the blank 3 day

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