The following information in the table is available for Oakland Company. 2014 2013 Accounts receivable $430,000 $460,000 Inventory $280,000 $320,000 Net credit sales $2,670,000 $1,600,000 Cost of goods sold $1,860,000 $1,060,000 Net income $300,000 $170,000 The accounts receivable turnover for 2014 is: ⚫ (a) 5.8 times ⚫ (b) 6.2 times ⚫ (c) 6.0 times ⚫ (d) 1.4 times
The following information in the table is available for Oakland Company. 2014 2013 Accounts receivable $430,000 $460,000 Inventory $280,000 $320,000 Net credit sales $2,670,000 $1,600,000 Cost of goods sold $1,860,000 $1,060,000 Net income $300,000 $170,000 The accounts receivable turnover for 2014 is: ⚫ (a) 5.8 times ⚫ (b) 6.2 times ⚫ (c) 6.0 times ⚫ (d) 1.4 times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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