I want to correct answer general accounting question The following information is available:Item20212022Net Accounts Receivable $562,500 $625,000Net Credit Sales$4,850,000 $5,250,000Compute the receivables turnover ratio for 2022.A. 8.85 timesB. 8.40 timesC. 9.33 timesD. 8.60 times

Step 1: Calculation of Average Accounts ReceivablesNet Accounts Receivables for 2021 = $562,500Net…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

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Particulars Procter & Gamble Colgate-Palmolive Net Sales 2018 66832 15544 Accounts Receivables 2018 4686 1400 Accounts Receivables 2017 4594 1480 Average Receivables (4686+4594)/2 = 4640 (1400+1480)/2 = 1440 Accounts Receivables Turnover Ratio = Net Credit Sales ÷ Average Receivables 66832/4640 = 14.40 15544/1440 = 10.79 DSO = Accounts Receivables ÷ Net Credit Sales × 365 14.40/66832 = 25.34 10.79/15544 = 33.81 A) Identify and discuss a potential explanation for the difference between these competitors’ Accounts receivable ratios
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The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
Its. Problem 5 ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: teme 20X2 20X1 Average accounts receivable $ 400,000 S 416,000 Net credit sales $2,600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day year. is, an
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What is Verizon Wireless’s average daily credit sales? (Enter your answer in $ Million.) Select Financial Metrics Month Avg 2020 Accounts Receivables 409,489 Credit Sales 690,049 Cash On Hand 1348 All figures in $ Millions Note figures are the monthly average.
Net credit sales $120,000 Average accounts receivable 20,000 Cash collections on credit sales 100,000 What is the receivables turnover ratio??
Comparative figures for Apple and Google follow. $ millions Apple Google Current Year One Year Prior Two Years Prior Current Year One Year Prior Two Years Prior Accounts receivable, net $ 22,926 $ 23,186 $ 17,874 $ 25,326 $ 20,838 $ 18,336 Net sales 260,174 265,595 229,234 161,857 136,819 110,855 Required:1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google.2. Which company more quickly collects its accounts receivable in the current year?
How much is the accounts receivable turnover ratio on these accounting question?
4. The following select financial statement information from Hogge Computing. Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2021 and 2022 (round answers to two decimal places). Year 2020 2021 2022 2021: Net Credit Sales 2022: $1,557,200 $1,755,310 $1,965,170 Accounts Receivable Turnover Ratio: • Days' Sales: days Accounts Receivable Turnover Ratio: Days' Sales: days times times Ending Accounts Receivable $397,000 $465,200 $505,780
Logan Sales provides the following information: Net credit sales: $770,000 Beginning net accounts receivable: $45,000.00 Ending net accounts receivable: $22,000 Calculate the accounts receivable turnover ratio. (Round your answer to the nearest whole number.) A. 23 times B. 35 times C. 33 times D. 17 times
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The following information is available: Item 2021 2022 Net Accounts Receivable $562,500 $625,000 Net Credit Sales $4,850,000 $5,250,000 Compute the receivables turnover ratio for 2022. A. 8.85 times B. 8.40 times C. 9.33 times D. 8.60 times