This Year: Accounts receivable = P135,000 Inventory = P136,000 Sales on account = P698,000 Cost of goods sold = P429,000 Last year: Accounts Receivable = P119,000 Inventory = P155,000 1. The accounts receivable turnover for this year is closest to: a. 0.88 b. 5.50 c. 5.17 d. 1.13 2. The average collection period for this year is closest to: a. 65 days b. 56 days c. 80 days d. 90 days
This Year: Accounts receivable = P135,000 Inventory = P136,000 Sales on account = P698,000 Cost of goods sold = P429,000 Last year: Accounts Receivable = P119,000 Inventory = P155,000 1. The accounts receivable turnover for this year is closest to: a. 0.88 b. 5.50 c. 5.17 d. 1.13 2. The average collection period for this year is closest to: a. 65 days b. 56 days c. 80 days d. 90 days
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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This Year:
Accounts receivable = P135,000
Inventory = P136,000
Sales on account = P698,000
Cost of goods sold = P429,000
Last year:
Accounts Receivable = P119,000
Inventory = P155,000
1. The accounts receivable turnover for this year is closest to:
a. 0.88
b. 5.50
c. 5.17
d. 1.13
2. The average collection period for this year is closest to:
a. 65 days
b. 56 days
c. 80 days
d. 90 days
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