Turbo Company's accounts receivable account balance was $100,000 at the beginning of the year and $120,000 at the end of the year. Turbo's percentage change calculation at the end of the current year is: a. 16.7% decrease. b. 16.7% increase. c. 20% decrease. d. 20% increase.
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- Juroe Company provided the following income statement for last year: Juroes balance sheet as of December 31 last year showed total liabilities of 10,250,000, total equity of 6,150,000, and total assets of 16,400,000. Required: 1. Calculate the return on sales. (Note: Round the percent to two decimal places.) 2. CONCEPTUAL CONNECTION Briefly explain the meaning of the return on sales ratio, and comment on whether Juroes return on sales ratio appears appropriate.Ramsey Corp. reported the following balances at the end of the year: Credit Sales: $275,000 Accounts Receivable: $68,000 Allowance for Uncollectible Accounts before adjustment: $2,800 debit Ramsey Corp. estimates that 7.5% of the credit sales are uncollectible. After the year-end adjustment, what is the Net Realizable Value of Accounts Receivable?X Company had credit sales of $700,000 during the year. End of year accounts receivable was $60,000 and beginning accounts receivable was $40,000. Compute the company's receivables turnover ratio. a. 0.07. b. 11.7. c. 14.0. d. 17.5. e. 35.0.
- For its most recent year, a certain company had sales (all on credit) of $830,000 and cost of goods sold of $525,000. At the beginning of the year, its accounts receivable were $80,000 and its inventory was $100,000. At the end of the year, its accounts receivable were $86,000 and its inventory was $110,000. What is the accounts receivable turnover ratio for the year? a. 6.3 b. 7.5 c. 10.0Barga Company's net sales for Year 1 and Year 2 are $669,000 and $750,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $56,000; and Year 2, $91,000.a. Complete the below table to calculate the days' sales uncollected at the end of each year.b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?Barga Company's net sales for Year 1 and Year 2 are $663,000 and $749,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $61,000; and Year 2, $98,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. b. Did days' sales uncollected improve or worsen in Year 2 versus Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Complete the below table to calculate the days' sales uncollected at the end of each year. Note: Do not round intermediate calculations. Round your "Days' Sales Uncollected" answers to 1 decimal place. Year 1: Year 2: Choose Numerator: Accounts receivable $ $ Days' Sales Uncollected 1 Choose Denominator: X /Net sales X 61,000 x 98,000 x 663,000/ $ 749,000/ $
- What is the company's average collection period on these general accounting question?Barga Company's net sales for Year 1 and Year 2 are $665,000 and $743,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $57,000; and Year 2, $97,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. b. Did days' sales uncollected improve or worsen in Year 2 versus Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Complete the below table to calculate the days' sales uncollected at the end of each year. Note: Do not round intermediate calculations. Round your "Days" Sales Uncollected" answers to 1 decimal place. Year 1: Year 2: Choose Numerator: Days' Sales Uncollected Choose Denominator: X Days = Days' Sales Uncollected X == Days' sales uncollected X days X days Required A RequiredBarga Company's net sales for Year 1 and Year 2 are $666,000 and $747,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $62,000; and Year 2, $95,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. b. Did days' sales uncollected improve or worsen in Year 2 versus Year 1? Complete this question by entering your answers In the tabs below. Required A Required B Complete the below table to calculate the days' sales uncollected at the end of each year. (Do not round intermediate calculations. Round your "Da Sales Uncollected" answers to 1 decimal place.) Days' Sales Uncollected Choose Denominator: Days Days' Sales Uncollected %3D Choose Numerator: Days' sales uncollected !! days Year 1: days Year 2: Required B >
- A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year.Provide SoluBarga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $65,000; and Year 2, $123,000. a. Compute its days’ sales uncollected at the end of each year. Round the number of days to one decimal. b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?