Twist Corp. has a current accounts receivable balance of $328,800. Credit sales for the year just ended were $4,192,200.a. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g.,32.16.)a. Receivables Turnover:b. Days' sales in receivables:c. Average collection period:timesdaysdays

The question is related to Ratio Analysis. The Receivables Turonver Ratio is calculated in times…

Answered: Twist Corp. has a current accounts…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
Dahlia Corporation has a current accounts receivable balance of $329,800. Credit sales for the year just ended were $4,369,850. a. What is the company's receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Days' sales in receivables c. Average collection period times days days
Trout Lumber Yard has a current accounts receivable balance of $440,516. Credit sales for the year just ended were $6,354,830. a. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the days’ sales in receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. How long did it take on average for credit customers to pay off their accounts during the past year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just ended were $2,936,600. a. What is the receivables turnover? b. What is the days' sales in receivables?
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trout lumber Yard has a current accounts receivable balance of $442016. Credit sales for the year just ended were $9358610 a. What is the receivables turnover? b. What is the day's receivables? c. How long did it take on average for credit customers to pay off their accounts during the past year? a. Receivables turnover _____ times b. Days sales in receivables ____ days c. Average collection period_____ days
A company reports the following: Sales $1,359,990 Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover.fill in the blank 1 b. Determine the number of days' sales in receivables.fill in the blank 2

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