Velocity Enterprises had an accounts receivable balance of $80,000 at the beginning of the year and $96,000 at the end of the year. What is the percentage change in accounts receivable at the end of the current year?
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- Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. 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.Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.The financial statements of the Sunland Company report net sales of $384000 and accounts receivable of $50400 and $33600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days?
- The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of $55200 and $27600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)What is number of days sales are receivable?A company reports the following: Sales Average accounts receivable (net) Determine (a) the accounts receivable turnover and (b) number of days' sales in receivables. Round your answers to one decimal place. Assume a 365- day year. a. Accounts receivable turnover $398,580 76,650 b. Number of days' sales in receivables days
- What is the net realizable value of accounts receivable at the end of year, given the following information:Balance in Accounts Receivable at end of year, $104,000Balance in Allowance for Doubtful Accounts, beginning of year, $2,000 debitWrite-offs during year, $5,000Bad debt expense for year, $9,000Recoveries during year of accounts previously written-off, $2,000What is it's accounts receivable balance on these general accounting question?The following data are taken from the financial statements of Coronado Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $465,000. (Round answers to 1 decimal place, e.g. 1.6.) Accounts receivable turnover eTextbook and Media Save for Later (a2) 2022 2021 $525,000 $500,000 4,100,000 3,184,500 Average collection period 2022 times 2022 days 2021 2021 times Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $465,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Assistance Used Attempts: unlimited days Submit Answer
- 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.Yom Electronics has an accounts receivable turnover for the year of 8.2. Net sales for the period are $120,000. What is the number of days' sales in receivables? accurate answerRamsey 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?