WalCoTarMartCostGetBeginning AccountsReceivable$ 1,7455,816559Required:1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.2. Which company appears most efficient in collecting cash from sales?Required 1 Required 2WalCoTarMartCostGetComplete this question by entering your answers in the tabs below.WalCoTarMartEnding AccountsReceivable$ 2,6926,344- 595Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.Note: Rounded to one decimal place. Enter your dollar answers in millions.Net Sales$ 315,427-60,87861,963Choose NumeratorChoose NumeratorReceivables Turnover RatioChoose DenominatorAverage Collection PeriodChoose Denominator< Prev8 of 8= Receivables turnover ratiotimestimestimes+= Average collection periodNextdaysdays

WalCo TarMart CostGet Beginning Accounts Receivable $ 1,745 5,816 559 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Required 1 Required 2 Complete this question by entering your answers in the tabs below. WalCo TarMart CostGet WalCo TarMart Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. Note: Rounded to one decimal place. Enter your dollar answers in millions. Contat Ending Accounts Receivable $ 2,692 6,344 -595 Net Sales $ 315,427- 60,878 61,963 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator < Prev 8 of 8 ‒‒‒ B Receivables turnover ratio times times times Average collection period days days Next >

WalCo TarMart CostGet Beginning Accounts Receivable $ 1,745 5,816 559 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Required 1 Required 2 Complete this question by entering your answers in the tabs below. WalCo TarMart CostGet WalCo TarMart Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. Note: Rounded to one decimal place. Enter your dollar answers in millions. Contat Ending Accounts Receivable $ 2,692 6,344 -595 Net Sales $ 315,427- 60,878 61,963 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator < Prev 8 of 8 ‒‒‒ B Receivables turnover ratio times times times Average collection period days days Next >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A manufacturer reports the data below. Accounts payable Accounts receivable Inventory Net sales $ 9,649 18,474 5,455 233,607 Cost of goods sold 138,200 (1) Compute the number of days in the cash conversion cycle. (2) Is the company more efficient at managing cash than its competitor who has a cash conversion cycle of 14 days? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the number of days in the cash conversion cycle. Note: Use 365 days in a year. Round calculations to the nearest whole day. Cash conversion cycle days
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Moving to another question will save Question 13 A. Cash payments journal A company entered into the following transactions. Match each transaction with the appropriate journal in which it should be record Purchased merchandise from Able Co. for $2,000 terms 2/10, n/30. Invoice dated August 1. B. Purchases journal - Paid cash to incite Telephone Co. for monthly telephone bill $250, Check No. 758. c. General Journal - Sold merchandise on credit to Delta Corp. for $3,000, terms, 2/10, n/30, Involce No. 246. Cost of Goods Sold is $1,740. D. Cash receipts journal Received cash payment in full from Delta Corp. for August 5 sale. E. Sales Journal -Recorded cash sales for the month, $9,000. Returned defective inventory purchased on account from Able Co. for $550.
Entry for Cash Sales; Cash Short The actual cash received from cash sales was $35,699, and the amount indicated by the cash register total was $35,731. Journalize the entry to record the cash receipts and cash sales. If an amount box does not require an entry, leave it blank. Cash fill in the blank 2 fill in the blank 3 Cash Short and Over fill in the blank 5 fill in the blank 6 Sales fill in the blank 8 fill in the blank 9
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As a company accounts payable manager, which of the following credit terms are most likely to entice you to take the cash discount? A. 2/10 net 90 B. 1/10 net 45 C. 2/10 net 60 D. 1/10 net 30
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b Preview File Edit View Go Tools Window Help mgt120h-a17.pdf Page 5 of 10 15. The retailer considers VISA and MasterCard sales as a. Cash sales. b. Promissory notes. c. Credit sales. d. Contingent sales. Cost-Volume-Profit Analysis 40 14. Receivables might be sold to a. Lengthen the cash-to-cash operating cycle. b. Take advantage of deep discounts on the cash realizable value of receivables. c. Generate cash quickly. d. Finance companies at an amount greater than cash realizable value. The Effect Of Prepaid Taxes On Assets And Liabili... O Debenture Valuation CC 7 D ↑ V Search (Cª Ơ Sat Apr 15 3:05 PM 13. Goodwill can be recorded When customers keep returning because they b. When the company ang because they are satisfied with the company's products. d. Only when there is an exchange transaction involving the purchase of an entire business. c. When the company has exceptional mor business 400-0 -0 =1 Page 4 of 11