Wildhorse Co. had a balance in the Accounts Receivable account of $768,000 at the beginning of the year and a balance of $865,000 at the end of the year. Net credit sales during the year amounted to $653,2000. The average collection period of the accounts receivable in terms of days was: A. 91.3 days. B. 35 days. C. 45.6 days. D. 48 days.

Wildhorse Co. had a balance in the Accounts Receivable account of $768,000 at the beginning of the year and a balance of $865,000 at the end of the year. Net credit sales during the year amounted to $653,2000. The average collection period of the accounts receivable in terms of days was: A. 91.3 days. B. 35 days. C. 45.6 days. D. 48 days.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

See similar textbooks

Similar questions

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.
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.
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.
South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales for the year are $769,346. The balance at the end of 2017 was $325,300. What is the accounts receivable turnover rate for 2018 (rounded to two decimal places)? A. 2.02 times B. 2.25 times C. 2.15 times D. 1.13 times
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During the year, Hart sold a considerable amount of merchandise on credit and collected $2,427,000 of its credit sales. At the end of the year, the accounts receivable balance is $16,800 lower than the beginning balance. Required: Calculate the amount of credit sales during the period.
The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of S80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the average collection period for accounts receivable in days (rounded)? O 49 days O 16 days 24 days 32 days
SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the year and a balance of $690000 at the end of the year. Net credit sales during the year amounted to $642000o. The accounts receivable turnover was a.10.3 times. b.126 times. c.10.7 times. d.5.4 times.
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?
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.)
Wildhorse Co. had net credit sales during the year of $1223200 and cost of goods sold of $712000. The balance in accounts receivable at the beginning of the year was $121200 and at the end of the year was $156800. What was the accounts receivable turnover? 10.8 7.5 5.6 8.8
ord Corporation had net credit sales during the year of $1116550 and cost of goods sold of $448000. The balance in accounts receivable at the beginning of the year was $114000 and at the end of the year was $160000. What was the accounts receivable turnover? 6.9 8.2 5.0 10.2