Need ans financial accounting question Woodland Electronics provides the following financial information:Financial MetricAmountNet Accounts Receivable (Dec 31, 2016) $512,600Net Accounts Receivable (Dec 31, 2017) $588,400Net Credit Sales for 2016Net Credit Sales for 2017$4,275,500$4,622,300Calculate the receivables turnover ratio for 2017.

Step 1: Define Receivables Turnover RatioThe Receivables Turnover Ratio measures how efficiently a…

Answered: Woodland Electronics provides the…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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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)?
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
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?
The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?
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Merck & Company reported the following from its 2016 financial statements. $ millions 2013 2014 2015 2016 Accounts receivable, net $7,682 $7,121 $6,981 $7,511 Allowance for doubtful accounts 154 163 175 213 a. Compute accounts receivable gross for each year. $ millions 2014 Accounts receivable, gross $ 2013 $ $ 2015 $ 2016
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The following is select financial statement information from Candid Photography: Year Net Credit Sales Ending Accounts Receivable 2017 $2,988,000 $1,290,450 2018 $3,750,860 $1,345,600 2019 $4,000,350 $1,546,550 Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2018 and 2019 (round answers to two decimal places): 2018 Accounts Receivable Turnover _______ times. A. 2.85 B. 2.91 C. 1.42 D. 2.79 2018 Days' Sales in Receivables ________days. A. 128.07 B. 125.43 C. 257.04 D. 130.82 2019 Accounts Receivable Turnover _________times. A. 2.97 B. 2.77 C. 1.38 D. 2.59 2019 Days' Sales in Receivables _______days. A. 131.77 B. 122.90 C. 140.93 D. 264.49 What do the outcomes tell a potential investor about Candid Photography if industry average for accounts receivable turnover ratio is 3…

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