MANAGERIAL ACCOUNTING FUND. W/CONNECT
MANAGERIAL ACCOUNTING FUND. W/CONNECT
5th Edition
ISBN: 9781259688713
Author: Wild
Publisher: MCG
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Chapter 13, Problem 8DQ
To determine

Account Receivable Turnover Ratio:

It is defined as the measure of efficiency in receivables by a company. It reflects the sales as the number of times of average receivables.

To identify: The account receivable turnover importance for a company’s short term liquidity.

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The following balances appeared in the books of Tredwell Stores on 29 February 2016, the end of the financial year: $ Purchases 3,84,000 Sales 8,88,000 Opening inventory 60,000 Closing inventory 72,000 30,000 Carriage on purchases The gross profit for the year ended 29 February 2016 is: A. $344,000 B. $486,000 C. $462,000 D. None of the above
Calculate the net profit

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MANAGERIAL ACCOUNTING FUND. W/CONNECT

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