Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong. The accounts receivable turnover.

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Answer 1

Question

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

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Problem No. 2 The trial balance of Cleint Lumanao Nacho Supplies on February 10, 2025, before accepting Shila Tajonera as partner is shown as follows: Account Title Debit Credit Ato Cash reening smuo P 100,000 Accounts Receivable 250,000 Allowance for Uncollectible Accounts P 20,000 o Merchandise Inventory Equipment Accumulated Depreciation Accounts Payable Notes Payable 120,000 275,000 55,000 50,000 82,000 538,000 Lumanao, Capital Total P 745,000 P 745,000 Tajonera offered to invest cash to get a capital credit equal to one-half of Lumanao's capital after giving effect to the adjustments below. Lumanao accepted the offer. Valuation of some of the assets and liabilities of Lumanao, as agreed by the partners, are the following: • The merchandise is to be valued at P93,000. The accounts receivable is estimated to be 90% collectible. • The equipment is to be valued at P200,000. The partners also agreed that the name of the partnership will be Nacho Business. Required: 1. In the books of…

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Answer 2

Question

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

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Answer 3

Question

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

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Answer 4

Question

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

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Answer 5

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

Answer 6

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

Answer 7

Chapter 9, Problem 21QS

a

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivables turnover indicates the company collects receivables quickly and the credit policies are very strong.

The accounts receivable turnover.

Answer 8

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

Answer 9

b

To determine

Concept Introduction: Accounts receivable turnover is a measure of efficiency because the longer the receivables are outstanding likelihood of collection would be lower. Accounts receivable turnover ascertains how quickly a company has converted its receivable into cash. Higher accounts receivable turnover indicates company collects receivables quickly and the credit policies are very strong.

The comparison of R Company’s receivable turnover with competitor’s receivable turnover of 7.5 times.

Answer 10

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Answer 12

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Answer 13

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