Below are amounts for two companies: For each company, calculate the receivables turnover ratio. Which company appears
Question:
For each company, calculate the receivables turnover ratio. Which company appears more efficient in collecting cash from sales?
Transcribed Image Text:
Beginning Accounts Ending Accounts Receivable (net) Net Receivable (net) Sales Company 1 Company 2 $1,200 $29,700 80,000 $1,500 3,100 3,300
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 71% (7 reviews)
Receivable turnover ratio company A Net sale B...View the full answer
Answered By
Sheikh Muhammad Ibrahim
During the course of my study, I have worked as a private tutor. I have taught Maths and Physics to O'Level and A'Level students, as well as I have also taught basic engineering courses to my juniors in the university. Engineering intrigues me alot because it a world full of ideas. I have passionately taught students and this made me learn alot. Teaching algebra and basic calculus, from the very basics of it made me very patient. Therefore, I know many tricks to make your work easier for you. I believe that every student has a potential to work himself. I am just here to polish your skills. I am a bright student in my university. My juniors are always happy from me because I help in their assignments and they are never late.
4.90+
14+ Reviews
24+ Question Solved
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Question Posted:
Students also viewed these Cost Accounting questions
-
Below are amounts for two companies: 1. For each company, calculate the accounts receivable average collection period 2. Which company appears more efficient in collecting cash from sales? Company 1...
-
Below are amounts (in millions) from three companies annual reports. Required: For each company, calculate the receivables turnover ratio and the average collection period (rounded to one decimal...
-
Below are amounts (in millions) reported in each of these companies annual reports? Required: For each company, calculate the receivables turnover ratio and the average collection period. Which...
-
Name one industry (retail, technology, biopharma, etc) that you find interesting and compelling and state why it attracts your interest. Lookup a public company in that industry - Who is it? Look at...
-
Coherent light with wavelength 600 urn passes through two very narrow slits and the interference pattern is observed on a screen 3.00 m from the slits. The first-order bright fringe is at 4.84 mm...
-
(a) A small plastic bead with a mass of 11.4 g and a charge of -0.702 C is suspended in equilibrium above the center of a large, horizontal sheet of rubber that has a uniform charge density on its...
-
Demonstrate the relationship between project worth and cash flow.
-
For each of the firms shown in the following table, use the data given to estimate its common stock value employing price/earnings (P/E)multiples. Firm Expected EPS Price/earnings multiple $3.00 4.50...
-
Graph the function. (3-x, x <0 h(x)= x +2, x0
-
Pattys Pies acquired a delivery truck on January 1, 2020, for $86,000. It is expected to last five years and then sell for about $16,000. Calculate depreciation for each year of the trucks life using...
-
Clark Corporation manufactures cooling system components. The company has gathered the following information about two of its customers: Engle Equipment and Midwest Refrigeration.Engle Equipment:...
-
Compu-Globo is a hypothetical online marketing strategy company in Beachwood, Ohio. Three years after its founding, CEO Nick Morlan is ready to start hiring staff, because the company has expanded...
-
Discuss how one decides whether a model is too simple or unnecessarily complicated.
-
Mabel has total income of 26,205 in 2017-18, none of which is derived from savings or dividends. During the year she makes a net deductible payment of 200. Show her income tax computation for the...
-
Calculate the 2017-18 income tax liability of a non -Scottish taxpayer with income for the year as follows: (a) Business profits of 27,105 and bank interest of 720. (b) Business profits 44,150,...
-
Calculate the basic personal allowance available in 2017-18 to a taxpayer with adjusted net income of: (a) 90,000 (b) 108,000 (c) 130,000.
-
Mary's income for tax year 2017-18 consists of business profits of 26,920, dividends received of 124,460 and rents received of 3,750. Her personal allowance for the yearis nil. Calculate Mary's...
-
What are different binary tree traversal techniques?
-
What is meant by a pulse having the zero-ISI property? What must be true of the pulse spectrum in order that it have this property?
-
Use multiplication or division of power series to find the first three nonzero terms in the Maclaurin series for each function. y = e x2 cos x
-
The system in Figure is in equilibrium. A concrete block of mass 225 kg hangs from the end of the uniform strut of mass 45.0 kg. For angles = 30.0? and 0 = 45.0?, find (a) The tension T in the cable...
-
In Figure a 50.0 kg uniform square sign, of edge length L = 2.00 m, is hung from a horizontal rod of length dh = 3.00 m and negligible mass. A cable is attached to the end of the rod and to a point...
-
In Figure a non uniform bar is suspended at rest in a horizontal position by two massless cords. One cord makes the angle = 53.1? with the vertical. If the length L of the bar is 6.10 m, compute the...
-
Question: Part One: Memo Write an analysis of the impact of tax laws and incentives as demonstrated in this current years tax return. Specifically, you must address the following: Explain the...
-
From the following ledger balances, prepare a trial balance for the Cheyenne Corp. at June 3 0 , 2 0 2 2 . All account balances are normal.Accounts Payable $ 1 0 , 0 0 0 , Cash $ 7 , 4 0 0 , Common...
-
Kathy is mixing fruit punch in a 32-cup punch bowl for a party. She plans to add at least 20 cups of fruit juice to the bowl before adding ginger ale. Identify the graph that represents the amounts...
Study smarter with the SolutionInn App