A company reports the following: Sales .........................................................................$1,460,000 Average accounts receivable (net)........................... 100,000 Determine (a) The accounts receivable
Question:
A company reports the following:
Sales .........................................................................$1,460,000
Average accounts receivable (net)........................... 100,000
Determine
(a) The accounts receivable turnover
(b) The number of days’ sales in receivables.
Round to one decimal place
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 72% (11 reviews)
a Accounts receivable turnove...View the full answer
Answered By
DINESH KUMAR
I have graduated as Management Accountant along with Master’s Degree in Accounting and Finance from University of North Texas and have more than three years of working experience in the industry. I excel in tutoring diverse areas of Finance and Accounting including, Advance Accounting, Simple Income Tax, Cost Accounting, Managerial Accounting, Advanced Corporate Accounting and Computerized Accounting, Financial accounting, Principal of accounting, Financial management accounting, Intermediate accounting, Essentials of Accounting, Financial Statement Analysis, Introduction to Financial Accounting, and more. I provide complete step by step solution and also work with excel. My software knowledge comprises of QuickBooks, Tally ERP, Net Suite ERP, and, Xero. I always discuss the needs of my new students very carefully and aim to give them a professional work in the subject. I also provide online assistance in my subject line. I have a genuine interest in the accounting field and about to pursue a doctorate sooner
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 9781337913102
16th Edition
Authors: Carl S. Warren, Christine Jonick, Jennifer Schneider
Question Posted:
Students also viewed these Business questions
-
A company reports the following accounts on its classified balance sheet: Additional paid in capital ...... Accounts receivable Land .............. Bonds payable, due in 10 years Treasury stock...
-
A company reports the following information from its financial statements: Required Conduct horizontal and vertical analyses of inventory for the current year. Round percentages to one decimal point...
-
A company reports the following operating cash flows on its statement of cash flows (in millions): Required Identify whether the following account balances increased or decreased during the year: (a)...
-
Assume that a company is going to invest 900,000 USD in a new project. We expect that the invested capital in the fixed assets will be fully depreciated within 3 years in a linear way. The project is...
-
Jan Wei owns a cycle store that sells equipment, clothing, and other accessories. During the month of June, the following activities occurred: 1. The business earned $30,000 from the sale of...
-
Goodwill Ltd. Supplies you the following balance sheets on 31st December 2011 and 2012 2011 Rs Liabilities Share capital Bonds Accounts Payable Provision Doubtful Debts Reserve surplus for and 70,000...
-
How have minority ethnic groups been integrated into nation states?
-
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Total sales revenue . . . . . . . . . . . . . . . ....
-
Presented below is information related to Blowfish radios for the Concord Company for the month of July Date Transaction Units In Unit Cost Total Units Sold Selling Price Total July 1 Balance 150...
-
A young woman named Seema (22) succumbed to injuries at a private hospital inGuwahati on 1st June, 2013 due to multiple organ failure as she had developedsevere health issues due to swallowing acid....
-
Kroger, a grocery store chain, recently had a price-earnings ratio of 7.6, while the average price-earnings ratio in the grocery store industry was 18.6. What might explain this difference?
-
Ken Jones, an architect, opened an office on April 1, 20Y4. During the month, he completed the following transactions connected with his professional practice: a. Transferred cash from a personal...
-
Determine the number of significant figures in the following measurements: a. 0.0009 b. 15,450.0 c. 6 10 3 d. 87.990 e. 30.42
-
Calculate the cost of debt. Calculate the cost of equity. Calculate the weight on debt and equity. Calculate the WACC.
-
The County of Maxnell decides to create a waste management department and offer its services to the public for a fee. As a result, county officials plan to account for this activity as an enterprise...
-
An 126 m long optical fiber is made of a material with index of refraction equal to 2.34. How long does it take to transmit a light signal through this optical fiber (in s)? Speed of light in vacuum...
-
Deacon Company is a merchandising company that is preparing a budget for the three - month period ended June 3 0 th . The following information is available Deacon Company Balance Sheet March 3 1...
-
During Heaton Company's first two years of operations, it reported absorption costing net operating Income as follows: Sales (@ $64 per unit) Cost of goods sold (@ $35 per unit) Gross margin Selling...
-
At the end of the year, City side Properties' statement of cash flows reported the following for investment activities: ¢Cost $5,100,000; Accumulated depreciation, $3,691,000. Requirement For...
-
Suppose the index goes to 18 percent in year 5. What is the effective cost of the unrestricted ARM?
-
Using the bond from Practice Exercise 14-3B, journalize the first interest payment and the amortization of the related bond discount. Round to the nearest dollar. Data from Exercise 14-3B, On the...
-
The following financial data (in thousands) were taken from recent financial statements of Office Depot, Inc.: 1. Determine the times interest earned ratio for Staples in Year 3, Year 2, and Year 1?...
-
Favreau Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Favreau Corporation issued $35,000,000 of five-year, 7% bonds at a market (effective) interest rate of...
-
Answer the following questions with respect to the following Strategy pattern diagram as illustrated below 3. The relationship between StudentToSchool class and Strategy and actors with strategy?...
-
a) Design a simple relational database that captures the information required to maintain records of orders. Take into account that your design should allow a customer to order as many items as...
-
Write a procedure named AVG in assembly language which calculates and returns the average of three memory operands. Also show how this procedure will be called from main. Pass arguments (variable...
Study smarter with the SolutionInn App