Following information is given 2014 2013 balance sheet items accounts receivable $ 380,000.00 $ 376,000.00 Allowance for
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Question:
Following information is given
2014 | 2013 | ||
balance sheet items | |||
accounts receivable | $ 380,000.00 | $ 376,000.00 | |
Allowance for doubtful accounts | $ (20,000.00) | $ (16,000.00) | |
net accounts receivable | $ 360,000.00 | $ 360,000.00 | |
Inventory | $ 480,000.00 | $ 440,000.00 | |
Income statement items | |||
Sales | $ 3,400,000.00 | $ 3,080,000.00 | |
cost of goods sold | $ 1,600,000.00 | $ 1,440,000.00 | |
operating expenses | $ 780,000.00 | $ 680,000.00 | |
Calculate
(1) 2014 accounts receivable turnover
(2) 2014 inventory turnover
(3) 2014 net margin.
Related Book For
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
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