A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts

Question:

A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts receivable turnover?

a. 0.08

b. 30.41

c. 1,341.00

d. 12.00

e. 111.78

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial And Managerial Accounting

ISBN: 9781260728774

9th Edition

Authors: John J. Wild

See More Books

Question Posted: Jan 16, 2024 04:00 AM

See More Questions

A company has net sales of $825,000 and cost of goods sold of $547,000. Its net income is $98,500.What will be the company's gross profit and operating expenses?
A company has net sales on account of $ 1,750,000. Net accounts receivable at the beginning of the year are $147000 and at the end of the year are $153000. The days' sales in average receivables are:...
A company has net sales of $1,200,000 and average accounts receivable of $400,000. What is its accounts receivable turnover for the period? A. 0.20. B. 5.00 C. 20.0 D. 73.0 E. 3.0
Midland Corporation has a net income of $19 million and 4 million shares outstanding. Its common stock is currently selling for $48 per share. Midland plans to sell common stock to set up a major new...
Stan Conner and Mark Stein were discussing the presentation format of the statement of cash flows of Bombeck Co. At the bottom of Bombecks statement of cash flows was a separate section entitled...
Customer profitability and ethics. Snark Corporation manufactures a product called the snark, which it sells to merchandising firms such as Snark Republic (SR), Snarks-R-Us (SRU), Neiman Snark-us...
Explain induced drag and how the pilot changes it during flight.
Value proposition, CVP analysis, fixed costs, and opportunity costs Nordstrom, Inc. (http:/ /www.nordstrom.com) and Saks Fifth Avenue (http:/ /www.saksfifthavenue.com) are upscale retailers. Using...
Use logarithmic differentiation to find the derivative of y with respect to the given independent variable. y = (sin 8x)x
Prepare journal entries to record the following transactions of Namco. April 1 Accepted a $5,000, 90-day, 4% note from Travis in granting a time extension on his past-due account receivable. June 30...
A company receives a $9,000, 8%, 60-day note. The maturity value of the note is a. $120. b. $9,000. c. $9,120. d. $720. e. $9,720.
Most "cell phones" today are more than cell phones-they are mini-computers on which you check your e-mail and surf the Web. Suppose the BLS treated them as old-fashioned cell phones. How would this...
When would a time and materials (T\&M) contract be used?
What considerations should be taken into account when contracting in a Scrum (Agile) project?
What are some benefits of outsourcing? When is outsourcing likely to be used in a project context?
Why is it important to review supplier and contractor performance?
Explain the activities in relation to benefits that occur across the project life cycle.
An airplane is flying with a velocity of 240 m/s at an angle of 30.0° with the horizontal, as the drawing shows. When the altitude of the plane is 2.4 km, a flare is released from the plane. The...
The unadjusted trial balance of Secretarial Services is as follows: SECRETARIAL SERVICES Unadjusted Trial Balance as at 31 December 2017 Account Debit Credit Cash at bank Office supplies Prepaid...
On January 1, 2016, a company agrees to pay $20,000 in three years. If the annual interest rate is 10%, determine how much cash the company can borrow with this agreement.
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $70,000 cash and office equipment valued at...
Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations. May 1 G. Gram invested $40,000...
What is the total job cost for job P951? Dehner Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor-hours. The company based its...
Walsh Company manufactures and sells one product. The following information pertains to each of the company's first two years of operations: Variable costs per unit: Manufacturing: Direct materials...
Case Study: company structure The company operates with a hierarchical structure comprising multiple departments (name, DepartmentID address), each dedicated to specific responsibilities. Within each...

A company has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts

Question:

Step by Step Answer:

d 4...View the full answer

Financial And Managerial Accounting

Students also viewed these Business questions