A company began the year with an Accounts Receivable balance of $260,000, and had a year end balance of $290000 Credt sales of $880,000 generated a gross profit of $130,000 Calculate the receivables turnover ratio for the year (Round your answer to 1 decimal plece) Recelvables tumover tatio times ...

You can see the answer from the photo I sent Formul ...

A company began the year with an Accounts Receivable balance of $260,000, and had a year-end...

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

Question:

Related Book For answer-question

Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

See More Books

Posted Date: Apr 05, 2022 04:57 AM

See More Questions

Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a year-end balance of $220,000. Credit sales of $750,000 generate a gross profit of $250,000. Calculate the...
The company has an accounts receivable balance of $3,000,000 at the end of the year. The company decides that $90,000 of those accounts receivable are uncollectible because the customers associated...
An analysis of the accounts receivable balance of $8,702 on the records of Jorgenson, Inc., on December 31 reveals the following: Accounts from sales of last three months (appear to be fully...
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's anticipated annual volume of 25,600 units. Per Unit Total Direct materials...
At the end of 20X7, the condensed statements of financial position and statements of comprehensive income of Office Plus Corporation and Plus Limited were as they appear below. Intercompany...
To fill an initially empty 275-gal tank with fuel oil requires 12 min. If the flow from the filling nozzle is steady, estimate the velocity of the fuel oil exiting the 20-mm-diameter filling nozzle....
Companies considering purchasing ads during televised XFL football games in the United States are interested in the viewership of games as a way of estimating the exposure their ads get. The file...
Your division is considering two investment projects, each of which requires an up-front expenditure of $15 million. You estimate that the investments will produce the following net cash flows: What...
When Liam Cote decided to help his cousin Felix Cote turn around his business, he had no idea that things were as bad as they were. Liam knew that the bank's loan was coming due and the company could...
The hollow tube assembly rotates about a vertical axis with angular velocity = = 4 rad /s and = = 2 rad /s 2 . A small 0.2-kg slider P moves inside the horizontal tube portion under the control...
George Pharmacy is a pharmaceutical salesman who has been very successful at his job in the last few years. Unfortunately, his family life has not been very happy. Three years ago, his only child,...
Genesis Inc. was formed in 2016. Its current E&P and distributions to shareholders made each year are listed below. What is Genesis Inc.'s year-end accumulated E&P (after the distributions) at the...
Tamara and Tony Mapp, a married couple, report the following items for the year: What is their alternative minimum tax for the year? Taxable income AMT adjustments Tax preferences Regular tax...
We have the following properties for a certain mixture for mixing at constant temperature and pressure: where S i , the pure-component molar entropy of component i, is given by Here S i , U i , and V...
Spherical solid particles containing B are roasted isothermally in an oven with gas of constant composition. Solids are converted to a firm nonflaking product according to the SCM as follows: From...
Verify the lip-lop input equations of the synchronous BCD counter specified in Table 6-9. Draw the logic diagram of the BCD counter with a count enable input. Table 6-9 0 0 Qs Q Q2 Q 8 0 0 0 0 0...
What is the workplace* communication problem that you're analyzing in your final project? Briefly describe it. What is the name of the communication theory that you think applies to your workplace...
Draw the appropriate control flow graph of the given pseudocode.Make sure to only use one number for blocks of code which are all sequential and when the first line is executed, all of those lines...
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances include the following account information: The following information...
Which method, the percentage-of-receivables method or the percentage-of-credit-sales method, is typically used in practice? Why?
What is goodwill and how do we measure it? Can we sell goodwill separately from the business?
Home Inc. (a US company) has a wholly-owned subsidiary, S, which it acquired on 1 January X0. The balance sheets of S as at 1 January X0 and 31 December X0 are as set out in Figure 15.1 in foreign...
An entitys functional currency is: A. The currency of its parents country. B. The currency of its own country. C. The currency in which the financial statements are presented. D. The currency of the...
Entity X based in one country (currency $) bought goods from Entity Y in another country (currency :) for :300,000 on 1 May 20X1. The spot rate on that date was $1 = :1. As at 31 December 20X1, the...

A company began the year with an Accounts Receivable balance of $260,000, and had a year-end...

Question:

Expert Answer:

You can see the answer from the photo I sent Formul... View the full answer

Financial Accounting

Students also viewed these accounting questions