Walnut inc. in order to calculate the accounts receivable turnover ratio. According to its latest annual...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Walnut inc. in order to calculate the accounts receivable turnover ratio. According to its latest annual report (2018), the company booked net sales of $495,761 million, while the opening receivable (net) and the closing receivable (net) stood at $5,835 milion and $5.614 million, respectively. Therefore, calculate the accounts receivable turnover ratio of Wainut Inc. for the year 2018. * In relation to the problem of Walnut Inc. Compute for the collection period of Walnut Inc. using 360 days? Walnut inc. in order to calculate the accounts receivable turnover ratio. According to its latest annual report (2018), the company booked net sales of $495,761 million, while the opening receivable (net) and the closing receivable (net) stood at $5,835 milion and $5.614 million, respectively. Therefore, calculate the accounts receivable turnover ratio of Wainut Inc. for the year 2018. * In relation to the problem of Walnut Inc. Compute for the collection period of Walnut Inc. using 360 days?
Expert Answer:
Related Book For
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
Using the data from E4-26A, calculate the accounts receivable turnover ratio for 2011. On average, how many days does it take Darcys Floor Coverings to collect its accounts receivable? In E4-26A, at...
-
Using the data from E4-39B, calculate the accounts receivable turnover ratio for 2009. On average, how many days does it take Runnels Art Supply to collect its accounts receivable? In E4-39B, At the...
-
The accounts receivable turnover ratio is 8.14, and average net receivables during the period are $400,000.What is the amount of net credit sales for the period?
-
What are two important limitations of the Heckscher- Ohlin theory?
-
DeLong Corporation was organized on January 1, 2017. It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $2...
-
The books of Conchita Corporation carried the following account balances as of December 31, 2025. The company decided not to pay any dividends in 2025. The board of directors, at their annual meeting...
-
Find the positive z-score for which 15% of the distributions area lies between -z and z. Find the indicated z-score.
-
Les Bancroft owns and operates Crown Print Co. During January, Crown Print Co. incurred the following costs in acquiring two printing presses. One printing press was new, and the other was used by a...
-
A fuel cell cooling system is designed to effectively dispel 50 kW per m2 to the environment to maintain a constant internal temperature (800 C). The emissivity and absorptivity of the surfaces on...
-
Oriole Leasing Corporation, which uses IFRS 16, signs a lease agreement on January 1, 2020, to lease electronic equipment to Wai Corporation, which also uses IFRS 16. The term of the non-cancellable...
-
John is interested in constructing a diversified investment portfolio within his monthly budget of $100. As his financial advisor, offer recommendations for achieving diversification while adhering...
-
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn. The implied warranty of merchantability means that all merchants warrant their goods to be...
-
Which of the following factors would affect a buyers reservation price for a given good or service: social influence, the price of the good, or the cost of producing the item?
-
Design a lag-compensator for a unity feedback system with forward transmittance \[ \mathrm{G}(s)=\frac{\mathrm{K}}{(s+1)(s+3)(s+5)} \] to yield the following specifications: (i) peak overshoot \(\leq...
-
Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Land f. To decrease Prepaid Rent b. To decrease Cash g. To increase Notes Payable...
-
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. a. Interest Payable e. Common Stock i. Dividends b. Service Revenue f. Prepaid Insurance j. Unearned...
-
1) For an x-ray tube operating at 40 kV: a) Find Aswi b) Can this radiation be used to excite K and L lines of platinum (Pt). c) At this voltage, gold (Au) will produce (more, less, equal) amount of...
-
The slopes of the tangents at the points where the curve y = x2 - 4x intersects the X-axis is 1) 1 2) +2 3) +3 4) +4
-
(a) What is a budget? (b) How does a budget contribute to good management?
-
What is meant by the term equivalent units of production?
-
Coldplay Corporation incurred the following costs while manufacturing its product. Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000...
-
A thermos flask is an example of isolated system. State True (T) or False (F)
-
In a closed system, mass does not remain constant. State True (T) or False (F)
-
In a reversible process, initial and final states of the system are same. State True (T) or False (F)
Study smarter with the SolutionInn App