The following financial statement data are for Ridge Road Company. For 2007 and 2008, compute: (a) Accounts
Question:
The following financial statement data are for Ridge Road Company.
For 2007 and 2008, compute:
(a) Accounts receivable turnover
(b) Average collection period
(c) Fixed asset turnover
Use the average of the beginning and ending asset balances in computing the ratios.
Transcribed Image Text:
2008 2007 2006 Sales Accounts receivable (net) Property, plant, and equipment (net) $140,000 05.000 $80,000 30,000 25,000 0,000 05,000 80,000 89,000
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a 2008 2007 Sales 140000 105000 Net receivables Beginning of year 25000 10000 End of yea...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 978-0324312140
16th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
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