Homework Answers
The right answer choice is “Dividing the accounts receivables by net sales and multiplying by 365”
The number of days sales uncollected is calculated by using the following formula
The number of days sales uncollected = [Accounts receivables / Net Sales] x 365 Days
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Multiple Choice 0 Dividing ac accounts receivable by net sales. 0 Dividing accounts receivable by net...
16 Quick assets divided by current liabilities is the: Multiple Choice Acid-test ratio. Current ratio. Working...
16 Quick assets divided by current liabilities is the: Multiple Choice Acid-test ratio. Current ratio. Working capital ratio. Current liability turnover ratio. Quick asset turnover ratio. 17 Net sales divided by Average accounts receivable, net is the: Multiple Choice Days' sales uncollected. Average accounts receivable ratio. Current ratio. Profit margin. Accounts receivable turnover ratio. 18 Dividing Accounts receivable, net by Net sales and multiplying the result by 365 is the: Multiple Choice Profit margin. Days' sales uncollected. Accounts receivable turnover...
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine...
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end...
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net)...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
The following annual account balances are from Armour Sports at December 31. Accounts receivable Net sales...
The following annual account balances are from Armour Sports at December 31. Accounts receivable Net sales Year 2 Year 1 $ 10,753 $ 53,735 143,015 624,463 Complete the below table to calculate the number of days' sales uncollected for the years Year 1 and Year 2. (Round your "Days' Sales Uncollected" to 1 decimal place.) Choose Numerator: Days' Sales Uncollected Choose Denominator: 1 Days 1 X Year 2: Year 1: 1 1 Days' Sales Uncollected Days' sales uncollected days days...
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its...
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its accounts receivable turnover equals: Multiple Choice 8.61 012 0.10 0.82 10.51 A company borrowed $28,000 by signing a 180-day promissory note at 6 %. The maturity value of the note is: (Use 360 days a year.) Multiple Choice $33,740.00 $34,020.00 $28,840.00 $34,860.00 $35,280.00 The amount due on the maturity date of a $11,200, 90-day 7 % , note receivable is: (Use...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net),...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co....
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co. had net sales of $4.2 million and ending accounts receivable of $0.8 million. Its days' sales uncollected equals: Multiple Choice * 53 days int onces 695 days o 19.2 days
Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10,...
Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, 1/45 2020 $570,000 3,940,500 2019 $495.000 3,053,500 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $490,000. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Accounts receivable turnover times times LINK TO TEXT Compute for each year the average collection period. At the end of 2018, accounts receivable was $490,000. (Use 365 days for calculation....
Exercise 8-12 Liquid assets and accounts receivable LO A1 Barga Co. reported net sales for 2016...
Exercise 8-12 Liquid assets and accounts receivable LO A1 Barga Co. reported net sales for 2016 and 2017 of $669,000 and $745,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2016, $55,000; and December 31, 2017, $88,000. a. Complete the below table to calculate the days' sales uncollected at the end of each year. (Round your "Days' Sales Uncollected" answer to 1 decimal place.)
Accounts Receivable Analysis A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables, Round interim calculations to the nearest dollar and final answers to one dedmal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Net Sales Cost of goods sold Average accounts receivable for the year Accounts receivable at year-end Average inventory for the year Inventory at year-end $1,095,000 657,000 44,250 18,000 226,000 158,400 Required: a. Calculate the inventory turnover for 2019. (Round your answer to 2 decimal places.) b. Calculate the number of days' sales in inventory for 2019, using year-end inventories. (Use 365 days a year. Round your answer to 1 decimal place.) c. Calculate the accounts receivable turnover for 2019. (Round...
Accounts Receivable Analysis A company reports the following Sales $649,700 64,970 Average accounts receivable (net) Determine (a) the accounts receivable tumover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dolar and find answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables d ays
The following annual account balances are from Armour Sports at December 31. Accounts receivable Net sales Year 2 Year 1 $ 10,753 $ 53,735 143,015 624,463 Complete the below table to calculate the number of days' sales uncollected for the years Year 1 and Year 2. (Round your "Days' Sales Uncollected" to 1 decimal place.) Choose Numerator: Days' Sales Uncollected Choose Denominator: 1 Days 1 X Year 2: Year 1: 1 1 Days' Sales Uncollected Days' sales uncollected days days...
A company had net sales of $680,000, total sales of $830,000, and an average accounts receivable of $79,000. Its accounts receivable turnover equals: Multiple Choice 8.61 012 0.10 0.82 10.51 A company borrowed $28,000 by signing a 180-day promissory note at 6 %. The maturity value of the note is: (Use 360 days a year.) Multiple Choice $33,740.00 $34,020.00 $28,840.00 $34,860.00 $35,280.00 The amount due on the maturity date of a $11,200, 90-day 7 % , note receivable is: (Use...
The following data are taken from the financial statements: Average accounts receivable (net) Accounts receivable (net), end of year Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 Sales on account a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year...
Help Save & Exit Submit TB MC Qu. 06-90 Freeman Co. had net sales... Freeman Co. had net sales of $4.2 million and ending accounts receivable of $0.8 million. Its days' sales uncollected equals: Multiple Choice * 53 days int onces 695 days o 19.2 days
Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, 1/45 2020 $570,000 3,940,500 2019 $495.000 3,053,500 Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $490,000. (Round answers to 1 decimal place, e.g. 1.6.) 2020 2019 Accounts receivable turnover times times LINK TO TEXT Compute for each year the average collection period. At the end of 2018, accounts receivable was $490,000. (Use 365 days for calculation....
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