1. following information is taken from the annual report of B&B: (in thousands) Year 2 Year...
1. following information is taken from the annual report of B&B:
|
(in thousands) |
Year 2 |
Year 1 |
|
Net sales |
$200,000 |
$145,200 |
|
Accounts receivable, net |
20,000 |
16,400 |
How much is the accounts receivable turnover ratio for Year 2?
- 8.0
- 13.1
- 11.8
- 10.0
2. The following information is taken from the annual report of B&B:
|
(in thousands) |
Year 2 |
Year 1 |
|
Net sales |
$160,000 |
$105,200 |
|
Accounts receivable, net |
20,000 |
15,000 |
What is the receivable collection period for Year 2?
- 46 days
- 12 days
- 8. days
- 50 days
Homework Answers
1.accounts receivable turnover ratio for Year 2=Net sales/Net AR
=200,000/20,000
=10
2.receivable collection period for Year 2=(Net AR/Net sales)*365
=(20,000/160,000)*365
=46 days(Approx)
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