Camden Hardware’s credit sales for the year were $320,000. Accounts receivable at the beginning and end of the year were $50,000 and $70,000, respectively. Calculate the accounts receivable turnover ratio and the average collection period for the year.

Q: Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and…

A: Accounts receivable turnover ratio = Net salesAverage Accounts receivable =$1,310,000$67,500=19.49…

Q: Abbot Communications has annual credit sales of $1,800,000 and accounts receivable of $190,000. What…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: For its most recent year a company had Sales (all on credit) of $750,000 and Cost of Goods Sold of…

A: The ratio analysis helps to analyse the financial statements of the business.

Q: Based on the following data for the current year, what is the number of days' sales in receivables…

A: Number of days' sales in receivable = 365/Accounts receivable turnover Accounts receivable turnover…

Q: In October, Z-Mart had $475,000 in net credit sales and $75,000 in accounts receivable. Calculate…

A: The account receivables turnover ratio is calculated as net sales divided by account receivables.…

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Accounts receivable Receivables are payments that have not yet been received. This means that the…

Q: A company has net income of 213,700 a profit margin of 7.1 percent, and an accounts receivable…

A: Net income = 213,700 Profit margin = 7.1% Sales = Net income/Profit margin          = 213700/0.071…

Q: A company has net sales on account of $1,750,000. Net accounts receivable at the beginning of the…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: Swiss Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning…

A: Income statement: The income statement is one of the three primary financial statements used to…

Q: Abaca Company's accounts receivable is P240,000 at the beginning of the year and 280,000 at the end…

A: 1. 6× means 6 times. Accounts Receivables turnover ratio is 6               times.  2. Total Sales…

Q: Winsor Clothing Store had a balance in the Accounts Receivable account of $760,000 at the beginning…

A: Solution:- Given, Winsor Clothing Store had a balance in the Accounts Receivable account at…

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: Your company had net sales of $100,000 over the past year. One quarter of the sales were credit…

A: Net Sales = 100,000 One quarter were credit sales Credit Sales = Net Sales / 4 = 100,000 / 4 =…

Q: Sheridan Clothing Store had a balance in the Accounts Receivable account of $460000 at the beginning…

A: Opening account receivable (A) = $ 460,000 Closing account receivable (B) = $ 450,000 Net credit…

Q: Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The…

A: Allowance for doubtful accounts means where we expect some debts to become bad in near future then…

Q: Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a…

A: Accounts receivable turnover analyzes the number of times accounts receivables is collected and…

Q: Maloney Company had net credit sales during the year of $1,200,000 and cost of goods sold of…

A: Accounts receivable turnover: Accounts receivable turnover is a liquidity measure of accounts…

Q: JKL Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending…

A: Average Collection Period: In terms of Accounts Receivable, the average collection time of the…

Q: A firm has sales of $1.6 million, and 25 percent of the sales are for cash. The year-end accounts…

A: Average collection period is the time taken by the company to collect the funds from its…

Q: The financial statements of the Splish Brothers Inc. reports net sales of $360000 and accounts…

A: The average collection period seems to be the length of time it requires for a company to obtain…

Q: y has net sales of 1,630,200 an

A: The accounts receivable turnover ratio,   also known as the debtor’s turnover ratio, is an…

Q: accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How…

A: Calculate the number of days to realize Account receivable as follow: Number of days required = 365…

Q: During the year Tulip reported net sales of $960,000. The company had accounts receivable of $75,000…

A: Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable)/2…

Q: Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the…

A: Solution..   Net credit sales = $6,500,000  Beginning accounts receivable = $600,000  Ending…

Q: Sheridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000.…

A: Average Accounts Receivables = (Beginning Accounts Receivables  + Ending Accounts Receivables ) /2 =…

Q: The Nicholas Company had net sales on account of $6,570,000 during 1998. The beginning and ending…

A: Given the following information: Net credit sales: $6,570,000 Beginning accounts receivables:…

Q: ord Corporation had net credit sales during the year of $1116550 and cost of goods sold of $448000.…

A: Average Accounts Receivables = (Beginning Accounts Receivables  + Ending Accounts Receivables ) /2…

Q: For its most recent year a company had Sales(all on credit) of $830,000 and Cost of Goods Sold of…

A: Days of account receivables helps to understand how many days are required by the firm to clear its…

Q: heridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000.…

A: The correct answer is as fallows

Q: Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales…

A: The number of days sales in receivable indicates the number of days the credit sales converted into…

Q: Based on the following data for the current year, what is the accounts receivable turnover?   Net…

A: Given the following information: Net sales on account during year: $500,000 Cost of merchandise…

Q: Calculate Debtors Turnover Ratio and Average Collection Period (in days) from the following.…

A: We have the following information: Total Sales: Rs.6,00,000 Cash Sales: 20% of Total sales Trades…

Q: A company has annual sales of $5,210,000 and its average daily accounts receivable is $377,000. What…

A: given that, annual sales = $5210000 average daily accounts receivables = $377000 365 days per year…

Q: Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the…

A: A ratio that provides information regarding the company’s efficiency to collect their accounts…

Q: The financial statements of the Sunland Company report net sales of $384000 and accounts receivable…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: Calculating the Average Collection Period Trout Lumber Yard has a current accounts receivable…

A: Given, Accounts receivable = $527,164 Total credit sales = $6,787,626 Number of days in a year = 365…

Q: A company has net income of $182,000, a profit margin of 9.90 percent, and an accounts receivable…

A: Days sales in receivables = Accounts receivable/credit sales *365

Q: A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Calculate accounts receivable turnover:

Q: For its most recent year a company had Sales (all on credit) of $830,000 and Cost of Goods Sold of…

A: Inventory  turnover  ratio = cost of goods sold/Average  Inventory

Q: Wildhorse Co. had net credit sales during the year of $1223200 and cost of goods sold of $712000.…

A: ACCOUNTS RECEIVABLE TURNOVER :  = NET CREDIT SALES /  (OPENING RECEIVABLES + CLOSING RECEIVABLES / 2…

Q: Rayhan Company has an average collection period of 55 days. The annual sales is 8,500,000. What is…

A: The average collection period indicates the period between the sale and collection/ receipt of money…