Company Abel has total sales of $375,000, of which, $125,000 represents cash sales. Its annual average accounts receivable balance is $42,000. What is its accounts receivable turnover in terms of the number of turns? a. 5.95 turns b. 2.97 turns c. 8.92 turns d. 3.0 turns

Q: The financial statement of Minnesota Mining and Manufacturing Company ( 3M ), report net sales of…

A: Account Receivable Turnover =  Net Credit Sales Average Account Receivable Net Credit Sales = Total…

Q: Newark Company has provided the following information: • Cash sales, $640,000 • Credit sales,…

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year…

A: Accounts Receivable Turnover represents the efficiency of the company to convert its Accounts…

Q: Nock Inc. has a Days Inventory Outstanding of 13, an Accounts Receivable $128, an Average Sales per…

A: Cash Conversion Cycle is a method used by the management and it can be calculated as follows, =Days…

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: If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average…

A: Given: Annual sales = $83,000 Average accounts receivables = $25,000

Q: Skylark Industries has P6,000,000 in inventory and P3,000,000 in accounts receivable. The company…

A: Cash flows are the cash generated from the operation of the business organisation. In other words,…

Q: Mifflin Co. reported the following for the current year: net sales of $60,000; cost of goods sold of…

A: Financial ratio: It can be defined as the relative magnitude of two selected financial values taken…

Q: A company reports the following Infommation for the year. Net credit sales $110,000 12,000 98,000…

A: Receivables turnover Ratio: The receivable turnover ratio is a kind of measuring ratio how the is…

Q: A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable…

A:

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: Assuming 77 percent of sales are on credit, what is the company's days' sales in receivables?

A: Information Provided: Net Income = $191,000 Profit Margin = 9.10% Accounts Receivable = $106,919…

Q: JPJ Corp has sales of $1.11 million, accounts receivable of $52,000, total assets of $5.12 million…

A: Here, Sales is $1,110,000 Accounts Receivable is $52,000 Total Assets is $5,120,000 Fixed Assets is…

Q: Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

A: Assuming a 365-day year, how long (in average days) does the collectibles from customers stay as…

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: Wall Corporation’s books disclosed the following information as of and for the year ended December…

A: Accounts receivable turnover is a measure how effectively the company is able to collect its…

Q: At the end of the fiscal year, Big Box Depot had account receivables of $1.89 billion on net sales…

A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

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: If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average…

A: Sales = $83000 Account payable = $30000 Accounts receivable = $25000

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: Lipovetsky Corp. has the following data relating to accounts receivable at the end of the current…

A: The net realizable value for accounts receivable is calculated as gross account receivables minus…

Q: If we know that for the year 2010 Johnson's Company had Cost of goods sold = 600,000 USD and Sales…

A: Given that,  Sales (on credit) = 850,000 USD Opening accounts recievables = 75,000 USD Closing…

Q: Falafel Hut has sales of $512,630. The cost of goods sold is equal to 60 percent of sales. The…

A: The accounts receivable are the current assets of the company. The increase in the credit sales or…

Q: Pepperdine reported net sales of $8,500 million, net income of $126 million and average accounts…

A: Accounts receivables: It refers to the money that is due and to be received from the buyers on the…

Q: Newark Company has provided the following information: • Cash sales, $450,000 • Credit sales,…

A: Total sales is the sum of sales made both in cash and on credit. It is reduced by the amount of…

Q: Blue Air Inc., has net sales of $735,000 and  accounts receivables of $164,000. What are the firm's…

A: Accounts Receivables Turnover Ratio measures the efficiency of the company in collecting receivables…

Q: Karen company's net accounts receivable were P430,000 on December 31, 19x8 and P480,000 on December…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year…

A: Here, receivable turnover ratio is calculated by dividing net credit sales with the average account…

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: Crane Corp.currently has accounts receivable of $1,093,000 on net sales of $7,334,000. What are its…

A: The computation of accounts receivable turnover ratio: Hence, the accounts receivables turnover…

Q: Marbel had $4,448 million in sales and $1,218 million in ending accounts receivable for the current…

A: Note: Day's sales uncollected determines the no. of days a company take to collect its receivable on…

Q: A company has net income of $196,000, a profit margin of 10.00 percent, and an accounts receivable…

A: The question is based on the concept of ratio analysis.

Q: The balance in Accounts Receivable at the beginning of the year was $520,000. The balance in…

A: Credit sales is a term in which the goods is transferred to the customer on a credit basis. In which…

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 has net sales of $489,600 and average accounts receivable of $40,800. What is its accounts…

A: Given information is: A company has net sales of $489,600 and average accounts receivable of…

Q: favorable

A: Accounts receivable turnover is a type of financial ratio which is calculated by organizations to…

Q: Flying Tigers, Inc., has net sales of $722,000 and accounts receivables of $152,000. What is the…

A: accounts receivables turnover=net salesaccounts receivables

Q: Libscomb Technologies' annual sales are $6,997,444 and all sales are made on credit, it purchases…

A: Receivables turnover = Net credit sales / Average Receivables

Q: Blue Air Inc., has net sales of $767,000 and accounts receivables of $162,000. What are the firm's…

A: We have the following information: Net Sales: $767,000 Accounts Receivables: $162,000