During the year ended 31 March 2019, a business made sales of GH₵ 560,000 of which 25% were for cash. The trade receivables at 31 March 2018 were GH₵ 52,000 and at 31 March 2019 they were GH₵56,000. What is the trade receivables turnover based on average trade receivables?

Q: On January 1, 2020, the balance of accounts receivable of Ortega Company was P5,000,000 and the…

A: There are 2 methods for estimating bad debt expense: 1. Percentage of sales method 2. Percentage of…

Q: Following is the list of balance for Amarillo as at 31 December 2020   Trade receivables…

A: Financial statement is prepared from the trial balance which include :- Profit and loss and…

Q: At the beginning of 2019, Blue Devil Inc. had net Accounts Receivable of $49,000. At the end of…

A: Quick ratio: The financial ratio which evaluates the ability of a company to pay off the instant…

Q: The following information relates to a business for the year ended 31 December 2019: Trade…

A: Receivable ledger control account means an account where all entries related with credit sales and…

Q: In the year 2020 LNG company had a net sale of RO19,800 million for the year of which RO17600 are…

A: The average collection period is the average number of days between the date of credit sale and the…

Q: ABC company's records included the following, assume 365 days in a year: Accounts Receivable,…

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

Q: Based on the following transactions, what is the total revenues for 2020?   Cash sales of…

A: Cash Sales in 2020 =  ₱ 1,000,000 Add:- Cash Received in 2020 = ₱ 4,500,000 Total Revenue = ₱…

Q: In 2021 Waterway Co. had credit sales of $1890000 and sales returns and allowances related to these…

A: Debtors collection period: The average time it takes for a firm to recover money owing to it by its…

Q: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales…

A: Formulas: Accounts receivable turnover ratio = Credit Sales / Average accounts receivables   Working…

Q: 5. Blige Corporation had sales revenue of $12,000,000 in 2019 and $15,000,000 in 2020. Accounts…

A: Financial manager has to manage various financial aspects of the company. One of the major areas is…

Q: Wickes Ltd has the following figures at December 2020 £ Revenue(90% credit sales) 1,936,000 Opening…

A: Given, Revenue (90% credit sales) = £1,936,000 Trade Receivable = £237,810

Q: X Corp. reported the following data for 2017. Total net sales – P4,000,000; Goods purchased –…

A: X Corp.'s for 2017 : 1. Net sales = P4000000 Goods purchased = P2400000 Beginning inventory =…

Q: DJ Company’s net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of…

A: The count of the number of times a company earns its total accounts receivable in under a year is…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Accounts receivable turnover ratio = Net Credit Sales / Average Accounts Receivables Sales in…

Q: You are given the following information relating to Exodus Trading: Gross profit rate based on cost…

A: Cost of Goods Sold = Cost of Goods Available for Sale in 2022 - Merchandise Inventory as on Dec 31,…

Q: The following data exists for Sandhill Company.     2020   2019   Accounts Receivable   $60,000…

A: Solution: Average accounts receivables for 2020 = ($60,000 + $84,000) / 2 = $72,000 Accounts…

Q: On January 1, 2019, Easy Company reported accounts receivable P2,070,000 and allowance for doubtful…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Suppose the following information was taken from the 2022 fınancial statements of FedEx Corporation,…

A: Account receivable turnover indicates the rate of collection of accounts receivable in a year.

Q: The following information was extracted from ABC Ltd’s financial statements for the year ended 31…

A: Budgeting: It is a process of planning the work to be performed. Under this process a formal plan is…

Q: Frederick, a wholesaler, has the following information relating to the year ended 31 March 2020: (a)…

A: Account receivable means the amount due from customer whom we sold the goods on credit. Allowance…

Q: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning…

A: Accounts receivable turnover ratio is a type of activity ratio, which is defined as the measurement…

Q: The following data are taken from the financial statements of Sheffield Company. Accounts receivable…

A: As per the given information: 20222021Accounts receivable (net), end of year$555,000$470,000Net…

Q: Based on the following data, what is the accounts receivable turnover? Sales on account during year…

A: Accounts receivable turnover is the ratio of average accounts receivable divided by net credit sales…

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: compute the total income subject to income tax

A: 1. Net sales = P4000000 Goods purchased = P2400000 Beginning inventory = P400000 Ending inventory =…

Q: Bolton Merchandising had cash and cash equivalents at January 1, 2019 of P400,000. The operating…

A: The cash flow statement is one of the financial statements of the business, which is prepared to…

Q: NG has the following financial data as of December 31, 2019: Gross sales = P250,000.00 Sales…

A: Accounts receivable turnover ratio is calculated by dividing  days in a year by average collection…

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: Accounts Receivable Turnover and Average Collection Period  The Outback Corporation disclosed the…

A: Requirement 1:   Compute the accounts receivable turnover ratio for 2018.

Q: Determine the managerial balance sheet for the FY 2021.

A: Answer

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: 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: Suppose the following information was taken from the 2022 financial statements of FedEx Corporation,…

A: Accounts receivable turnover [in times] = Credit sales for 2022 / Average net accounts receivable…

Q: At 30 June 2018 a company’s allowance for receivables was £39,000 At June 2019, trade receivables…

A: P&L statement is the financial system about revenues and expenses incurred during a period of…

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: In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account…

A: Average Receivable Turnover = Credit Sales/Average Accounts Receivable Average Receivable in Days =…

Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales…

A: Accounts receivables are accounts of those customers to whom business has made credit sales on…

Q: Jackson, Inc. had net sales of $900,000 during 2019. On January 1, 2019, Jackson's accounts…

A: Solution: Average accounts receivable = (Beginning +ending) / 2 = (160000 + 200000) / 2 = $180,000

Q: if the net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts…

A: it indicates the efficiency of the management because the greater the ratio the better the…

Q: In 2020, HK company has net credit sales of 925,000S for the year. It had a beginning account…

A: Solution:- Calculation of Accounts receivable turnover ratio as follows:- The following formula used…

Q: Von Company had the following data relating to its Accounts Receivable: Accounts Receivable,…

A: Accounts Receivable, December 31, 2020  = Accounts Receivable, December 31, 2019 + 2020 credit sales…

Q: Suppose the following information was taken from the 2022 financial statements of FedEx Corporation,…

A: Days in collection of account receivable means the number of days which we take to recover the…

Q: A company reports the following data relative to accounts receivable: Average accounts receivable of…

A: The accounts receivable turnover ratio is the ratio that measures the net credit sales as a multiple…

Q: Blige Corporation had sales revenue of $12,000,000 in 2019 and $15,000,000 in 2020. Accounts…

A: Ratios are the measures of performance of the items of the statement of profit & loss and…

Q: DJ Company's net accounts receivable were P250,000 as of December 31, 2019, and P300,000 as of…

A: Formula: Accounts receivable turnover = Net credit sales / Average accounts receivable Average…

Q: The following information was extracted from ABC Ltd’s financial statements for the year ended 31…

A: Cash forcasting is a plan that shows flow of cash in and out of organisation. It shows the future…

Q: What is the gross margin ratio of Company B? How much purchases did Company A have for 2021? What is…

A: For company to generate profit operating margin it need to consider all the factors which are…

Q: Company A's net credit sales in 2020 and 2021 are 21115 and 35118 respectively. Cost of sales in…

A: To calculate cash collections from customers in 2021, we will prepare accounts receivable ledger and…

Q: At December 31, 2021, Carla Vista Imports reported this information on its balance sheet. Accounts…

A: The question is based on the concept of Accounting Ratios.

Q: 5. Blige Corporation had sales revenue of $12,000,000 in 2019 and $15,000,000 in 2020. Accounts…

A: Accounts Receivable Turnover Ratio is also known as Debtors…