Financial statement data for years ending December 31 for Robinhood Company follow: 20Υ9 20Υ8 Sales $7,906,000 $6,726,000 Accounts receivable: Beginning of year End of year 600,000 540,000 580,000 600,000 (Continued) a. Determine the accounts receivable turnover for 20Y9 and 20Y8. b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round to one decimal place. c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 20Y9 indicate a favorable or unfavorable change?
Financial statement data for years ending December 31 for Robinhood Company follow: 20Υ9 20Υ8 Sales $7,906,000 $6,726,000 Accounts receivable: Beginning of year End of year 600,000 540,000 580,000 600,000 (Continued) a. Determine the accounts receivable turnover for 20Y9 and 20Y8. b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round to one decimal place. c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 20Y9 indicate a favorable or unfavorable change?
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.5P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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