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oblem 5 CCOUNTS RECEIVAE counts receivable: Average accou Net credit sale

oblem 5 CCOUNTS RECEIVAE counts receivable: Average accou Net credit sale

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
Section: Chapter Questions
Problem 4SEA: FINANCIAL RATIOS Based on the financial statements foe Jackson Enterprises (income statement,...
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d. . TimeS mter camed, e. Earnings per share3; f. Price/earnings ratio; and g. Book value per share. Problem 5 ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: 20X2 20X1 Average accounts receivable $ 400,000 $ 416,000 Net credit sales $2.600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day уear. Problem 6 INVENTORY. On January 1, 20X6, the River Company's beginning inventory $400,000. During 20X6, River purchased $1,900,000 of additional inventory. On December 31, 20X6, River's ending inventory was $500,000.
Transcribed Image Text:d. . TimeS mter camed, e. Earnings per share3; f. Price/earnings ratio; and g. Book value per share. Problem 5 ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: 20X2 20X1 Average accounts receivable $ 400,000 $ 416,000 Net credit sales $2.600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day уear. Problem 6 INVENTORY. On January 1, 20X6, the River Company's beginning inventory $400,000. During 20X6, River purchased $1,900,000 of additional inventory. On December 31, 20X6, River's ending inventory was $500,000.
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