Recent financial statements of Marin Ship Builders, Inc. report net sales of $636,800,000. Accounts receivable are $65,700,000 at the beginning of the year and $87,900,000 at the end of the year. (Round answers to 2 decimal places, e.g. 50.27. Use 365 days for calculation.) Compute Marin's accounts receivable turnover. Accounts receivable turnover times Compute Marin's average collection period for accounts receivable in days. Average collection period for accounts receivable days

Recent financial statements of Marin Ship Builders, Inc. report net sales of $636,800,000. Accounts receivable are $65,700,000 at the beginning of the year and $87,900,000 at the end of the year. (Round answers to 2 decimal places, e.g. 50.27. Use 365 days for calculation.) Compute Marin's accounts receivable turnover. Accounts receivable turnover times Compute Marin's average collection period for accounts receivable in days. Average collection period for accounts receivable days

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...

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The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory turnover in days.
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