Sheridan Company had net credit sales during the year of $1047750 and cost of goods sold of $484000. The balance in accounts receivable at the beginning of the year was $110400 and at the end of the year was $143600. What was the accounts receivable turnover

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Number of days sale in receivable means how much time will the debtor takes to clear his dues. First…

Q: A company reports the following: Sales $399,675 Average accounts receivable (net) 54,750 Determine…

A: Accounts receivable turnover is computed by dividing the sales with the average accounts receivable…

Q: The financial statements of the Pina Colada Co report net sales of $408000 and accounts receivable…

A: Accounts Receivable is the amount of money the company will get by way of credit sales.

Q: Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and…

A: Accounts receivable turnover ratio = Net salesAverage Accounts receivable =$1,310,000$67,500=19.49…

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

A: Accounts receivable turnover indicates the efficiency of the business entity to collect its accounts…

Q: Diviney Corporation's net sales and average net trade accounts receivable were $8,710,000 and…

A: Accounts Receivable Turnover = Net Sales/ Avg. Accounts Receivables

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Accounts receivable Receivables are payments that have not yet been received. This means that the…

Q: A company has net sales on account of $1,750,000. Net accounts receivable at the beginning of the…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

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

A: PLEASE LIKE THE ANSWER, YOUR RESPONSE MATTERS    formula = Average accounts receivable = (Accounts…

Q: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are…

A: Accounts receivable turnover = Credit Sales/ Average Accounts receivable Number of days' sales in…

Q: Based on the following data for the current year, what is the number of days' sales in receivables?…

A: Ratio analysis means where different ratio of various years of years companies has been compared and…

Q: The financial statements of the Sunland Company reports net sales of $438450 and accounts receivable…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: Sheridan Clothing Store had a balance in the Accounts Receivable account of $460000 at the beginning…

A: Opening account receivable (A) = $ 460,000 Closing account receivable (B) = $ 450,000 Net credit…

Q: Jars Plus recorded $861,430 in credit sales for the year and $488,000 in accounts receivable. The…

A: Allowance for doubtful accounts means where we expect some debts to become bad in near future then…

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

A: Accounts receivable turnover ratio also known as debtor's turnover ratio which is calculated to…

Q: The financial statements of the Splish Brothers Inc. reports net sales of $360000 and accounts…

A: The average collection period seems to be the length of time it requires for a company to obtain…

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: Sunland Clothing Store had a balance in the Accounts Receivable account of $500000 at the beginning…

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

Q: At the beginning of the year, AlLmight had a receivable amounting to P 100,000. The recorded sales…

A: Bad debts expense = Total receivables - collectible receivables  where, Collectible receivables =…

Q: Dreamer Company reported the "Receivables" account with a debit balance of P2,000,000 at year-end.…

A: Accounts receivables:- Accounts receivables shows the amount of money which is due to a firm on…

Q: The following are ABM Store's year-end balances of selected accounts: Cash, P200,000.00; Sales,…

A: Net Sales = Sales - Sales Discount Gross Profit = Net Sales - Cost of Goods sold Net Income = Gross…

Q: The following data are taken from the financial statements of Basinger Inc. Terms of all sales are…

A: Trade Receivable Turnover ratio - It is used to measure how effective a company is in extending…

Q: Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just…

A: Given Information Current Accounts Receivable balance = $357,615 Credit Sales for year end…

Q: The financial statements of the Novak Corp. report net sales of $300000 and accounts receivable of…

A: The answer is as fallows

Q: The Nicholas Company had net sales on account of $6,570,000 during 1998. The beginning and ending…

A: Given the following information: Net credit sales: $6,570,000 Beginning accounts receivables:…

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: The financial statements of the Blue Spruce Corp. reports net sales of $372000 and accounts…

A: The average collection period indicates the time period the business takes to collect amounts from…

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: Using the following data for the current year, determine the accounts receivable turnover. Net…

A: Accounts Receivable Turnover = Net Sales/ Average Accounts Receivables

Q: Sandhill Co. had a beginning balance in accounts receivable of $65,960 and an ending balance of…

A: Answer Beginning balance of account receivable = $65,960 Ending balance of account receivable =…

Q: Based on the following data for the current year, what is the accounts receivable turnover?   Net…

A: Given the following information: Net sales on account during year: $500,000 Cost of merchandise…

Q: Credit sales during the year were $425,000, the Allowance for Uncollectible Accounts had a beginning…

A: Uncollectibles = Credit Sale ×2%=$425,000×2%=$8,500

Q: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are…

A: Average accounts receivable for 20Y3 = ($196,800+ 212,000)/2 = $204,400 Average accounts…

Q: The financial statements of the Sunland Company report net sales of $384000 and accounts receivable…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

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

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

Q: Camden Hardware’s credit sales for the year were $320,000. Accounts receivable at the beginning and…

A: Accounts Receivable Turnover: The accounts receivable turnover ratio determines the ability of a…

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: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are…

A:

Q: Luna Company reported the following figur Net Credit Sales Account receivables at end of year

A: The average collection period appears to be the amount of time it takes a corporation to collect…

Q: A company reports the following: Sales $1,057,770 Average accounts receivable (net) 83,950 Determine…

A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…

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

A: Ratio analysis is a method of measuring the financial position of the organization with different…

Q: Based on the following data for the current year, what is the number of days' sales in receivable?…

A: Calculate accounts receivable turnover:

Q: Ben Corp has the following annual information: Receivable days assumption = 55 days Payable days…

A: Forecast of account receivables formula: Revenue which was forecasted * (Receivables in days / 365…

Q: The Accounts Receivable account has a beginning balance of $48900 and an ending balance of $69600.…

A: Accounts receivable is the money due for the credit sales and the amount not yet received.

Q: Wildhorse Co. had net credit sales during the year of $1223200 and cost of goods sold of $712000.…

A: ACCOUNTS RECEIVABLE TURNOVER :  = NET CREDIT SALES /  (OPENING RECEIVABLES + CLOSING RECEIVABLES / 2…

Q: The financial statements of the Windsor, Inc. report net sales of $372000 and accounts receivable of…

A: Average collection period for accounts receivable = 365 days/Accounts receivable turnover ratio

Q: The following data are taken from the financial statements of Basinger Inc. Terms of all sales are…

A: Formula: Accounts receivable turnover = Net credit sales / Average accounts receivables. Division of…