The financial statements of the Splish Brothers Inc. reports net sales of $325500 and accounts receivable of $66000 and $39000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Splish Brothers Inc.? 8.3 times 3.1 times 6.2 times 4.9 times

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: 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: Last year, Dogwood Company had net sales of $9,690,000 and cost of goods sold of $4,812,000. Dogwood…

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

Q: Pine Hardware Store had net credit sales of P6,045,000 and cost of goods sold of P5,000,000 for the…

A: Solution:- Introduction:- Accounts receivables turnover ratio measures the number of times per year…

Q: Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company…

A: Accounts receivable turnover = Net Credit sales / Average account receivable  Accounts receivable…

Q: A company has net income of 213,700 a profit margin of 7.1 percent, and an accounts receivable…

A: Net income = 213,700 Profit margin = 7.1% Sales = Net income/Profit margin          = 213700/0.071…

Q: The financial statements of Marigold Manufacturing Company report net sales of $1278000 and accounts…

A: In order to compute the average collection period of account receivable, we need to first determine…

Q: A company reports the following: Sales Average accounts receivable (net) $511,000 73,000 Determine…

A: Sales = 511,000 Average Accounts Receivables (net) = 73,000

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

A: Answer a) Accounts receivable turnover ratio for Year 3=SalesAverage accounts…

Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: A company reports the following: Sales $303,680 Average accounts receivable (net) 23,360 Determine…

A: Accounts receivable turnover ratio shows how quickly company is able to collect amount from the…

Q: Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a…

A: Accounts receivable turnover analyzes the number of times accounts receivables is collected and…

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

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

Q: Maloney Company had net credit sales during the year of $1,200,000 and cost of goods sold of…

A: Accounts receivable turnover: Accounts receivable turnover is a liquidity measure of accounts…

Q: Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon…

A: The ratio analysis is done to analyse the financial statements of the business.

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: A company reports the following: Sales $1,180,410 Average accounts receivable (net) 56,210…

A: Given: Sales = $1,180,410 Average accounts receivables = $56,210

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

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

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: A company reports the following: Sales $315,360 Average accounts receivable (net) 39,420 Determine…

A: Accounts receivable turnover = ( Net Credit Sales / Average Accounts receivable ) Number of days'…

Q: A company reports the following: Sales $859,940 Average accounts receivable (net) 45,260…

A: Account Receivables turnover ratio: Account Receivables turnover ratio is mainly used to evaluate…

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 financial statements of the Sheffield Corp. reports net sales of $690150 and accounts receivable…

A: Accounts receivable turnover ratio is computed to determine the efficiency of the entity to collect…

Q: Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon…

A: Accounts receivable:  It is a current asset of an organization. It is the amount due from customers…

Q: The financial statements of Danielle Manufacturing Company report net sales of $750,000 and accounts…

A: Accounts receivables turnover ratio refers to the efficiency ratio which measures the effectiveness…

Q: The following information was taken from the books of Olmeck, Inc. Sales Accounts receivable:…

A: Accounts receivable turnover = Net sales of company / Average accounts receivable of company Number…

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: A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 Determine…

A: Accounts receivable turnover = Sales / Average Accounts receivable where, Average Accounts…

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: A company reports the following Sales $1,200,000 Average accounts receivables (net) 50,000 Determine…

A: Accounts receivables are the legal enforceable claims by the company for the products supplied to…

Q: Barga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end…

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

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: Blue Air Inc., has net sales of $735,000 and  accounts receivables of $164,000. What are the firm's…

A: Accounts Receivables Turnover Ratio measures the efficiency of the company in collecting receivables…

Q: Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the…

A: Given in the question: Net Sales = $8,987,000 Accounts receivables on January 1 = $725,000 Accounts…

Q: A company has net sales of $1,531,800 and average accounts recelvable of $414,000. What is Its…

A: Accounts Receivable Turnover Ratio means Net Sales Divided by Average Receivable. It is used to know…

Q: Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts…

A: The accounts receivable turnover ratio determines the efficiency of the collection from its 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: SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: A company reports the following: Sales $1,092,080 Average accounts receivable 49,640 (net) Determine…

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

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: 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 income statement of Collins Co. reported total sales revenue of $460,000 during the current…

A: Lets understand the basics. For calculating cash inflow from customer, we will need to use below…

Q: Accounts receivable turnover and days’ sales in receivables For two recent years, Robinhood Company…

A: Particulars 20Y9 20Y8 Opening Accounts Receivables 610000 530000 Closing Accounts Receivables…

Q: A company reports the following: Sales $117,530 Average accounts receivable (net) 16,790 Determine…

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

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: 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

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is