Financial Accounting-w/cd-package
3rd Edition
ISBN: 9780131060876
Author: REIMERS
Publisher: PEARSON
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Question
Chapter 10, Problem 22EA
1.
To determine
Determine
2.
To determine
Determine accounts receivable turnover ratio for the year ended December 31, 2012.
3.
To determine
Determine inventory turnover ratio for the year ended December 31, 2012.
4.
To determine
Determine return on assets for the year ended December 31, 2012.
5.
To determine
Determine return on equity for the year ended December 31, 2012.
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Students have asked these similar questions
1. Compute the following ratios for the comparative periods (2018 and 2019). The company used 365 days in its computation for some of the ratios. Show your solution.
d. Accounts Receivable Turnover Ratio
e. Average Collection Period
f. Inventory Turnover Ratio
g. Average Days in Inventory
h. Number of days in Operating Cycle
i. Debt to Total Assets Ratio
j. Debt to Equity Ratio
k. Times Interest Earned Ratio
l. Gross Profit Ratio
m. Profit Margin Ratio
n. Return on Assets
o. Return on Equity
p. Assets Turnover Ratio
The following data are taken from the financial statements of Colby Company.
Accounts receivable (net), end of year
Net sales on account
Terms for all sales are 1/10, n/45
Accounts Receivable turnover
Average collection period
(b)
2022
$550,000
2022
2021
4,300,000 4,000,000
7.9 times
$540,000
2021
7.5 times
46.2 days 48.7 days
What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average
collections period.
Compute the following the financial data for this year . 1.accountes receivable turnover
2. Average collection period
3. Inventory turnover
4. Average sale period
5. Operating cycle
6. Total asset turnover
Chapter 10 Solutions
Financial Accounting-w/cd-package
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