Required:1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal places.)Inventory tumover ratioRecelvables turnover ratioAverage collection periodtimestimesdaysAsset tumover ratiotimes The 2021 income statement of Anderson Medical Supply Company reported net sales of $11 million, cost of goods sold of$5.4 million, and net income of $830.000. The following table shows the company's comparative balance sheets for 2021and 2020:($ in thousands)20212020AssetsCashAccounts receivableInventoryProperty, plant, and equipment (net)%245004208201,2003,0005601, e002,720$ 4,780Total assets$ 5,440Liabilities and shareholders' equityCurrent liabilitiesBonds payable$1,8801,5001,6001, 260$ 5,44095e1,5001,600730Common stockRetained earningsTotal liabilities and shareholders' equity$4,780Required:tins for 2021 (Use 365 days a year. Round your answers to 2 decimal places.)

Solution:- 1) calculation of average inventory as follows:- Average inventory =Cost of goods sold…

Answered: Required: 1. Calculate Anderson's…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

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Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...

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GIVE THE FORMULAS FOR THE FOLLOWING EFFICIENCY RATIOS OF NESTLE. THANK YOU Ratio Analysis Efficiency Asset turnover Inventory turnover Receivables turnover Summary of Financial Ratios of Nestle 2020 2019 Average collection period (days) 0.68 4.254 7.849 46.519 0.724 4.993 7.867 46.323 Industry Average 449 days 68 days 34 days
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Current assets Cash Trading investments Accounts receivable, net Inventory Prepaid expenses Total current assets Total current liabilities Additional information: Type here to search (in thousands) Allowance for doubtful accounts Credit sales $ Cost of goods sold 30 55 671 624 41 $ 1,421 882 $ 2021 $ 50 4.175 2.909 91 60 582 $ 1,311 $ 826 526 52 $ 2020 3.901 2,645 $ 60 40 498 581 $ 29 $ 1.208 756 2019 40 3.733 2.364
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Ratio Analysis The following information was taken from Nash Inc.s trial balances as of December 31, 2018, and December 31, 2019. Required: 1. Calculate the net profit margin and accounts receivable turnover for 2019. ( Note: Round answers to two decimal places.) 2. How much does Nash make on each sales dollar? 3. How many days does the average receivable take to be paid (assuming all sales are on account)?
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Required: 1. Calculate Anderson's turnover ratios for 2021. (Use 365 days a year. Round your answers to 2 decimal plac Inventory tumover ratio Recelvables turnover ratio Average collection period times times days