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If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio?

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 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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Question

1. If the accounts receivable turnover is 42 days, what is the account receivable turnover ratio?

2. ABC Company has a quick ratio of 2.5 to 1. It has current liabilities of P40,000 and noncurrent assets of P70,000. If Brilliant’s current ratio is 3.1 to 1, its inventory and prepaid expenses must be?

3. Ontario Company has P9,000 in cash, P11,000 in marketable securities, P26,000 in current receivables, P34,000 in inventories, and P40,000 in current liabilities. The Rhea's quick ratio is closest to?

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