Suppose the 2022 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.2 billion at the beginning of the year and $3.25 billion at the end of the year.    Compute 3M’s accounts receivable turnover. - Accounts Recievable turnover ratio=? (times)   Compute 3M’s average collection period for accounts receivable in days  - Average collection period =? (days)

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A: Quick ratio: The financial ratio which evaluates the ability of a company to pay off the instant…

Q: Batman Company provides the following data for the year 2020: Cash sales - 500,000; Collection from…

A:

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

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A: Accounts Receivable Turnover Ratio=Net Credit SalesAverage Accounts Receivable

Q: Suppose the 2017 financial statements of 3M Company report net sales of $23.1 billion. Accounts…

A: Solution: Accounts Receivable Turnover ratio: Accounts receivable is most important part of current…

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Q: J & B Company uses the percentage of sales approach to estimate its uncollectible accounts. The…

A: Credit sales = total sales - cash sales = $500000 - 500000*2% = $490, 000

Q: JPJ Corp has sales of $1.11 million, accounts receivable of $52,000, total assets of $5.12 million…

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Q: The following data exists for Sandhill Company.     2020   2019   Accounts Receivable   $60,000…

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A: Account receivable turnover indicates the rate of collection of accounts receivable in a year.

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A: Calculation of average receivables: Answer: Average account receivables are $70 million.

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Q: If Hot Corporation has a balance in account receivable of P80,000, total assets of P520,000, credit…

A: Here, Accounts Receivables is P80,000 Total Assets is P520,000 Credit Sales is P360,000 Current…

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A: Ratio analysis helps to analyze the financial statements of the company. The management can take…

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A: Average Net Receivables = (Receivable at Beginning + Receivable at the End) / 2 Average Net…

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A:

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A: Accounts receivable turnover [in times] = Credit sales for 2022 / Average net accounts receivable…

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A: Account receivable turnover ratio  is calculated to find out the credit policy of the company and…

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A: Accounts receivable turnover: The accounts receivable turnover shows how efficiently a company…

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A: Solution:- Calculation of Accounts receivable turnover ratio as follows:- The following formula used…

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A: We have the following information: Total Sales: Rs.6,00,000 Cash Sales: 20% of Total sales Trades…

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: The current assets for OPAL, Inc. were: 2019: Cash $10,000; Accounts Receivable $24,000 and…

A: Formulas -  Accounts receivables turnover = Net credit sales / average accounts recievables…

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A: Days in collection of account receivable means the number of days which we take to recover the…

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Q: Suppose the following information was taken from the 2017 financial statements of FedEx Corporation,…

A: The given question can be answered in the following manner :

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A: Receivables turnover = Net credit sales / Average Receivables

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A: Accounts Receivable Turnover Ratio is also known as Debtors…

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A: The balance sheet is one of the financial statement that is used to report all the assets,…