20212020$ 88,000 $ 70,00093,00076,000Accounts receivableInventoryNet sales (all credit)Cost of goods sold510,000380,000257,000s05,000223,000760, e00Total assetsTotal stockholders' equity510,00077,000445,00056,e00Net incomeIPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.)

2021 2020 $ 88,000 $ 70,000 93,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets 76,000 510,000 257,000 380, e00 805,000 510,000 223,000 760,e00 445,000 Total stockholders' equity Net income 77,000 56,000

2021 2020 $ 88,000 $ 70,000 93,000 Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets 76,000 510,000 257,000 380, e00 805,000 510,000 223,000 760,e00 445,000 Total stockholders' equity Net income 77,000 56,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.

Question

2021
2020
$ 88,000 $ 70,000
93,000
76,000
Accounts receivable
Inventory
Net sales (all credit)
Cost of goods sold
510,000
380,000
257,000
s05,000
223,000
760, e00
Total assets
Total stockholders' equity
510,000
77,000
445,000
56,e00
Net income
IPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.)

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