During the year ended 31 March 2019, a business made sales of GH₵ 560,000 of which 25% were for cash. The trade receivables at 31 March 2018 were GH₵ 52,000 and at 31 March 2019 they were GH₵56,000. What is the trade receivables turnover based on average trade receivables?
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During the year ended 31 March 2019, a business made sales of GH₵ 560,000 of which 25% were for cash. The trade receivables at 31 March 2018 were GH₵ 52,000 and at 31 March 2019 they were GH₵56,000. What is the trade receivables turnover based on average trade receivables?
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- Calculate the Accounts Receivable Turnover for 2021 using the following information: Net Sales Beginning Accounts Receivable Ending Accounts Receivable 4.29 7.5 8.58 10.00 2021 $30,000 $4,000 $3,000Choose the correct answer and pls provide the formula A Company’s net accounts receivable were P250,000 as of December 31, 2018, and P300,000 as of December 31, 2019. Net cash sales for 2019 were P100,000. The accounts receivable turnover for 2019 was 5.0. What were the Company’s total net sales for 2019? *a. P1,175,000.00b. P1,275,000.00c. P1,375,000.00d. P1,475,000.00e. P1,575,000.00In 2020, HK company has net credit sales of 925,000$ for the year. It had a beginning account receivable (net) balance of 38,000$ and an ending account receivable (net) balance of 36,000$, account receivable turnover (average collection period) in days is O a. 14.4 b. 16.4 O C. 12 O d. 13
- In 2020, HK company has net credit sales of 925,000S for the year. It had a beginning accountreceivable (net) balance of 38,000$ and an ending account receivable (net) balance of 36,000$. The HK company account receivable turnoveris a. 24.3 Ob. 25.7 Dic. 25 d. 22The following is select financial statement information from Vortex Computing: Year Net Credit Sales Ending Accounts Receivable 2018 $1,557,200 $398,000 2019 $1,755,310 $444,400 2020 $1,865,170 $500,780 Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2019 and 2020 (round answers to two decimal places): 2019 Accounts Receivable Turnover = ["", "", "", ""] times. 2019 Days' Sales in Receivables = ["", "", "", ""] days. 2020 Accounts Receivable Turnover = ["", "", "", ""] times. 2020 Days' Sales in Receivables = ["", "", "", ""] days. What do the outcomes tell a potential investor about Vortex Computing, if 2020 industry average for accounts receivable turnover ratio is 4.00 times and days’ sales in receivables ratio is 91.25 days? It takes Vortex Computing ["", "", ""] its competitors in the industry to collect on accounts receivable. If a lender were deciding between companies,…The following is select financial statement information from Vortex Computing: Year Net Credit Sales Ending Accounts Receivable 2018 $1,557,200 $398,000 2019 $1,755,310 $444,400 2020 $1,865,170 $500,780 Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2019 and 2020 (round answers to two decimal places): 2019 Accounts Receivable Turnover = ["", "", "", ""] times. 2019 Days' Sales in Receivables = ["", "", "", ""] days. 2020 Accounts Receivable Turnover = ["", "", "", ""] times. 2020 Days' Sales in Receivables = ["", "", "", ""] days.
- 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) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁if the net sales is P200,000 and the average accounts receivable is P50,000, what is the accounts receivable turnover?Choose the letter of answer and solution A company reports the following data relative to accounts receivable: Average accounts receivable of P400,000.00 and P416,000.00 in FYs 2021 and 2020, respectively; and Net Credit Sales of P2,600,000.00 and P3,100,000.00 in FYs 2021 and 2020, respectively. The term of sale are net 30 days. Compute the accounts receivable turnover and the collection period in FY 2021. * a. 6.5 times and 56.2 daysb. 7.45 times and 49 daysc. 7.5 times and 56.2 daysd. 6.5 times and 49 days
- In 2021 Nash's Trading Co. had credit sales of $1840000 and sales returns related to these sales of $140000. Its comparative balance sheet at December 31, 2021 showed the following: Accounts receivable Less: Allowance for doubtful accounts Carrying amount Nash's Trading's receivable turnover for 2021 is O 2.00. O 2.16. 2.18. O 2.36. 2021 $900000 70000 $830000 2020 $800000 69000 $731000Following is some financial information of 250R Corp: 250 CORP Statement of Income For the years ended December 31, 2020 and 2021 Year Ended 31.12.2021 Sales Revenues Cost of Goods Sold Gross Margin Salaries expense Depreciation expense Interest expense Net income Long-term borrowings Accounts receivable Property, plant & equipment (PPE): Cost Accumulated Depreciation $750,000 (300,000) $450,000 (75,000) (70,000) (30,000) $275,000 Some Selected Balance Sheet Data As at 31.12.2021 $300.000 $525,000 $350,000 210,000 Year Ended 31.12.2020 $500,000 (200,000) $300,000 (50,000) (70,000) (30,000) $150,000 As at 31.12.2020 $300.000 $250.000 $350,000 140,000In 2022, Blossom Company has net credit sales of $1,761,000 for the year. It had a beginning accounts receivable (net) balance of $115,700 and an ending accounts receivable (net) balance of $119,100. Compute Blossom Company’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times Calculate Blossom Company’s average collection period in days. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period enter the average collection period in days rounded to 1 decimal place days