FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
Bartleby Related Questions Icon

Related questions

bartleby

Concept explainers

Question

please help me

Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $625,000 in 2022. The company's ending net receivables
were $112,000 at December 31, 2020 and $126,000 at December 31, 2021. At December 31, 2022, the company had Accounts
Receivable of $159,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,900. The company
reported Bad Debt Expense of $8,860 during 2022.
Required:
a. Determine the net receivables at December 31, 2022.
b. Calculate the receivables turnover ratio for 2021 and 2022.
c. Calculate the days to collect for 2021 and 2022.
Complete this question by entering your answers in the tabs below.
Required A Required B Required C
Determine the net receivables at December 31, 2022.
Not receivables
XxRequired A
Required B >
expand button
Transcribed Image Text:Geisel, Incorporated reported net sales revenue of $523,000 in 2021 and $625,000 in 2022. The company's ending net receivables were $112,000 at December 31, 2020 and $126,000 at December 31, 2021. At December 31, 2022, the company had Accounts Receivable of $159,000 and an unadjusted debit balance in its Allowance for Doubtful Accounts account of $1,900. The company reported Bad Debt Expense of $8,860 during 2022. Required: a. Determine the net receivables at December 31, 2022. b. Calculate the receivables turnover ratio for 2021 and 2022. c. Calculate the days to collect for 2021 and 2022. Complete this question by entering your answers in the tabs below. Required A Required B Required C Determine the net receivables at December 31, 2022. Not receivables XxRequired A Required B >
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Accounting
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
FINANCIAL ACCOUNTING
Accounting
ISBN:9781259964947
Author:Libby
Publisher:MCG
Text book image
Accounting
Accounting
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:Cengage Learning,
Text book image
Accounting Information Systems
Accounting
ISBN:9781337619202
Author:Hall, James A.
Publisher:Cengage Learning,
Text book image
Horngren's Cost Accounting: A Managerial Emphasis...
Accounting
ISBN:9780134475585
Author:Srikant M. Datar, Madhav V. Rajan
Publisher:PEARSON
Text book image
Intermediate Accounting
Accounting
ISBN:9781259722660
Author:J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:McGraw-Hill Education
Text book image
Financial and Managerial Accounting
Accounting
ISBN:9781259726705
Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:McGraw-Hill Education