If we know that for the year 2010 Johnson's Company had Cost of goods sold = 600,000 USD and Sales (on credit) = 850,000 USD. And at the beginning of this year Johnson's Company had Accounts Receivable = 75,000 USD and its Inventory = 110,000 USD. At the end of the year company's Accounts Receivable = 95,000 USD and Inventory = 130,000 USD. What is the accounts receivable turnover ratio for the year 2010?
If we know that for the year 2010 Johnson's Company had Cost of goods sold = 600,000 USD and Sales (on credit) = 850,000 USD. And at the beginning of this year Johnson's Company had Accounts Receivable = 75,000 USD and its Inventory = 110,000 USD. At the end of the year company's Accounts Receivable = 95,000 USD and Inventory = 130,000 USD. What is the accounts receivable turnover ratio for the year 2010?
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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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If we know that for the year 2010 Johnson's Company had Cost of goods sold = 600,000 USD and Sales (on credit) = 850,000 USD. And at the beginning of this year Johnson's Company had Accounts Receivable = 75,000 USD and its Inventory = 110,000 USD. At the end of the year company's Accounts Receivable = 95,000 USD and Inventory = 130,000 USD. What is the accounts receivable turnover ratio for the year 2010?
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