oblem 5 CCOUNTS RECEIVAE counts receivable: Average accou Net credit sale
Q: Rhoont 26. Vvnat is uhe amount of collecion from customers assuming all sales were made on credit?…
A: answer are as follows as per the guidelines we can provide the ans for one question. please post…
Q: 4 6 If company A has accounts receivable turnover of 3.5 while company B has an accounts receivable…
A: Accounts Receivables turnover ratio is the ratio of net credit sales to the average accounts…
Q: 7. Accounts receivable is an account whose normal balance is a credit. O True O False
A: Since you have posted multiple questions , we will do the first question for you . To get the…
Q: At the beginning of the current period, Bramble Corp. had balances in Accounts Receivable of…
A: General Journal of Bramble corp . No. Account Titles and Explanation Debit Credit a) Account…
Q: 1. What is the formular for Accounts Recieveables? 2. What is the formular for Accounts Payable?
A: Accounts Receivable - Accounts Receivables are the amount that is not paid by the customers who had…
Q: H. D Balarce Sheet rtinlBafeeAdusted Idal Balance mmStatement 1Debit Credit Debit Credit 130,200.00…
A:
Q: A credit memorandum results in a(n) ___ in a customers accounts receivable file. A. memo B.…
A: Credit memo - Indicates a decrease in the amount of customer owed to the seller. Components of the…
Q: al balance ! Debit balances Credit balances 10,700 Accounts receivable 23,750 Cash
A: Trial Balance- The balance of all ledgers is combined into equal totals for the columns of the debit…
Q: Balancing of account means :(i) Total of debit side(ii) Total of credit side(iii) Difference in…
A: The correct option is option c.
Q: AFA FINANCIAL ACCOUNTING equivalent to 5% of the receivables at that date. receivables expense?
A: Bad Debts:- These are those debts from whom the company is unable to collect debts. These are…
Q: What does "2/10" mean, with respect to "credit terms of 2/10, n/30"
A: Credit terms are those terms which provides the parameters of payment by the customers for the…
Q: the Accumulated OCI included in the 12 O credit O debit 0 credit
A: Stockholders' equity refers remaining value of monetary remained at a company after it has sorted…
Q: Listed below are nine technical accounting terms introduced in this chapter. Uncollectible accounts…
A: Accounting is the term which is defined as the procedure of recording the financial transactions in…
Q: pruary 11, ABC's journ- D a. Debit loss on acco O b. Debit cash for $30 O c. Debit cash for $2 O d.…
A: Solution: Particulars Debit Credit Cash $291,000 Sales Discount ($300000*3%) $9,000…
Q: 1. How much is the trade discount? 2 When is the due date to pay the account? 3. What is the term of…
A: Trade discount is the discount which is received by the buyer on the goods which has been bought in…
Q: 32 Which of the following accounts has a normal credit balance? a. Purchases b. Purchase Discounts…
A: Any account should have debit or credit balance. All assets and expenses should have debit balance.…
Q: a. single equivalent discount rate. (% in 2 decimal places) b. net invoice price. C. amount of trade…
A: Net invoice price is the price which is calculated by the person or the company when all the…
Q: Question 11 A statement listing customers, account balances, and total amount due from all customers…
A: Accounts payable ledger - It is an account which contain the details of all invoices received from…
Q: Question 8 A controlling account that equals the total of all customer accounts is: O Accounts…
A: Account refers to the ledger that carries all the transactions related to a particular item or…
Q: What was the 10/31 balance in Accounts Receivable?
A: Calculation of Total Sales for the Oct. Month(Amount in $) Total units to be sold in Oct(a) = 3000…
Q: Credit termog 1/10, n/30 means
A: A discount provided by the seller to the buyer on the purchase of the goods and services by reducing…
Q: 25) How is the total of the purchases daybook posted to the nominal ledger? A. Debit purchases,…
A: The journal entries are used to record the financial transactions. It is also used to prepare the…
Q: Grill's Floori Allowance f receivable cchedu Hule of
A: These are the accounting transactions that are having a monetary impact on the financial statement…
Q: Description P.R. Debit Credit
A: Step 1 Journal is the part of Book keeping.
Q: revenue yable-bank yable (b) nclude two se 0% poto iccus
A: Current Liabilities:
Q: The average payment period of an organization is calculated by __________. a. Average payables /…
A: Average payment period is the time taken by the company to pay their credits.
Q: e percent of receivables allowance method,
A: Estimated percentage of uncollectible accounts = Allowance for doubtful accounts * 100/Accounts…
Q: Britgeport Coruse he percentige-otreceivablesbasis to record Accounts recelvable lending balance…
A: The net realizable value is calculated as difference between account receivables and allowance for…
Q: Which form of receivable financing is equivalent to an absolute sale of accounts receivable? a.…
A: Solution: "Factoring" form of receivable financing is equivalent to an absolute sale of accounts…
Q: 15.Which of the following is/are considered as trade receivables? I. Claims from customers for…
A: Trade receivables seem to be the sums due to a company by its clients after the sale of products and…
Q: Dr. Receivables Cr. Purchases Dr. Sales Returns Cr. Receivables Dr. Sales Cr. Receivables Dr.…
A: The financial transactions are recorded in the form of journal entries. When a company purchases…
Q: Required: 4. Indicate the classification, presentation and disclosure of the accounts receivable…
A: Receivables: The amount of money to be received within the operating cycle of the company is known…
Q: 10. The account to be debited and credited respectively to record transaction letter g. is O…
A: Revenue Journal- The term "revenue journal" is also used to refer to a sales journal. It's a term…
Q: IA - RECEIVABLE FINANCING 4. Identification. This is the sum of the face value of notes…
A:
Q: Questions: 1. Accounts receivable turnover (assume all sales are on account) 2. Average collection…
A: Average accounts receivable= (Opening accounts receivable + Closing accounts receivable)/2…
Q: b. Compute the following Ratios: i. Current Ratio ii. Acid-test Ratio iii. Accounts receivable…
A: As per the honor code, we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit…
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- Measures of liquidity, solvency, and profitability The comparative financial statements of Marshall Inc. are as follows. The market price of Marshall common stock was 82.60 on December 31, 20Y2. Instructions Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working capital 2. Current ratio 3. Quick ratio 4. Accounts receivable turnover 5. Number of days sales in receivables 6. Inventory turnover 7. Number of days sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders equity 10. Times interest earned 11. Asset turnover 12. Return on total assets 13. Return on stockholders equity 14. Return on common stockholders equity 15. Earnings per share on common stock 16. Price-earnings ratio 17. Dividends per share of common stock 18. Dividend yieldFINANCIAL RATIOS Based on the financial statements foe Jackson Enterprises (income statement, statement of owners equity, and balance sheet) shown on pages 598599, prepare the following financial ratios. All sales are credit sales. The Accounts Receivable balance on January 1, 20--, was 21,600. 1. Working capital 2. Current ratio 3. Quick ratio 4. Return on owners equity 5. Accounts receivable turnover and average number of days required to collect receivables 6. Inventory turnover and average number of days required to sell inventoryLast year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000. Nikkola had the following balances: Refer to the information for Nikkola Company above. Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
- Ratios Analyses: McCormick Refer to the information for McCormick above. Additional information for 20X3 it as follows (amounts in millions): Required: Next Level Compute the following for 20X3. Provide a brief description of what each ratio reveals about McCormick 1. return on common equity 2. debt-to-assets 3. debt-toequity 4. current 5. quick (McCormick uses cash and equivalents, short-term securities and receivables in their quick ratio calculation.) 6. inventory turnover days 7. accounts receivable turnover days 8. accounts payable turnover days 9. operating cycle (in days) 10. total asset turnover Use the following information for 14-17 and 14-18: The Hershey Company is one of the worlds leading producers of chocolates, candies, and confections. It sells chocolates and candies, mints and gums, baking ingredients, toppings, and beverages. Hersheys consolidated balance sheets for 20X2 and 20X3 follow.A moodle1.du.edu.om P Flag question Some selected financial statement items belonging to Mirbat Company are given in the table below. According to this information, which of the following is Receivables Turnover ratio? Average Receivables 15,000 Sales 77,000 Gross Profit 30,000 Non-current Assets 80,000 Sales returns 2,000 Shareholders' Equity 65,000 Select one: а. 3.33 O b. 0.20 c. 5.13 O d. 5 Previous page Next page IIAccounts receivable analysisThe following data arc taken from the financial .statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $ 725,000 $ 650,000 $600,000 Sales on account 5,637,500 4,687,500 A. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. (Round to the nearest dollar and one decimal place)B. What conclusions can be drawn from these data concerning accounts receivable and credit policies?
- QUESTION: I need to determine the following measures for 20Y2 for numbers 6-18 (Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working Capital $ 1,584,000.00 2. Current ratio 2.8 3. Quick ratio 2.2 4. Accounts receivable turnover 20.0 5. Number of days' sales in receivables 18.3 6. Inventory turnover 7. Number of days’ sales in inventory 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders’ equity 10. Times interest earned 11. Asset turnover 12. Return on total assets % 13. Return on stockholders’ equity % 14. Return on common stockholders’ equity % 15. Earnings per share on common stock $ 16. Price-earnings ratio 17. Dividends per share of common stock $ 18. Dividend yield % I posted below the Comparative Retained Earnings Statement, Comparative…Accounts Receivable Analysis The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $171,400 $179,000 $186,000 Sales on account 1,068,720 1,003,750 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover fill in the blank 1 fill in the blank 2 2. Number of days' sales in receivables fill in the blank 3 days fill in the blank 4 days b. The collection of accounts receivable has . This can be seen in both the in accounts receivable turnover and the in the collection period.QUESTION: I need to determine the following measures for 20Y2 for number 8 and 11-18 (Determine the following measures for 20Y2 (round to one decimal place, including percentages, except for per-share amounts): 1. Working Capital $ 1,584,000.00 2. Current ratio 2.8 3. Quick ratio 2.2 4. Accounts receivable turnover 20.0 5. Number of days' sales in receivables 18.3 6. Inventory turnover 15.0 7. Number of days’ sales in inventory 24.3 8. Ratio of fixed assets to long-term liabilities 9. Ratio of liabilities to stockholders’ equity 0.8 10. Times interest earned 8.7 11. Asset turnover 12. Return on total assets % 13. Return on stockholders’ equity % 14. Return on common stockholders’ equity % 15. Earnings per share on common stock $ 16. Price-earnings ratio 17. Dividends per share of common stock $ 18. Dividend yield % I posted below the Comparative Retained Earnings Statement,…
- Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $725,000 $650,000 $600,000 Sales on account 5,637,500 4,687,500 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days b. The collection of accounts receivable has . This can be seen in both the in accounts receivable turnover and the in the collection period.Accounts Receivable Analysis The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45. 20Υ3 20Y2 20Y1 Accounts receivable, end of year $476,800 $420,000 $377,000 Sales on account 4,125,280 3,347,400 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. 20Y3 20Υ2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days b. The collection of accounts receivable has This can be seen in both the in accounts receivable turnover and the in the collection period.Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Υ2 20Υ1 Accounts receivable, end of year $175,000 $190,000 $204,200 Sales on account 1,003,750 985,500 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. 20Υ3 20Υ2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days b. The collection of accounts receivable has improved v This can be seen in both the increase v in accounts receivable turnover and the decrease in the collection period. Feedback Check My Work a.1. Divide net sales by average accounts receivable. Average Accounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) ÷ 2. a.2. Divide average accounts receivable by average daily sales on account. Average Accounts receivable = (Beginning Accounts Receivable +…