Ortiz Lumber Yard has a current accounts receivable balance of $350,000. Creditsales for the year just ended were $2,940,000. Accounts Receivable Turnover is8.4 Times7.6 Times5.4 Times6.8 Times4.2 Times

Accounts receivable turnover ratio helps to determine how efficient company is in recovering or…

Answered: Ortiz Lumber Yard has a current…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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Last 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.
Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: 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.
Medwig Corporation has a DSO of 17 days. The company averages 3,500 in sales each day (all customers take credit). What is the companys average accounts receivable?
Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note: Round answers to two decimal places. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales for the year are $924,123. The balance at the end of 2017 was $378,550. What is the number of days sales in receivables ratio for 2018 (round all answers to two decimal places)?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit sales for the year are $567,920. What is the days sales in receivables ratio for 2018 (rounded to the nearest whole number)? A. 190 days B. 109 days C. 110 days D. 101 days
Ortiz Lumber Yard has a current accounts receivable balance of $450,000 and accounts payable of 700,000. Its sales for the year just ended were $3,550,000. Days sales outstanding is ____ days. Round it to two decimal places.
Pine Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was 10 times. 9.3 times. O 7.7 times. 10.8 times.
Pujols Lumber Yard has a current accounts receivable balance of $265,038. Credit sales for the year just ended were $5,307,288. How long did it take on average for credit customers to pay off their accounts during the past year? (Enter the answer with 2 decimal places (e.g. 23.45)
Twist Corp. has a current accounts receivable balance of $438,726. Credit sales for the year just ended were $3,830,500. What is the receivables turnover?
Twist Corp. has a current accounts receivable balance of $357,615. Credit sales for the year just ended were $2,936,600. a. What is the receivables turnover? b. What is the days' sales in receivables?

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Ortiz Lumber Yard has a current accounts receivable balance of $350,000. Credit sales for the year just ended were $2,940,000. Accounts Receivable Turnover is 8.4 Times 7.6 Times 5.4 Times 6.8 Times 4.2 Times