Ortiz Lumber Yard has a current accounts receivable balance of $400,000 and accounts payable of 700,000. Its sales for the year just ended were $3,350,000. Days sales outstanding is ____ days. Round it to two decimal places.
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Ortiz Lumber Yard has a current accounts receivable balance of $400,000 and accounts payable of 700,000. Its sales for the year just ended were $3,350,000. Days sales outstanding is ____ days. Round it to two decimal places.
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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.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)?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)Candle Shop, Inc. has net sales on account of $1,700,000. The average net accounts receivable are $630,000. Calculate the Accounts receivable turnover ratio and days' sales in receivables.(Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.)
- Sheffield Shop had a balance in the Accounts Receivable account of $751000 at the beginning of the year and a balance of $879000 at the end of the year. Net credit sales during the year amounted to $5949500. The average collection period of the receivables in terms of days was (Round intermediate calculation to 3 decimal places, e.g. 1.235 and final answer to 1 decimal places, e.g. 0.5.) O 47.0 days. O 3.7 days. O 46.1 days. O 50.0 days.A company reports the following: Sales $838,040 Average accounts receivable (net) 51,100 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover. b. Determine the number of days' sales in receivables.The Perry Company reported Accounts Receivable, Net of $66,400 at the beginning of the year and $72,700 at the end of the year If the company's net sales revenue during the fourth year was $878,000, what are the days to collect during year? (Round your intermediate calculation and final answer to 1 decimal place. Use 365 days in a year): 28.9 days 12.1 days. 8.3 days. 30.2 days.
- Barga Co.’s net sales for Year 1 and Year 2 are $730,000 and $1,095,000, respectively. Its year-end balances of accounts receivable follow: Year 1, $65,000; and Year 2, $123,000. a. Compute its days’ sales uncollected at the end of each year. Round the number of days to one decimal. b. Did days’ sales uncollected improve or worsen in Year 2 versus Year 1?Peterboro Supply has a current accounts receivable balance of $391,648. Credit sales for the year just ended were $5,338,411. How long did it take on average for credit customers to pay off their accounts during the past year? Assume a 365-day year. Can you provide the formula?A company reports the following: Line Item Description Amount Sales $1,069,085 Average accounts receivable (net) 105,850 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.
