The following annual account balances are from Armour Sports at December 31. Year 2 Year 1 Accounts receivable $ 51,827 $ 21,166 Net sales 653,020 249,467
Q: The following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts…
A: Accounts receivable turnover is calculated by dividing the Net credit sales by the Average accounts…
Q: 7. Analyze how wellI TNT Fireworks manages its assets: Requirement 1: a-1. Calculate the return on…
A: Return on assets is one of the ratio which is used to measure how much returns are provided by the…
Q: ABC company's records included the following, assume 365 days in a year: Accounts Receivable,…
A: Average Accounts Receivables = (Beginning Accounts Receivables + Ending Accounts Receivables ) /2…
Q: Last year, Dogwood Company had net sales of $9,690,000 and cost of goods sold of $4,812,000. Dogwood…
A: Accounts receivable turnover ratio = Net credit sales / Average accounts receivable
Q: Gross sales $150,000 Accounts receivable, beginning of year $18,000 Sales…
A: Accounts receivable is the amount owed to a corporation for goods or services delivered or used but…
Q: Analyzing Accounts Receivable The following information is taken from the annual report of The…
A: Answer:- Formulas:- Receivable Turnover = Net Sales / Accounts ReceivableRevised Turnover Ratio =…
Q: Macroware Corporation reported the following information in its financial statements for three…
A: Ratio analysis s helps to analyze the financial statements of the company. Management can make…
Q: The following information is from the annual financial statements of Raheem Company. Year 3 Year 2…
A: Account receivable turnover measures the number of times the company collects its account…
Q: Waupaca Company establishes a $330 petty cash fund on September 9. On September 30, the fund shows…
A: Petty cash fund is used to manage the daily basis of small expenses. In this, a certain amount of…
Q: Macroware Corporation reported the following information in its financial statements for three…
A: Average collection period is calculated by dividing number of days in a year by receivable turnover…
Q: Oman company had $180,000 sales on credit last year. The accounts receivable balance was $14,000…
A: Given: Credit sales = $180,000 Accounts receivables = $14,000
Q: Accounts Receivable Turnover For the Year 2 and Year 1, Classic Company reported the following: Year…
A: Formula for account receivable turnover ratio =SalesAverage Account Receivable
Q: Year 3 Year 2 Year 1 $ 350,000 24,900 $ 403,000 21, 600 Net sales $ 419,000 27, 100 Accounts…
A:
Q: ccounts Receivable Analysis: A company reports the following Sales $649,700 64,970 Average accounts…
A: Ratio analysis: It is a method used to measure the liquidity, profitability, efficiency of the…
Q: Calculate the percentage of AR over 90 days: Total accounts receivable over 90 days: $18,105.50…
A: The percentage is calculated by divide your total accounts receivable by your total accounts…
Q: The company estimates future uncollectible accounts. The company determines $4,200 of accounts…
A: Journal entry: Journal entry is the book of original entry where first transactions are recorded in…
Q: Accounts Receivable Analysis A company reports the following: Sales $192,720 Average accounts…
A: The accounts receivable turnover ratio indicates the efficiency of a company in collecting the…
Q: Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45…
A: The account receivables turnover ratio is calculated as credit sales divided by average account…
Q: A company reports the following: Sales $303,680 Average accounts receivable (net) 23,360 Determine…
A: Accounts receivable turnover ratio shows how quickly company is able to collect amount from the…
Q: What is the number of days’ sales in receivables? Round to one decimal place. Group of answer…
A: Number of days' in receivables Days Sales Outstanding (DSO) represents the average number of days it…
Q: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are…
A: Ratio analysis is a method of measuring the financial position of the organization with different…
Q: ccounts Receivable Analysis A company reports the following: Sales…
A: a) Account Receivable Turnover: Calculate the accounts receivable turnover as shown below: Account…
Q: s an Accounts Receivable balance of $375,000 on April 30. ABC's credit terms are 2/10 net 30. The AR…
A: The quantity of money owed to a firm by its creditors is measured by current accounts receivable…
Q: The following annual account balances are from Armour Sports at December 31. Year 1 $ 34,850 362,239…
A: INTRODUCTION: Net sales are a company's revenue after all deductions have been made. When analyzing…
Q: The following information was taken from the accounts receivable records of Pina Colada Corporation…
A: OutstandingBalance PercentageEstimated to beUncollectible Estimatedto beUncollectible 0 –…
Q: Balance Sheets: Accounts receivable, net Income statements: Sales revenue Receivables turnover ratio…
A: Receivables turnover refers to a financial statistic that indicates how well a firm collects…
Q: Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon…
A: Accounts receivable (AR) is the balance owed to a business for goods or services delivered or used…
Q: Record closing entries.
A: Closing entries:These are the journal entries which has to be made at the end of an accounting…
Q: Accounts Receivable Analysis The following data are taken from the financial statements of Rise and…
A: Ratio analysis means where different ratio of various years of years companies has been compared and…
Q: Accounts Receivable Analysis The following data are taken from the financial statements of Basinger…
A: ACCOUNT RECEIVABLE TURNOVER RATIOAccount Receivable Turnover Ratio is the Ratio between Net Sales…
Q: mpany reports the following:
A: Account Receivable Turnover = Total Sales Average account receivable(net) Number of day sales in…
Q: The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and…
A: Financial Management: Financial management comprises of two words i.e. Finance and management.…
Q: Accounts Receivable Analysis The following data are taken from the financial statements of Basinger…
A: Accounts receivable: It implies to the money that a customer owed to a business for the goods and…
Q: Accounts Receivable Turnover and Average Collection Period The Forrester Corporation disclosed the…
A: Accounts receivable turnover is the measure that helps the entity to know its efficiency in…
Q: Atlas Corporation reports sales of $10 million for Year 2, with a gross profit margin of 40%. 20% of…
A: We need to calculate Accounts receivable days outstanding at the end of Year 2. for this we use the…
Q: The following data are taken from the financial statements of Pharaoh Company. 2022 2021 Accounts…
A: Ratio analysis helps to analyze the financial statements of the company. The management can take…
Q: Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the…
A: Given in the question: Net Sales = $8,987,000 Accounts receivables on January 1 = $725,000 Accounts…
Q: Task 2: Evaluate the company's efficiency in collecting its accounts receivable during the fiscal…
A: The Accounts Receivable Turnover Ratio and the number of days of sales outstanding (DSO), both are…
Q: 500, beginning accounts receivable of $3,100 and ending accounts receivable of $2,300 for the…
A: Day’s sales uncollected is the credit days allowed or the number of days sales remained uncollected.
Q: A company reports the following: Sales $956,300 Average accounts receivable (net) 73,000 Round…
A: Accounts receivable turnover ratio helps stakeholders to identify that how company are managing…
Q: A recent annual report for Adobe Incorporated contained the following data: (dollars in thousands)…
A: Accounts Receivable: It refers to the amount that is yet to be collected by the business from the…
Q: The financial statements of the Sunland Company report net sales of $384000 and accounts receivable…
A: Accounts receivable turnover ratio = Net credit sales / Average Accounts Receivables where, Average…
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
Unlock instant AI solutions
Tap the button
to generate a solution
Click the button to generate
a solution
- Accounts receivables = $6,500 Net Sales = $18,122 Use 360 days when when calculating average days collectionTask 2: Evaluate the company's efficiency in collecting its accounts receivable during the fiscal year ended 31 December 2021. Use the company's information from its annual reports: Receivables as of 31 December 2020 Receivables as of 31 December 2021 $4,468,392 $4,972,722 $45,349,943 Sales revenue for year ended 31 December 2021 1. Calculate the company's number of days of sales outstanding (DSO) for the fiscal year ended 31 December 2021. (Use the average receivables to calculate the ratio). Net = 2.37 = Accounting receivable: Average Day's sales in receivable = 154. 2. Interpret the calculated ratio. 3. Assume that the industry average DSO ratio is 60 days. Based on this information and the subject company's DSO ratio, critically evaluate the company's credit policy and its implications.A company had net sales of $29, 800and accounts receivable of S4, 400for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28A company had net sales of $29,800and accounts receivable of $4,400 for the current period. Its days' sales uncollected equals: (Use 365 days a year.)O A) 65.09 days.O B) 45.89 days.. C) 69.19 days.O D) 53.89 days.O E) 6.77 days.28
- Recent Financial statements of General Mills, Inc. reported net sales of $12,442,000.000. Accounts receivaibe are $912,000,000 at the beginning of the year and $953,000,000 at the end of the year. days. (round to two decimals) General Mills average collection period for accounts receivable isAccounts Receivable Turnover and Average Collection Period VanPoole Corporation disclosed the following financial information (in millions) in its recent annual report: Year 1 Year 2 $167,096 $181,662 33,350 32,870 32,870 32,635 Net sales Beginning accounts receivable (net) Ending accounts receivable (net) a. Calculate the accounts receivable turnover ratio for both years. b. Calculate the average collection period for both years. Notes: 1. Round all answers to one decimal place. 2. Use rounded answer from part a. to compute the average collection period. Year 1 Year 2 a. Accounts receivable turnover b. Average collection period (days) 0 0 0 0 c. Is the company's accounts receivable management improving or deteriorating?Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounts Receivable $2,722 6,494 625 WalCo TarMart CostGet Receivable $1,775 5,966 589 Net Sales $318,427 63,878 64,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales?
- A company reports the following: Sales $1,332,250 Average accounts receivable (net) 53,290 Determine (a) the accounts receivable turnover and (b) 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. a. Accounts receivable turnover fill in the blank 1 b. Number of days' sales in receivables fill in the blank 2 daysAnalyzing Accounts ReceivableThe following information is taken from the annual report of Coca-Cola Enterprises, Inc.: (amounts in millions) Year 1 Year 2 Net sales $19,058 $19,606 Accounts receivable (net) 1,884 1,802 Calculate the receivable turnover ratio and the receivable collection period for Year 1 and Year 2. Round your answer to two decimal places. Year 1 Year 2 Receivable turnover ratio Receivable collection period days days How much additional cash flow from operations could Coca-Cola Enterprises generate in Year 2 if it could reduce its receivable collection period to just 30 days?Round your final answer to the nearest million dollar. Year 2 Additional cash flow million39. CityMarket, Inc.'s purchases during the year were $118,378. The balance sheet shows an average accounts payable balance of $12,000. CityMarket's payables payment period is closest to: 37 days. 44 days. 52 days.
- The following data are taken from the financial statements of Outdoor Patio Inc. Terms of all sales are 2/10, n/60. Year 3 Year 2 Year 1 Accounts receivable, end of year $190,200 $204,000 $219,400 Sales 1,084,050 994,990 a. For Years 2 and 3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Year 3 Year 2 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 daysAccounts 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.
