The following balance sheet information was provided by Summit Electronics: Assets 2014 2013 Cash $4,500 $4,200 Accounts receivable $28,000 $25,000| Inventory $50,000 $55,000 Assuming 2014 net credit sales totalled $160,000, what were Summit Electronics' average days to collect receivables? a. 58.1 days b. 55.4 days c. 60.4 days d. 116.3 days

The following information is taken Aiello Corporation's fiscal 2016 annual report.      Selected Balance Sheet Data 2016 2015 Inventories........................ $221,418 $226,893 Accounts Receivable........... $121,333 $122,087   Assume that Aiello Corporation had $1,003,881 sales on credit during fiscal year 2016. What amount did the company collect from credit customers during the year?    a. $1,003,881 b. $1,004,635 c. $1,003,127 d. $1,247,301

From the balance sheet prepare a proforma income statement where revenues can increase by 2% and the firm can borrow at 5.5% BALANCE SHEET  2021 Cash and cash equivalents 280 Receivables 2588 Inventory 2516 Other  CA 189 TOTAL CA 5573 Fixed assets 5024 TOTAL ASSETS 10597 Accounts payable 4713 Short term debt 78 TOTAL CL 4790 LT debt 921 Shareh. Equity 4886 TOTAL LIAB. AND SHARH. EQUITY 10597     INCOME STATEMENT 2021 Sales 19418 COGS 13136 Depreciations 354 SG&A 4952 EBIT 976 Interest  Expenses 52 Tax 268 Net income 656 Pro-forma statement Pro Forma Forecasts Actual Projected Projected Projected Projected Projected   2021 2022 2023 2024 2025 2026 COGS/REVENUES             SGA/SALES              INVENTORIES/COGS             OTHER CA/SALES             AR/SALES             AP/COGS             SALES/FIXED ASSETS             DEPR/ FIXED  ASSETS             EQUITY/INVESTED CAPITAL             ST DEBT/INVESTED…

Use the following information..given answer Accounting

1. Use ratios to analyze a company's liquidity and solvency. Calculate Select Ratios - Excel FILE НОМE INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign In Calibri 11 A A % Alignment Number Conditional Format as Formatting - Table - Paste I Cell Cells Styles - Clipboard Font Styles B36 fx A B C D 1 Condensed financial statements for Games Galore are summarized below: 2 3 Balance Sheet 2016 2015 185,000 $ 80,000 4 Cash $ 143,000 59,000 134,000 5 Accounts Receivable, Net 6 Inventory 104,000 7 Prepaid Insurance 11,900 5,880 Total Current Assets 380,900 341,880 9 Property and Equipment, Net 514,500 407,000 10 Total Assets $ 895,400 $ 748,880 11 12 Current Liabilities 2$ 85,300 $ 96,800 13 Long-term Liabilities 284,000 224,000 Total Liabilities 369,300 299,000 320,800 299,000 14 15 Contributed Capital 16 Retained Earnings Total Stockholders' Equity 227,100 129,080 428,080 17 526,100 18 Total Liabilities and Stockholders' Equity $ 895,400 $ 748,880 19 20 Income Statement $ 3,031,000…

Suppose the 2017 financial statements of 3M Company report net sales of $23.1 billion. Accounts receivable (net) are $3.40 billion at the beginning of the year and $3.54 billion at the end of the year. Compute 3M Company's receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) times Accounts receivable turnover ratio SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Compute 3M Company's average collection period for accounts receivable in days. (Round answer to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Average collection period days

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Financial accounting

Accounting compute the accounts receivable turnover

Selected information from the comparative financial statements of AppleVerse Company for the year ended December 31 appears below: 2018 2017 Php Php Accounts receivable (net) 175,000 200,000 Inventory 130,000 150,000 Total assets 1,100,000 800,000 Current liabilities 140,000 110,000 Long-term debt 410,000 300,000 Net credit sales 800,000 700,000 Cost of goods sold 600,000 530.000 Interest expense 40.000 25,000 Income tax expense 60.000 29,000 Net income 150.000 85,000 Net cash provided by operating 220,000 135,000 activities Compute for the Receivables Turnover for 2018. O 2.13 O 4.27 O 5.95 O 3.23