The following information was taken from the December 31, 2023, annual report of WestCon Developments. (5 millions) 2022 2023 $7,480 $5,560 618 506 Net sales Accounts receivable Accounts receivable turnover Days' sales uncollected Industry Average 17.2 21.0 Required: 1. Calculate accounts receivable turnover and days' sales uncollected for the year 2023. (Assume 365 days in a year. Round answers to 2 decimal places.)

The following information was taken from the December 31, 2023, annual report of WestCon Developments. (5 millions) 2022 2023 $7,480 $5,560 618 506 Net sales Accounts receivable Accounts receivable turnover Days' sales uncollected Industry Average 17.2 21.0 Required: 1. Calculate accounts receivable turnover and days' sales uncollected for the year 2023. (Assume 365 days in a year. Round answers to 2 decimal places.)

Name: Please do not give solution in image format thanku The following infor
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Please do not give solution in image format thanku The following information was taken from the December 31, 2023, annual report of WestCon Developments.($ millions)20222023$7,480 $5,560618506Net salesAccountsreceivableAccounts receivable turnoverDay

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

See similar textbooks

Similar questions

The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations: During the year, Arnn had net sales of 2.45 million. The cost of goods sold was 1.3 million. Required: Note: Round all answers to two decimal places. 1. Compute the current ratio. 2. Compute the quick or acid-test ratio. 3. Compute the accounts receivable turnover ratio. 4. Compute the accounts receivable turnover in days. 5. Compute the inventory turnover ratio. 6. Compute the inventory 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.
Ratio Analysis The following information was taken from Nash Inc.s trial balances as of December 31, 2018, and December 31, 2019. Required: 1. Calculate the net profit margin and accounts receivable turnover for 2019. ( Note: Round answers to two decimal places.) 2. How much does Nash make on each sales dollar? 3. How many days does the average receivable take to be paid (assuming all sales are on account)?
Using the following select financial statement information from Mover Supply Depot, compute the accounts receivable turnover ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Mover Supply Depot if the industry average is 4 times?
Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts receivable balance of $844,260, and an ending accounts receivable balance of $604,930. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Starlight Enterprises if the industry average is 1.5 times and the number of days sales ratio is 175 days?
The following select financial statement information from Vortex Computing. Compute the accounts receivable turnover ratios and the number of days sales in receivables ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Vortex Computing if industry average for accounts receivable turnover ratio is 4 times and days sales in receivables ratio is 85 days?
The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁
The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.
The following data are taken from the financial statements of Sheffield Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a1) X Your answer is incorrect. 2022 $555,000 3,997,500 2021 $470,000 3,122,250 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $435,000. (Round answers to 1 decimal place, e.g. 1.6.)
The following data are taken from the financial statements of Wildhorse Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a) 2025 $594,200 4,842,800 Accounts receivable turnover Compute for each year the accounts receivable turnover. At the end of 2023, accounts receivable (net) was $542,00 2024 $ 616,500 4,054,750 2025 times 2024 times
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 $120,200 $128,000 $134,800 Sales on account 719,780 670,140 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.
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 $106,000 $113,000 $120,600 Sales on account 602,250 584,000 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