Solved

The Following Selected Company Information Was Reported Calculate the Following Company Ratios:
(A)Accounts Receivable Turnover

Question 144

Essay

The following selected company information was reported:
 Accourits receivable, begirning-year $170,000 Accourts receivable, year-end 190,000 Merchardise irventory, begirning-year 80,000 Merchardise irventory, year-end 60,000 Cost of goods sold 580,000 Credit sales 1,000,000\begin{array} { | l | r | } \hline \text { Accourits receivable, begirning-year } & \$ 170,000 \\\hline \text { Accourts receivable, year-end } & 190,000 \\\hline \text { Merchardise irventory, begirning-year } & 80,000 \\\hline \text { Merchardise irventory, year-end } & 60,000 \\\hline \text { Cost of goods sold } & 580,000 \\\hline \text { Credit sales } & 1,000,000 \\\hline\end{array}
Calculate the following company ratios:
(a)Accounts receivable turnover.
(b)Inventory turnover.
(c)Days' sales uncollected.

Correct Answer:

verifed

Verified

(a)
blured image (b)Inventory turnover = ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents