4. Assume a business sold a total of $839,500 during the current year and its accounts receivable balance at the end of the year was $73,600. What is the number of days' sales in receivables?|
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Number of days' sales in receivables is the number of days it take to collect the accounts receivable.
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- Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had the following balances: Refer to the information for Tobys on the previous page. 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.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.
- A. Assume that all sales are on account. If sales revenue was $18,000,000 and the average days in accounts receivable was 38 days for the last operating year, what would the average accounts receivable balance have been? a. $1,680,000 b. $1,500,000 c. $1,875,000 d. $18,000,000 B. If accounts receivable is projected to be $800,000 at the beginning of the next operating year and $1,100,000 at the end of the next operating year: would cash be generated by accounts receivable or needed to fund accounts receivable? And, by how much? a. $300,000 of cash needed to fund accounts receivable b. $1,100,000 of cash needed to fund accounts receivable c. $500,000 of cash needed to fund accounts receivable d. $300,000 of cash generated by accounts receivableA company reports the following: Sales Average accounts receivable (net) Determine (a) the accounts receivable turnover and (b) number of days' sales in receivables. Round your answers to one decimal place. Assume a 365- day year. a. Accounts receivable turnover $398,580 76,650 b. Number of days' sales in receivables daysA company reports the following: Sales Average accounts receivable (net) $511,000 73,000 Determine the (a) accounts receivable turnover, and (b) number of days' sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables 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.A company reports the following: Sales $1,359,990 Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover.fill in the blank 1 b. Determine the number of days' sales in receivables.fill in the blank 23. The following data are taken from the financial statements of Sigmon Inc. Terms of all are 2/10, n/45. Accounts Receivable, end of year Sales on account of Required: 20Y3 $725,000 $5,637,000 a. For 20Y2 and 20Y3, determine: 1. Accounts Receivable Turnover 2. The number of Days' Sales in Receivables 20Y2 $650,000 $4,687,000 20Y1 $600,000 b. What conclusions can you draw from these data concerning Sigmon's accounts receivable and credit policies?
- 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 20Υ2 20Υ1 Accounts receivable, end of year $212,000 $226,000 $241,200 Sales on account 1,270,200 1,214,720 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.A company has net sales on account of $1,750,000. Net accounts receivable at the beginning of the year are $147,000 and net accounts receivable at the end of the year are $153,000. The accounts receivable turnover is a.1.0. b.11.4. c.11.7. d.11.9.
