Financial statement data for years ending December 31 for Schultze-Solutions Company follow: 20Υ2 20Υ1 Sales $1,848,000 $1,881,000 Accounts receivable: Beginning of year 195,300 184,700 End of year 224,700 195,300 a. Determine the accounts receivable turnover for 20Y2 and 20Y1. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2ΟΥ2 20Υ1 b. Determine the days' sales in receivables for 20Y2 and 20Y1. Use 365 days, if required round the final answers to one decimal place. Days' Sales in Receivables days 20Υ2 days 20Υ1 nd the davs' eales in rereivahles from 20Y1 to 20Y2 indicate a favorahle or unfavorahla change?
Financial statement data for years ending December 31 for Schultze-Solutions Company follow: 20Υ2 20Υ1 Sales $1,848,000 $1,881,000 Accounts receivable: Beginning of year 195,300 184,700 End of year 224,700 195,300 a. Determine the accounts receivable turnover for 20Y2 and 20Y1. If required, round the final answers to one decimal place. Accounts Receivable Turnover 2ΟΥ2 20Υ1 b. Determine the days' sales in receivables for 20Y2 and 20Y1. Use 365 days, if required round the final answers to one decimal place. Days' Sales in Receivables days 20Υ2 days 20Υ1 nd the davs' eales in rereivahles from 20Y1 to 20Y2 indicate a favorahle or unfavorahla change?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 9E
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