Accounts receivable turnover for organization

Assignment Help Accounting Basics
Reference no: EM13138170

Assume an organization has total current assets of $200,000, total current liabilities of $75,000, inventories of $50,000, prepaid expenses of $25,000, net sales of $770,000, and beginning accounts receivable of $42,000 and ending accounts receivable of $44,000. What is the accounts receivable turnover for this organization.

Reference no: EM13138170

Questions Cloud

Costs of rent and utilities : Imagine a invester has increased your budget by $22,500. The investor does not need to be repaid. Rather, he becomes part owner of your business. Will the investor contribute enough money to meet the costs of rent and utilities? Support your answe..
Basics of cash flows from financing activities : Which of the following would be included in cash flows from financing activities?
Cash inflow from investing activities : How many of the above items will appear as a cash inflow from investing activities on a statement of cash flows for the current year?
What is the net amount to be paid the employee : hours worked, 48; federal income tax withheld, $341; cumulative earnings for year prior to current week, $96,780; social security tax rate, 6.0% on maximum of $103,004; and Medicare tax rate, 1.5% on all earnings. What is the net amount to be paid..
Accounts receivable turnover for organization : Assume an organization has total current assets of $200,000, total current liabilities of $75,000, inventories of $50,000, prepaid expenses of $25,000, net sales of $770,000, and beginning accounts receivable of $42,000 and ending accounts receiva..
Company break-even point in dollar sales : Scott Company's variable expenses are 70% of sales. The company's break-even point in dollar sales is $2,420,000. If sales are $53,000 below the break-even point, the company would report a:
Market price of the stock : The company issued to the stockholders 100,000 rights. Ten rights are needed to buy one share of stock at $34. The rights were void after 30 days. The market price of the stock at this time was $36 per share.
What would be the necessary journal entry : On December 31, 2007, Drew Company issued $170,000, five-year bonds for $155,000. The stated rate of interest was 6 percent and interest is paid annually on December 31. What would be the necessary journal entry?
Financial leverage characteristic of long-term debt : The financial leverage characteristic of long-term debt results in:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Provisions regarding the division of net income

Xavier and Yolanda have original investments of $50,000 and $100,000 respectively in a partnership. The articles of partnership include the following provisions regarding the division of net income:

  Report of the income statement

Jill reported a net loss of $6 million for the year. What amount of loss should Jack report in its income statement for 2011 relative to its investment in Jill?

  Purpose of the cut-off audit objective

What is the purpose of the CUT-OFF audit objective as applied to ACCOUNTS RECEIVABLE?

  Financial statement analysis

ACCT212 Project 2: Financial Statement Analysis-YUM! Brands, Inc.  Description: Using the financial statements for YUM! Brands, Inc. located in Appendix A of your Textbook, you will calculate Vertical and Horizontal Analysis and the Financial Ratios ..

  Inferences of possible interest to a stockbroker

What are some inferences of possible interest to a stockbroker? How would the reliability of the inferences be assessed?

  Determining the amount of ordinary income

The corporation elected S corporation status at the starting of 2011. On February 13, 2012, the property was sold for $40,000, payable in 4 yearly instalments of $10,000 plus interest. What is the amount of ordinary income to be reported from the s..

  Consolidations and business combination promulgations

Analyze how consolidations and business combination promulgations affect off-balance sheet manipulations. Include research on the development of consolidations and business combination promulgations.

  Prepare a sales budget for the third quarter of the year

Keep-it-Hot Inc. manufactures popular thermoses. On June 30, the company had 1,000 thermoses in inventory. Each thermos sells for $8.00. The company's policy is to maintain a thermos inventory equal to 10% of next month's sales.

  What was the fixed overhead spending variance

Patel and Sons, Inc., uses a standard cost system to apply overhead costs to units produced. Practical capacity for the plant is defined as 50,000 machine-hours per year, which represents 25,000 units of output.

  Year-end market price of share

Ralite Company had net income for the year of $20 Million. It had 2 Million sharees of comon stock outstanding, with a year-end market price of $82 a share. Dividends during the year were $5.74 a share.

  Accounting principles in performing an audit

Auditors must be concerned with both generally accepted auditing standards and generally accepted accounting principles in performing an audit.

  Show the computation of expenses on the accrual basis

Expenses paid during 2008 were $80,000. Expenses paid in advance were $4,000 as at December 31, 2007, and the balance of expenses paid in advance was $8,000 as at December 31, 2008.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd