Calculate the accounts receivable

Assignment Help Financial Accounting
Reference no: EM132479197

Question i) Explain the importance of analyzing Financial Statements through Ratios.

Question ii) Albert Ltd sells goods on cash as well as credit. The following particulars are extracted from their books of account.

Total Gross sales                   $100,000

Cash sales (included in above) $ 20,000

Sales returns                        $ 7,000

Accounts Receivable               $ 11,000

Accounts Payable                   $ 10,000

Calculate : Accounts Receivable Turnover and Average Collection period ratios.

Reference no: EM132479197

Questions Cloud

Homozygous brown-eyed man and a blue-eyed woman : Could a homozygous brown-eyed man and a blue-eyed woman have a blue-eyed daughter? Why?
Present division of net income section of income statement : Assuming that the net income had been $65,000 instead of $110,000, present the Division of net income section of the income statement for the current year.
What are the three phases of materiality process : What are the three phases of materiality process? According to AS 11, how can an auditor establish materiality levels for particular accounts or disclosures?
Identify a human genetic disease : Discuss one way to identify a human genetic disease.
Calculate the accounts receivable : Explain the importance of analyzing Financial Statements through Ratios. Calculate the Accounts Receivable Turnover and Average Collection period ratios.
Give three reasons why the population of bison : Give three reasons why the population of bison in Banff National Park might NOT be in Hardy-Weinberg equilibrium.
What is the process of cellular death : What is the process of cellular death and why is there calcium accumulation, plasma membrane accumulation and lysosome leakage?
What ratio is net income to be divided : Devotes half time to the partnership. If no other information is available regarding distributions, in what ratio is net income to be divided?
Define unemployment : Why do new classical economists argue that in the long run aggregate demand can only affect the price level? Use a diagram to illustrate your answer

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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