User Account

All Pages

Calculate the average accounts receivable

Assignment Help Accounting Basics
Reference no: EM131763238

Calculate the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in Days

Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following balances:

  January 1 December 31
Accounts receivable $142,650,000 $172,350,000
Inventories     54,374,200     62,625,800

Required:

Note: Round answers to one decimal place. Assume 365 days per year.

1.  Calculate the average accounts receivable.

2.  Calculate the accounts receivable turnover ratio.

3.  Calculate the accounts receivable turnover in days.

Reference no: EM131763238

Questions Cloud

Consider to ensure your work is clear and cohesive : what things must you consider to ensure your work is clear and cohesive?
Functions provided in the oracle functions : Hide Description Select any 3 of the functions provided in the Oracle Functions reading this week. Provide your own unique queries using each of the functions.
Represent the strategic interactions between firm y and z : Represent the strategic interactions between Firm Y and Firm Z in a game tree (i.e. in extensive form). Should Firm Y enter the market
Elder staffs participate more and add value to company : How can elder staffs participate more and add value to a company? How can students adjust to corporate life after graduating and straight to work?
Calculate the average accounts receivable : Calculate the average accounts receivable, Calculate the accounts receivable turnover ratio
There are benefits to desktop virtualization : There are benefits to desktop virtualization but it is not a panacea. What are the benefits and why is it not a panacea?
Discuss peter can legally insist on the balance of the debt : She offered to carry out some work on his business van if he needed it in the next few months. Peter thought about it and agreed and the next day Tilly paid.
Concentric and conglomerate diversification : Discuss the difference between concentric and conglomerate diversification
Implement physical security guidelines : If we wanted to implement physical security guidelines, how would we go about doing so. Where do we start?

Reviews

Write a Review

Accounting Basics Questions & Answers

  Complete the information required below to prepare a

in 2013 the westgate construction company entered into a contract to construct a road for santa clara county for

  Company current dividend yield

The stock of company XYZ is currently price at $80 per share. Its earnings this year (T=0) are $4.00 per share. It has paid out a dividend equal to 40% of its earnings for the past several years. It's Return on Equity (ROE) has been 15%. What is t..

  Prepare an income statement and retained earnings statement

Prepare the adjusted trial balance in the "adjusted and post trial balance" worksheet by transferring the adjusted ending balances from the "Ledger" worksheet - Prepare an income statement and retained earnings statement for January 2015 and a Jan..

  Wendy is evaluating a capital budgeting project that should

wendy is evaluating a capital budgeting project that should last for 4 years. the project requires 800000 of

  Prepare revaluation account and balance sheet of new firm

X and Y are equal partners. On 1st July, 1962, they agree to admit ? as partner. ? is to pay £2,000 as a premium-the money to be left in the business.

  Describe each transaction, and identify the source

The debits and credits from three related transactions are presented in the following customer's account taken from the accounts receivable subsidiary ledger.

  Kenoly corporation owns a patent that has a carrying

kenoly corporation owns a patent that has a carrying amount of 327970. kenoly expects future net cash flows from this

  Nelsons landscaping has 1200 bonds outstanding that are

nelsons landscaping has 1200 bonds outstanding that are selling for 990 each. the company also has 2500 shares of

  Transferring production costs from one department to

which of the following would not require the use of cost behavior analysis?. transferring production costs from one

  Goal of reasserting the region economic position

In Florida, a vacationer could choose from over 200 timeshare resorts. In Vermont, the choice is limited to 15. A resort in Vermont has

  What amount of depreciation exprense would the company

a company purchases equipment for 225000 on july 12009 with an estimated useful life of 10 years and expected salvage

  How would a bond payable be reported on the balance sheet

1. fleeson company needs additional funds to purchase equipment for a new production facility and is considering either

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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