Calculate the receivables turnover ratio for the year

Assignment Help Finance Basics

Reference no: EM131522362

Question: 1. Universal Sports Supply began the year with an accounts receivable balance of $100,000 and a year-end balance of $120,000. Credit sales of $600,000 generate a gross profit of $200,000. Calculate the receivables turnover ratio for the year.

2. Universal Sports Supply began the year with an inventory balance of $80,000 and a year-end balance of $60,000. Sales of $600,000 generate a gross profit of $200,000. Calculate the inventory turnover ratio for the year.

Reference no: EM131522362

Questions Cloud

Describe homologous and vestigial structures : Describe homologous and vestigial structures, providing an example of each. In addition, explain the evolutionary significance of homologous and vestigial.

Why starchy foods are better to eat : Explain why starchy foods are better to eat in this situation compared to cellulose, in terms of their chemical differences.

What is your willingness-to-listen score : What is your willingness-to-listen score? What feedback did you receive from the quiz? Based on Bevan and Sole, describe active empathic listening.

Defining life in which of the following categories : A scientist discovers a putative new life form and notes that the creature's body is bilaterally symmetrical and consequently satisfies the criteria.

Calculate the receivables turnover ratio for the year : Universal Sports Supply began the year with an accounts receivable balance of $100,000 and a year-end balance of $120,000. Credit sales of $600,000 generate.

Administrator at the centers for disease control : You are an administrator at the Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia. You are informed that a new strain of the flu virus.

What amount of gross profit does the company report : The Intramural Sports Club reports sales revenue of $550,000. Inventory at both the beginning and end of the year totals $100,000.

Modified method for conducting a concept : This assignment presents a modified method for conducting a concept analysis of ONE concept found in a nursing theory.

Discuss the various forms of media covered in the course : Discuss the various forms of media covered in the course and what they reflect Arab culture, social, and political development including print media.

User Account

All Pages