Solution-Compute the accounts receivable turnover for year

Compute the accounts receivable turnover for year

Reference no: EM132783860

Question - Selected data for Stick's Design are given as of December 31, Year 1 and Year 2 (rounded to the nearest hundredth).

	Year 2	Year 1
Net Credit Sales	$25,000	$30,000
Cost of Goods Sold	16,000	18,000
Net Income	2,000	2,800
Cash	5,000	900
Accounts Receivable	3,000	2,000
Inventory	2,000	3,600
Current Liabilities	6,000	5,000

Required - Compute the following:

(1) Current ratio for Year 2.

(2) Acid-test ratio for Year 2.

(3) Accounts receivable turnover for Year 2.

(4) Average collection period for Year 2.

(5) Inventory turnover for Year 2.

Reference no: EM132783860

Questions Cloud

What is the platforms impact on photography : In your initial post, consider the following: What is the platform's impact on photography? Have shared human experiences and meaningful content of the.

Determine the consolidated net income : The fair value of S Company's Loans Payable is to be adjusted upward by P20,000. Determine the Consolidated Net Income

What amount of gross revenue : What amount of gross revenue, royalty, severance taxes and net revenue should Tyler Company record for each lease (A-B-C-D-E-F)?

How each of your choices was an effective policy : Explain how each of your choices was an effective policy to thwart international communist expansion. Based on your selections, analyze if the United States.

Compute the accounts receivable turnover for year : Selected data for Stick's Design are given as of December 31, Year 1 and Year 2 - Compute the Accounts receivable turnover for Year

How japanese does manga need to be to be called manga : What is it in relation to other similar forms (that is, comics, graphic novels, story boards, sequential art, etc)? How Japanese does manga need to be to be.

Distinguish ordinary or common stock vs preferred stock : Compare the features of bonds, ordinary equity shares and preferred share in terms of Claims to assets in the event of bankruptcy

Summarize and synthesize the history of the violence : Summarize and synthesize the history of the Violence Against Women Act and feminist organizing around it - Does it seem easy for women

Explain what the art says about the people who created it : Choose any of the early American (native or non-native) cultures that we have studied so far and explain how its art reflects its culture.

User Account

All Pages

Compute the accounts receivable turnover for year

Reference no: EM132783860

Reference no: EM132783860

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT