Solution-Compute the accounts receivable turnover for year

Compute the accounts receivable turnover for year

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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

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Compute the accounts receivable turnover for year

Reference no: EM132783860

Reference no: EM132783860

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