Solution-Compute the accounts receivable turnover in 2015

Compute the accounts receivable turnover in 2015

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Reference no: EM13829282

The following data is given:

	December 31
	2015	2014
Cash	$66,000	$50,000
Accounts receivable (net)	90,000	60,000
Inventories	90,000	110,000
Plant assets (net)	383,000	325,000
Accounts payable	55,000	40,000
Salaries and wages payable	10,000	5,000
Bonds payable	70,000	70,000
8% Preferred stock, $40 par	100,000	100,000
Common stock, $10 par	120,000	90,000
Paid-in capital in excess of par	80,000	65,000
Retained earnings	194,000	175,000
Net credit sales	900,000
Cost of goods sold	700,000
Net income	81,000

Compute the following ratios:

(a) Add-test ratio at 12/31/15

(b) Accounts receivable turnover in 2015

(d) Profit margin on sales in 2015

(e) Return on common stock equity in 2015

(f) Book value per share of common stock at 12/31/15

Reference no: EM13829282

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Compute the accounts receivable turnover in 2015

Reference no: EM13829282

Reference no: EM13829282

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