Find what the receivables turnover was

Assignment Help Managerial Accounting

Reference no: EM132706245

Problem 1: Baguio Hardware Store had net credit sales of P6,500,000 and cost of goods sold of P5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The receivables turnover was

Group of answer choices

A. 10.0 times

B. 9.3 times.

C 7.7 times.

D. 10.8 times.

Reference no: EM132706245

Questions Cloud

Calculate the company accounts receivable turnover ratio : Andrew Peller Limited, Calculate the company's accounts receivable turnover ratio and the average collection period for accounts receivable in days.

Prepare the journal entries to record sale of the produce : The fair value of the apple trees at 30 June 2018 was $580 000 and, at 30 June 2019, $650 000. Prepare the journal entries to record sale of the produce

How long is the payback period for this project : The company plans to fund the purchase of the new machine using a bank loan with an interest rate of 13%. How long is the payback period for this project

Construct framework for integrated strategic marketing plan : Construct the framework for an integrated strategic marketing plan as it relates to an organisation operating in the chosen sector of the economy

Find what the receivables turnover was : The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. What The receivables turnover was

What is the journal entry to record the receipt of cash : The magazines will be delivered on the 1st of each month, starting April 1. What is the journal entry to record the receipt of cash from the customer

What should be balance in allowance for doubtful accounts : Seven Seas Company's estimated period-end uncollectible accounts are $45,000. What should be the balance in the allowance for doubtful accounts after adjustment

What are the procedures to mitigate these risks : Cash from ticket sales will be kept in a designated locked box in the office. What are the procedures to mitigate these risks

Compute the amount that should be reported : In each case, compute the amount that should be reported in the operating activities section of the statement of cash flows under the direct method

User Account

All Pages