Sales for the year were 1000000 half of which were on

Reference no: EM13600007

Sales for the year were $1,000,000, half of which were on credit. The average gross profit rate was 50 percent on sales. Account balances follow:

Beginning Ending
Accounts receivable (net) 45,000 60,000
Inventory 70,000 25,000

Required: Compute the turnover for the accounts receivable and inventory, the average age of receivables, and the average days' supply of inventory. Show work.

Reference no: EM13600007

Questions Cloud

What is the amount of the payments that ned winslow must : using the appropriate interest table provide the solution to each of the following four questions by computing the

Equity corp paid a consultant to study the desirability of : equity corp. paid a consultant to study the desirability of installing some new equipment. the consultant recently

Abc company has the following costs related to its : abc company has the following costs related to its manufacturing process supervisor salaries 100000 utilities 30000

Abc company has an effective tax rate of 40 if they have : abc company has an effective tax rate of 40. if they have fixed cost of 30000 and want an after tax profit of 65000

Sales for the year were 1000000 half of which were on : sales for the year were 1000000 half of which were on credit. the average gross profit rate was 50 percent on sales.

Upward stock splits are different from stock dividends but : upward stock splits are different from stock dividends but both of them result in an increase in the number of

Scudder company has two operating departments mixing and : scudder company has two operating departments mixing and forming. mixing has 240 employees and occupies 22000 ftsup2.

Another student in your accounting class says that as she : another student in your accounting class says that as she understands it most long-term liabilities on the balance

What would you expect to be the total cost of providing : through using the high-low method regency hotels estimates the total costs of providing room service meals to amount to

User Account

All Pages

Sales for the year were 1000000 half of which were on

Reference no: EM13600007

Reference no: EM13600007

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

Laurie vaden is a physician with her own practice she has

Prove the accuracy of the subsidiary ledgers

Primary motivation for business combinations

Dakota manufacturing inc normally produces 10000 units of

Rolandos employer pays year-end bonuses each year on

Siburo company issued 300000 11 10-year bonds on january 1

Company total contribution margins

What is the term used to describe the owners equity

Gerald compensation agreement

Refer to the above data windsor uses the balance sheet

A company uses a process cost accounting system its sewing

What was jolley net income for the period

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT