Solution-Turnover ratios for accounts receivable and

Turnover ratios for accounts receivable and inventory

Assignment Help Accounting Basics

Reference no: EM13522233

Turnover Ratios for Accounts Receivable and Inventory

Ken's and Den's Recreational Products,Inc., reports the following information in its 2000 financial statements:

	Balance (dollars in millions)
	January 1, 2000	December 31, 2000
Accounts receivable (gross)	$14	$12
Allowance for uncollectible accounts	1	2
Inventory	20	26
During 2000:
Sales		80
Cost of goods sold		55

Required

Determine Ken's and Den's accounts receivable collection period ratio and the number of days' sales in ending inventory during 2000.

Reference no: EM13522233

Questions Cloud

The american political system in place today : 1. Provide three (3) examples of how federalism has evolved from its origins to the American political system in place today.

How much is the time measured by an astronaut : How much is the time measured by an astronaut in a spaceship for a class on the Earth that lasts for one hour (the time measured on the Earth),

Write a report for alcenons management : Write a report for Alcenons management to explain what conditions must be present for Alcenon to be able to account for this lease as an operating lease.

How to calculate a predicted pi value for aspartame : This leaves the aspartic acid amine group and the side chain carboxylic acid functional group of aspartic acid. Find the values for these two groups of as partic acid and calculate a predicted pI value for aspartame

Turnover ratios for accounts receivable and inventory : Determine Kens and Dens accounts receivable collection period ratio and the number of days' sales in ending inventory during 2000.

Explain the ph of a solution that is 0.30 m in aniline : What is the pH of a solution that is 0.30 M in aniline, C6H5NH2, and 0.15 M in anilinium chloride, C6H5NH3+Cl-? (Kb = 4.2 × 10-10 for aniline) Aniline ionizes as: C6H5NH2 + H2O C6H5NH3+ + OH-

Determine amount of net income reported by blunt for 2001 : Working from Operating Cash Flows to Net Income Based on the above information, determine the amount of net income reported by Blunt for 2001.

Find the speed of the electron after the collision : An electron with a speed of 4.00×10^6 m/s , collides with an atom. What is the speed of the electron after the collision

Find the frequency of the photon that is emitted : An electron is in a certain energy state in a one-dimensional, infinite potential well from x = 0 to x = L = 200pm. What is the frequency of the photon that is emitted

User Account

All Pages

Turnover ratios for accounts receivable and inventory

Reference no: EM13522233

Reference no: EM13522233

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