Question

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.

20Y3 |
20Y2 |
20Y1 |
||||

Accounts receivable, end of year | $113,600 | $120,000 | $128,200 | |||

Sales on account | 747,520 | 732,190 |

**a.** For 20Y2 and 20Y3, determine (1) the
accounts receivable turnover and (2) the number of days' sales in
receivables. Round answers to one decimal place. Assume a 365-day
year.

20Y3 |
20Y2 |
|||

1. Accounts receivable turnover | ||||

2. Number of days' sales in receivables | days | days |

**b.** The collection of accounts receivable
has . This can be seen in both the in
accounts receivable turnover and the in the
collection period.

Answer #1

Accounts Receivable Analysis
The following data are taken from the financial statements of
Sigmon Inc. Terms of all sales are 2/10, n/45.
20Y3
20Y2
20Y1
Accounts receivable, end of year
$135,400
$142,000
$150,000
Sales on account
901,550
861,400
a. For 20Y2 and 20Y3, determine (1) the
accounts receivable turnover and (2) the number of days' sales in
receivables. Round answers to one decimal place. Assume a 365-day
year.
20Y3
20Y2
1. Accounts receivable turnover
2. Number of days' sales in...

Accounts Receivable Analysis
The following data are taken from the financial statements of
Sigmon Inc. Terms of all sales are 2/10, n/45.
20Y3
20Y2
20Y1
Accounts receivable, end of year
$725,000
$650,000
$600,000
Sales on account
5,637,500
4,687,500
a. For 20Y2 and 20Y3, determine (1) the
accounts receivable turnover and (2) the number of days' sales in
receivables. Round interim calculations to the nearest dollar and
final answers to one decimal place. Assume a 365-day year.
20Y3
20Y2
1. Accounts...

Accounts receivable analysis
The following data are taken from the financial statements of
Sigmon Inc. Terms of all sales are 2/10, n/45.
20Y3 20Y2 20Y1
Accounts receivable, end of year $725,000 $660,000 $600,000
Sales on account 5,638,000 4,528,000
This information has been collected in the Microsoft Excel
Online file. Open the spreadsheet, perform the required analysis,
and input your answers in the questions below.
Open spreadsheet
a.) For 20Y2 and 20Y3, determine (1) the accounts receivable
turnover and...

The following data are taken from or calculated from the
financial statements:
Current Year
Preceding Year
Average accounts receivable (net)
$123,000
$95,000
Sales on account
950,000
825,000
a. Assuming that credit terms on all sales are
n/45, determine for each year (1) the accounts receivable turnover
and (2) the number of days' sales in receivables. Round
intermediate calculations to whole numbers and final answers to two
decimal places.
1. The accounts receivable turnover:
Current Year
Preceding Year
2. The number...

Accounts Receivable Analysis
The following data are taken from the financial statements of
Outdoor Patio Inc. Terms of all sales are 2/10, n/60.
Year 3
Year 2
Year 1
Accounts receivable, end of year
$190,200
$204,000
$219,400
Sales
1,123,470
1,100,840
a. For Years 2 and 3, determine (1) the
accounts receivable turnover and (2) the number of days' sales in
receivables. Assume there are 365 days in the year. Round
intermediate calculations to the nearest whole dollar and final
answers...

The following data are taken from the financial statements of
Rainsberger Company. 2018 2017 Accounts receivable (net), end of
year $590,000 $505,000 Net sales on account 4,100,000 3,200,000
Terms for all sales are 1/10, n/60. Compute for each year the
accounts receivable turnover. At the end of 2016, accounts
receivable (net) was $515,000. (Round answers to 1 decimal place,
e.g. 1.6.) 2018 2017 Accounts receivable turnover times times
Compute for each year the average collection period. At the end of...

Accounts Receivable and Inventory Turnover
The following data (in millions) were adapted from recent
financial statements of Apple Inc (AAPL).
Year 2
Year 1
Sales
$233,715
$182,795
Cost of goods sold
140,089
112,258
Operating income
71,230
52,503
Average accounts receivable
33,713
27,816
Average inventory
2,230
1,938
1. Compute the accounts receivable turnover for Years 1 and 2.
Round to one decimal place.
Accounts Receivable Turnover
Year 2
Year 1
2. Compute the number of days' sales in receivables for Years...

Recent financial statements of Larkspur Ship Builders, Inc.
report net sales of $668,500,000. Accounts receivable are
$64,400,000 at the beginning of the year and $90,500,000 at the end
of the year. (Round answers to 2 decimal places, e.g.
50.27. Use 365 days for calculation.)
Compute Larkspur’s accounts receivable turnover.
Accounts receivable turnover
times
Compute Larkspur’s average collection period for accounts
receivable in days.
Average collection period for accounts receivable
days

Assignment title is: Liquidity
The following financial data were taken from the annual
financial statements of Smith Corporation:
2017
2018
2019
Current assets $ 450,000
$
400,000
$ 500,000
Current liabilities 390,000
300,000
340,000
Sales
1,450,000
1,500,000
1,400,000
Cost of sales
1,180,000
1,020,000
1,120,000
Inventory
280,000
200,000
250,000
Accounts receivable
120,000
110,000
105,000
Required:
Based on these data, calculate the following
for 2018 and 2019
Working capital
Current ratio
Acid-test ratio
Accounts receivable turnover
Merchandise inventory turnover
Inventory turnover...

Rosco Co. manufactures
and markets food products throughout the world. The following sales
and receivable data were reported by Rosco for two recent
years:
Year 2
Year 1
Sales
$6,598,835
$6,285,300
Accounts receivable
660,650
646,050
Assume that the
accounts receivable were $551,150 at the beginning of Year 1.
a.
Compute the accounts receivable turnover for Year 2 and Year 1.
Round to one decimal place.
Year 2:
Year 1:
b.
Compute the days' sales in receivables at the end of...

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