Compute the accounts receivable turn over

Assignment Help Accounting Basics
Reference no: EM132234170

Question - The following selected data were taken from the records of Delta Company:

 

Beginning

Ending

Accounts receivable - net

60,000

40,000

Inventory

55,000

65,000

Sales (All on credit)

 

600,000

Cost of goods sold

 

360,000

Required:

A. Compute the following ratios:

1. Accounts receivable turn over

2. Average collection period

3. Inventory turnover

4. Days sales in inventory

B. Delta's credit term is 2/10, n/30. The industry average inventory turnover is 8 times. Comment on Delta's efficiency in managing its accounts receivable and inventory.

Reference no: EM132234170

Internal controls over the sales cycle

Evaluate Greenwood's internal controls over the sales cycle, and make suggestions for improvements in the internal controls for its sales cycle this needs to be in total 400

Critical analysis of accounting research case

Critical analysis of accounting research case - You are also required to review the literature that highlighted the factors that impede students from choosing accounting as

The obligation by issuing a long-term note

(a) If Burr refinances the obligation by issuing a long-term note on February 14 and using the proceeds to pay off the note due February 15, how much of the $500,000 should

What was opcs total payroll cost for january

What was OPCs total payroll cost for January? Will the carrying value of the bond increase or decrease after recording interest in February? What is the interest payment OPC w

Calculate firm ls average stockholders equity

Firm L had net assets at the end of the year of $365,000. The only transactions affecting stockholders' equity during the year were net income of $56,000 and dividends of $26,

Variable costing-absorption costing

You are the vice president of operations for a small manufacturing company that uses the absorptive method of accounting for fixed manufacturing overhead, and you are approa

University to avoid accounting recognition

Which of the following is not a condition that would permit a public college or private college or university to avoid accounting recognition of the value of its collections

Exercise personal judgment

The accountant is bound to inform officials only if she stands to personally gain (make money) from knowledge of the illegal act. The accountant must exercise personal judgm

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd