Solution-Compute the accounts receivable turnover

Compute the accounts receivable turnover

Assignment Help Accounting Basics

Reference no: EM132476841

Question - Selected data from Stuart Company follow:

Balance Sheets As of December 31
	2018	2017
Accounts receivable	$397,000	$379,000
Allowance for doubtful accounts	(19,850)	(15,160)
Net accounts receivable	$377,150	$363,840
Inventories, lower of cost or market	$478,500	$431,000

Income Statement For the Years Ended December 31
	2018	2017
Net credit sales	$2,012,000	$1,755,000
Net cash sales	416,000	308,000
Net sales	2,428,000	2,063,000
Cost of goods sold	1,608,000	1,428,000
Selling, general, and administrative expenses	240,500	215,200
Other expenses	40,100	22,800
Total operating expenses	$1,888,600	$1,666,000

Required -

A. Compute the accounts receivable turnover for 2018.

B. Compute the inventory turnover for 2018.

C. Compute the net margin for 2017.

Reference no: EM132476841

Questions Cloud

Growth of a nations standard of living : Property rights, how important is this for the growth of a nations standard of living?

Explain different ways in which californians can practice : List ALL of the differences between the U.S. federal government and the California state government in terms of the three branches (legislative, executive).

Calculate the optimal number of dozens of product to make : Complete dozen, so make sure the changing cells are integers. Use Solver to calculate the optimal number of dozens of product to make.

Explain competing solutions to the problem : Explain two competing solutions to this problem while addressing the responsibilities of each level of government (federal, state, and local) and the three.

Compute the accounts receivable turnover : Question - Selected data from Stuart Company. Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018

What are the strengths of transformational leadership theory : What are the strengths and weakness of transformational leadership theory and leader-member theory (LMX)? How might your knowledge of the LMX theory help you.

Does the given website depict your topic accurately : Summarize the website and describe the important information presented. How does the information you find in the website compare to the information you have.

Determine what the companys internal growth rate is : If the directors expect to continue paying dividends amounting to 40% of earnings, Determine What the company's internal growth rate (IGR) is

Relationship between population increases and climate change : What is the relationship between population increases and climate change? Do you think fertility control is an effective strategy to halt climate change? Why?

User Account

All Pages

Compute the accounts receivable turnover

Reference no: EM132476841

Reference no: EM132476841

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