Solution-Compute the number of days sales in accounts

Compute the number of days sales in accounts receivable

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Reference no: EM132728275

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Q1. The following information was available for the year ended December 31, 2019:

Sales $300,000

Net income 50,000

Average total assets 750,000

Average total stockholders' equity 500,000

Compute ROE for the year ended December 31, 2019?

a. 20.0%

b. 10.0%

c. 6.7%

d. 16.7%

Q2. The following information was available for the year ended December 31, 2019:

Net sales $300,000

Cost of goods sold 210,000

Average accounts receivable for the year 15,000

Accounts receivable at year-end 18,000

Average inventory for the year 60,000

Inventory at year-end 70,000

Compute the number of days' sales in accounts receivable for 2019, using year- end accounts receivable?

a. 21.9 days

b. 26.1 days

c. 31.1 days

d. 18.3 days

Q3. The following information was available for the year ended December 31, 2019:

Sales $300,000

Net income 50,000

Average total assets 750,000

Average total stockholders' equity 500,000

Compute ROI for the year ended December 31, 2019?

a. 20.0%

b. 16.7%

c. 6.7%

d. 10.0%

Reference no: EM132728275

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Compute the number of days sales in accounts receivable

Reference no: EM132728275

Reference no: EM132728275

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