Determine the accounts receivable turnover

Assignment Help Financial Accounting
Reference no: EM132741474

Problem - Financial statement data for years ending December 31 for Robinhood Company follow:

 

20Y9

20Y8

Sales

$7,906,000

$6,726,000

Accounts receivable:



 Beginning of year

600,000

540,000

 End of year

580,000

600,000

Required -

a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.

b. Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.

c. Does the change in accounts receivable turnover and the days' sales in receivables from 20Y8 to 20Y9 indicate a favorable or unfavorable change?

Reference no: EM132741474

Questions Cloud

Determine the annual depreciation expense in each year : Firefall Company acquired equipment for use in operations at a cost of $340,000. Determine the annual depreciation expense in each year
How much non-free trade credit does the firm use on average : A firm buys on terms of 2/10, net 30, but generally does not pay, How much "non-free" trade credit does the firm use on average each year?
How each of these strengths could be used to further career : Identify three strengths that you possess. Provide specific examples of how each of these strengths could be used to further your career.
Find how much total interest will be paid at end of the year : Compounded semi-monthly and will be paid together with the principal at the end of the year. How much total interest will be paid at the end of the year?
Determine the accounts receivable turnover : Financial statement data for years ending December 31 for Robinhood Company follow: Determine the accounts receivable turnover
What is the effective annual interest on the joan : Tuesta borrowed P100,000 from a bank a one year 8% term loan with interest compounded quarterly. What is the effective annual interest on the Joan?
Strategic budgeting : Explain the value of preparing a contribution income statement.
Relationship between research and social change : Analyze alignment among the theory, research problem, and purpose. Explain your position on the relationship between research and social change.
Find what is the net result of implementing proposed plan : The average collection period is expected to increase to 40 days from 30 days, What is the net result of implementing the proposed plan?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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