Question

Problem 2

 

 

 

             

 

 

 

 

 

             

Required: Compute (1) accounts receivable turnover for 2014 and (2) the inventory turnover for 2014.

             

(20 points)

 

 

 

 

 

2014

2013

 

Balance sheet items

 

 

 

 

 

 

 

 

 

Accounts receivable

$      380,000.00

$      376,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory

$      480,000.00

$      440,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income statement items

 

 

 

 

 

 

 

 

 

Sales

$ 3,400,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

$ 1,600,000.00

 

 

 

 

 

 

 

Problem 2

 

 

 

           

 

 

 

 

 

           

Required: Compute (1) accounts receivable turnover for 2014 and (2) the inventory turnover for 2014.

           

(20 points)

 

 

 

 

 

2014

2013

 

Balance sheet items

 

 

 

 

 

 

 

 

 

Accounts receivable

$      380,000.00

$      376,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inventory

$      480,000.00

$      440,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income statement items

 

 

 

 

 

 

 

 

 

Sales

$ 3,400,000.00

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

$ 1,600,000.00

 

 

 

 

 

 

 

                       

 



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *