The Following Selected Financial Information for a Company Was Reported

question 160

Essay

The following selected financial information for a company was reported for the current year end.Calculate the following company ratios:
(a)Accounts receivable turnover.
(b)Inventory turnover.
(c)Days' sales uncollected
Accounts receivable,beginning-year……………. $170,000
Accounts receivable,year-end…………………… 190,000
Merchandise inventory,beginning-year…………. 80,000
Merchandise inventory,year-end………………… 60,000
Cost of goods sold………………………………... 580,000
Credit sales………………………………………... 1,000,000

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Definitions:

Social Control

Mechanisms, strategies, and institutions by which societies regulate individual behavior and maintain social order, ranging from laws to social norms.

Domestic Violence

Forms of abuse that occur within domestic settings, typically involving a pattern of abusive behavior by one partner against another in an intimate relationship.

Predictor

A variable or factor that can be used to forecast future outcomes or trends.

Neighborhood Factors

Elements within a community that influence individuals' lifestyle, behavior, and opportunities, including socio-economic status, infrastructure, and community relations.