Peartree Company Provides the Following Data Additional Information:
• Net Sales (All on Account): $240,000
•

question 46

Multiple Choice

Peartree Company provides the following data:
$$\begin{array} { | l | r | r | } \hline \text { BALANCE SHEET } & \text { Dec 31,2014 } & \text { Dec 31,2013 } \\\hline \text { Cash } & \$ 21,000 & \$ 18,000 \\\hline \text { Accounts receivable, net } & 31,000 & 35,000 \\\hline \text { Inventory } & 53,000 & 25,000 \\\hline \text { PP\&E, net } & 120,000 & 90,000 \\\hline \text { Total assets } & \$ 225,000 & \$ 168,000 \\\hline\end{array}$$
Additional information:
• Net sales (all on account) : $240,000
• Cost of goods sold: $110,000
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How much is the accounts receivable turnover for 2014?

• A) 7.27
• B) 0.76
• C) 1.55
• D) 7.07

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Definitions:

Chemical Companies

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Colonization

The process by which a central system of power dominates the surrounding land and its components, often involving the settling of its population in a new area.

Cold War

A period of geopolitical tension between the Soviet Union and the United States and their respective allies, the Eastern Bloc and the Western Bloc, after World War II, characterized by political, military, and economic competition.

Chicago Freedom Movement

A historic campaign during the 1960s in Chicago, aiming to challenge racial segregation, discrimination, and improve housing, education, and employment opportunities for African Americans.