The Following Selected Company Information Was Reported Calculate the Following Company Ratios:
(A)Accounts Receivable Turnover

question 79

Essay

The following selected company information was reported:
$$\begin{array} { | l | r | } \hline \text { Accourits receivable, begirning-year } & \$ 170,000 \\\hline \text { Accourts receivable, year-end } & 190,000 \\\hline \text { Merchardise irventory, begirning-year } & 80,000 \\\hline \text { Merchardise irventory, year-end } & 60,000 \\\hline \text { Cost of goods sold } & 580,000 \\\hline \text { Credit sales } & 1,000,000 \\\hline\end{array}$$
Calculate the following company ratios:
(a)Accounts receivable turnover.
(b)Inventory turnover.
(c)Days' sales uncollected.

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Definitions:

Sampling Error

The error caused by observing a sample instead of the whole population, leading to potential differences between the sample statistic and population parameter.

Population Mean

The average of all the data points in a population.

Simple Random Samples

A sampling method in which every individual or item from a population has an equal chance of being selected.

Population Size

The total number of individuals or elements that make up the population being studied or analyzed.