Solved

The Following Information Is from the Annual Financial Statements of Duke

Question 48

Essay

The following information is from the annual financial statements of Duke Company.
201120102009 Net Sales $385,000$308,000$255,000 Accounts Receivable, net (year-end) 57,50054,00044,700\begin{array}{lrrr}&2011&2010&2009\\\text { Net Sales } & \$ 385,000 & \$ 308,000 & \$ 255,000 \\\text { Accounts Receivable, net (year-end) } & 57,500 & 54,000 & 44,700\end{array}
The following information is from the annual financial statements of Duke Company. \begin{array}{lrrr} &2011&2010&2009\\ \text { Net Sales } & \$ 385,000 & \$ 308,000 & \$ 255,000 \\ \text { Accounts Receivable, net (year-end) } & 57,500 & 54,000 & 44,700 \end{array} Calculate the accounts receivable turnover ratio for 2010 and 2011.
Calculate the accounts receivable turnover ratio for 2010 and 2011.

Correct Answer:

verifed

Verified

2010: 308,000/((54,0...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q41: The use of an allowance for bad

Q43: Temper Company has credit sales of

Q45: The accounts receivable turnover is calculated by

Q51: Prepare general journal entries for the

Q52: Timmons Company had a January 1,credit

Q90: The maturity date of a note receivable<br>A)

Q112: Hasbro had net sales of $7,875 and

Q129: Receivables can be used to obtain cash

Q139: Electron borrowed $75,000 cash from TechCom by

Q171: A payee of a note will always