Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover? a. 250.000/40.000 b. 40.000/ 200.000 c. 40.000/250.000 d. 200.000/ 40.000

Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover? a. 250.000/40.000 b. 40.000/ 200.000 c. 40.000/250.000 d. 200.000/ 40.000

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

See similar textbooks

Related questions

Q: Calculate the value of cost of goods sold for Thompson company given the following information:…

A: Quick Ratio = Liquid Assets / Current Liabilities Current Ratio = Current Assets/ Current…

Q: Income statement in $ Sales COGS Gross profit 300000 Operating expenses 200000 EBIT Interest…

A: The cost of goods sold is the cost of producing or acquiring the goods sold during the year. Direct…

Q: The following information is available for the current year: Cost Retail 650,000 9,000,000 200,000…

A: Perpetual inventory system: It is the inventory system that record each transaction of purchase…

Q: Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and…

A: Sales = OMR 20000 Cost of goods sold = OMR 8000 Return inwards = OMR 6000 Net sales = Sales-Return…

Q: The following information is available for the current year: Cost Retail 650,000 9,000,000 200,000…

A: Under the FIFO method, the Retail ratio cost is calculated by taking the values of purchases.…

Q: Smith company sold inventory that cost $5000 for $9000 cash. Freight cost was $600 paid in cash.The…

A: FOB Destination: The seller pays the freight charges. FOB Shipping: The buyer pays the freight…

Q: The cost of goods sold was computed at P12.250. Total sales for the year were P42950. of which…

A: Inventory Turnover Ratio = Cost of goods sold / Average Inventory Average Inventory = ( Beginning…

Q: If the sales are 105000 $ and cost of goods sold is 45000 $. Current/noncurrent rate method is used.…

A: Income statement is a financial statement which shows income and expenses of the business. All…

Q: If the total sale is P125,750.00, the cost of sales is 42.25% of the total sales, and the operating…

A: Total sales = P125,750.00 Cost of sales = 42.25% Operating expenses = P15,429.30

Q: Calculate the gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and…

A: Net sales = Sales - Return inwards = 10000 - 4000 = 6000

Q: Find the gross margin percent when: Gross sales 435,000 Customer returns and allowances 49,000…

A: Net Sales = Gross Sales - Customer returns and allowances = 435,000 - 49,000 = 386,000 Gross…

Q: The quick ratio is 1.7 while the current ratio is 2.5. The current liabilities amount to PHP5,000.…

A: Here, Quick Ratio is 1.7 Current Ratio is 2.5 Current Liabilities is PHP5,000 Cost of Good Sold is…

Q: Given financial information of MEM's Merchandising Co.: Average accounts receivable = P90,000.00,…

A: Net sales = P 2,000,000 Gross profit margin = 25% Average accounts payable = P 700,000

Q: 4. The records of Ree-ree Co. show the following information: Increase in Accounts Payable…

A: The cost of goods sold is calculated as: Opening inventory + Purchases - Ending inventory

Q: Cost of Goods Sold Accounts Payable Turnover Average Accounts Payable Company Is paylng suppllers In…

A: Account payable turnover ratio = The accounts payable turnover ratio, also known as the payables…

Q: 1. Current assets is P20,000, current liabilities is P30,000. What is the current ratio? 2.…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Ameen traders have reported annual sales of OMR 15000, Carriage inwards of OMR 1000, Sales discount…

A: Net sales will be calculated after deduction of discount, allowance and sales return from annual…

Q: For the goods purchased by the business, the Availability of Goods at the Beginning of the Period is…

A: Cost of goods sold means actual cost of goods that are being sold to the customers.

Q: What's More A. Directions: Below is the summarized Compute the following. V sheet of paper. 1.…

A: The question is based on the concept of Financial Accounting. As per the Bartleby guidelines we are…

Q: Calculate the gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and…

A: Sales return = Return inwards = OMR 4000 Net sales = Sales - Sales return = OMR 10000 - OMR 4000 =…

Q: What will be the effect of the following on Trade Receivable Turnover Ratio (DTR) and Inventory…

A: In the problem we will calculate the inventory Turnover Ratio form the given information in the…

Q: 7YReferring to the following table, what is Net sales revenue? Sales revenue $460,000| Cost of goods…

A: Formula: Net sales revenue = Sales revenue - Sales discounts - Sales returns and allowances

Q: Calculate gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and…

A: given Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 4000.

Q: Ameena traders have reported annual sales of OMR 15000, Carriage inwards of OMR 1000, Sales discount…

A: Net sales refer to the amount of sales after deducting the discount and returns from the gross…

Q: Net sales Cost of goods sold $ 180,000 124,000

A: Ratio analysis is a technique to know the liquidity, profitability and operational efficiency of the…

Q: 7)Refemng to the following table, what is Net sales revemue? $460,000 Sales revenue Cost of goods…

A: Formula: Net sales revenue = Sales revenue - sales discounts - sales returns and allowances

Q: 1) What is the amount of cost of goods sold for the current period? A. 4,800,000 В. 4,720,000 C.…

A: The question is based on the concept of Cost Accounting. As per Bartleby guidelines we are allowed…

Q: Given : Avarege trade receivables of a firm is 40.000 , average finished goods is 50.000 , cost of…

A: The trade receivables turnover ratio, also known as the accounts receivable turnover ratio, is an…

Q: A compeny's net sales were S676,600, its cost of goods sold was $236,810 and its net income was…

A: Gross margin in the business is sales revenue which is over and above it's, cost of goods sold.…

Q: Given this information, what is the profit percent? Format your answer to two decimal places and…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: If Finished Goods Turnover is 5 , average Trade Receivables is 100.000, average Finished Goods is…

A: Finished Goods Turnover = Cost of goods sold / Average finished goods

Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…

A: Gross profit is the profit a company makes after deducting the costs associated with making and…

Q: Furchases $250,000 Cost of goods sold 250,000 Eeginning balance 30,000 Ending balance ?

A: Cost of goods sold = Beginning inventory + Purchases - Ending inventory Ending inventory = Beginning…

Q: GB SalesRevenue 16800 Purchases 12800 Gross…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: Sales $24,350,735 Cost of goods sold 15,300,000 Gross margin $9,050,735 Operating expenses 4,910,685…

A: Times Interest Earned Ratio or TIE, measures the firm's ability to meet its debt obligations on a…

Q: Selected XYZ financials (in dollars) Gross income 25,240,000 24,324,000 18,785,000 2,975,000…

A: Inventory turnover ratio = Cost of goods sold/Average inventory Cost of goods sold = 12,600,000…

Q: Calculate gross profit from the following? Sales OMR 25000, Cost of goods sold OMR 15000 and Return…

A: Given Sales = 25000 Cost of goods sold = 15000 return inward =5000

Q: Ameena traders have reported annual sales of OMR 15000, Carriage inwards of OMR 1000, Sales discount…

A: Sales revenue: It is the revenue earned by an organization on selling the products to the outsiders.

Q: Calculate gross profit from the following? Sales OMR 50000, Cost of goods sold OMR 30000 and Return…

A: Formula: Net sales = Sales - return inwards Deduction of return inwards from sales derives the net…

Q: How much is the gross profit variation due to sales quantity factor?

A: Gross profit variation: The gross profit variation is the variation or difference between the…

Q: Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were…

A: Cost if goods = Invoice value /(1+ markup) = 240000/(1+0.2) = R200,000

Q: Given the following items , compute the required ones. REQUIRED COST OF SALES GIVEN Asset Turnover :…

A: In accounting, a ratio is used to evaluate the company's financial performance by establishing the…

Q: Common-size and trend percents for Rustynail Company's sales, čost of goous Common-Size Percents 1…

A: Net Income- The net income is the amount left over after all deductions have been made. The…

Q: Calculate gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return…

A: Costs incurred directly by a corporation for producing goods and services are known as cost of goods…

Q: Alfiya trading Company announces annual Sales of OMR 30000, Carriage inwards of OMR 2000, Sales…

A: Net sales = Sales - Sales discount - Sales returns

Q: Pertaining below is information pertaining to Polyphemos Corporation: Cost P 24,000 190,000 26,000…

A: In the Average cost method of inventory valuation, the Cost-to-retail percentage is computed for all…

Q: Consider the following information for costing purposes: Sales P80,000; Opening Inventory P10,000;…

A: Cost of goods sold in the business means total cost of goods that are being sold to the ultimate…

Question

Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover?

a. 250.000/40.000

b. 40.000/ 200.000

c. 40.000/250.000

d. 200.000/ 40.000

==========

5. Activity Ratios are used in the assessment of
a) The financial risk of the company
b) the profitability of the assets
c) the short term debt repayment capacity of the firm

d)the efficiency of the asset or the source analyzed

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1: Introduction

VIEW

Step 2: Trade receivable turnover ratio

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.

Similar questions

Given:Avarege trade receivables of afirm is40.000,average finished goodsis 50.000, cost of goods sold is 200000 and net sales is 250.000. Whatis trade receivables turnover? a. 250.000/40.000b. 40.000/ 200.000c. 40.000/250.000d. 200.000/ 40.000==========5. Activity Ratios are used in the assessment ofa) The financial risk of the companyb) the profitability of the assetsc) the short term debt repayment capacity of the firmd)the efficiency of the asset or the source analyzed
Given : Avarege trade receivables of a firm is 40.000 , average finished goods is 50.000 , cost of goods sold is 200.000 and net sales is 250.000 . What is trade receivables turnover? a) 40.000 / 250.000b) 40.000/ 200.000c) 250.000 / 40.000d) 200.000/ 40.000
Calculate gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 4000. a.OMR 24000 b.OMR 20000 c.OMR 8000 d.OMR 12000
Calculate the gross profit from the following? Sales of OMR 20000, Cost of goods sold OMR 8000 and Return inwards OMR 6000, Return outwards 4000, Purchases 15000. a. OMR 5000 b. OMR 8000 c. OMR 6000 d. OMR 12000
Calculate the gross profit from the following? Sales OMR 10000, Cost of goods sold OMR 4000 and Return inwards OMR 4000, Return outwards 2000, Purchases 5000.
The following accounting records reveal: A/R, beg. P100,000 Iny, beg. P50,000 Purchases P90,000 Purchases Discount P5,000 Collections P200,000 How much is the vatable sales? a. P250,000 b. P240,000 How much is the output vat? a. P27, 600 b. P28,800 A/R, end Iny, end Sales Sales Return Cost of Sales. c. P230,000 c. P30,000 P110, 000 P60,000 P250,000 P10,000 P70,000 d. P24,000 d. P200,000
If average inventory is P80,000 and the inventory turnover ratio is 20, how much is the cost of goods sold of the company? * O P1,600,000 O P4,000 O .00025 P80,020
Sales $ 450000 ; Sales returns $ 50000 ; cost of goods sold $ 200000 Determine the values of Net sales and Gross profit with two serial numbers independent.
If Finished Goods Turnover is 5 , average Trade Receivables is 100.000, average Finished Goods is 80.000 a) Cost of the goods sold 500.000 ₺b) Net Sales is 500.000₺c) Cost of the goods sold 400.000₺d) Net Sales 400.000₺
The following information is available for Cooke Company for the current year: The gross margin is 40% of net sales. What is the cost of goods available for sale? a. 5840,000 b. 960,000 c. 1,200,000 d. 1,220,000
Calculate the missing values and express your answers rounded to two decimal places. Cost Amount ofMarkup SellingPrice Rate of Markupon Cost Rate of Markupon Selling Price a. $260.00 25.00% % b. $60.00 % 30.00%
Q36 Goods of the Invoice value R240 000 sent out to consignee at 20% profit on cost. If all goods were sold, what would be the gross amount? Select one: a. R48 000 b. R50 000 c. R40 000 d. R33 333