Jones Companys sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending
Question:
Jones Company’s sales are $1,000,000 and 80% of those sales are on credit. The beginning and ending accounts receivable balances are $100,000 and $140,000, respectively.
What is the company’s accounts receivable turnover?
a. 3.33
b. 6.67
c. 8.33
d. 10.67
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Choice b The accounts r...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
ISE Introduction To Managerial Accounting
ISBN: 9781260091755
8th Edition
Authors: Peter Brewer, Ray Garrison, Eric Noreen
Question Posted:
Students also viewed these Business questions
-
I need help on this read from bottom to top. Image transcription text 7"} The second ?nancial statement to prepare is the statement of retained earnings. To determine the ending balance of...
-
The information provided in this test allows you to set up all ledgers for an Ontario company named DERMAL DECOR. Dermal Decor specializes in high quality aesthetic body art with sterile equipment....
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
Perform the indicated operations and then simplify. Assume that all variables represent nonzero real numbers. 20yx3 + 15y4x + 25yx4 10yx
-
To connect a pair of resistors so that their combined (equivalent) resistance will be less than the resistance of either one, should you connect them in series or in parallel?
-
The access code for a cars security system consists of four digits. Each digit can be any number from 0 through 9. How many access codes are possible when 1. each digit can be used only once and not...
-
The Linscott Supply Company employs about 50 production workers. Based on interviews, the factory supervisor hires or rejects job applicants. New hires prepare a W-4 form (Employee's Withholding...
-
Borges Machine Shop, Inc., has a 1- year contract for the production of 200,000 gear housings for a new off- road vehicle. Owner Luis Borges hopes the contract will be extended and the volume...
-
7 Subtract 9 35
-
Jones Companys sales are $1,000,000 and the gross margin percentage is 60%. The beginning and ending inventory balances are $240,000 and $260,000, respectively. What is the inventory turnover? a....
-
Rockford Companys comparative balance sheets for this year and last year and the companys income statement for this year follow: Additional data: 1. This year Rockford paid a cash dividend. 2. The $4...
-
Portugal has a progressive personal income tax system. In 2016, tax rates on taxable income were \(14.5 \%\) on the first \( 7,035,21 \%\) on the next \( 13,065,37 \%\) on the next \( 20,100,45 \%\)...
-
An unkniwn object has a known weight of 1 4 2 . 0 . When suspended from a string in water, tension in the string is just 1 2 9 . 4 N . What is the object made of ?
-
A current of 2 . 1 6 is generated from a battery whose internal resistance is 0 . 8 5 . You measure the voltage across the battery terminals to be 1 0 . 8 6 V . What is the EMF of the battery?
-
If geographical barriers can negatively impact project outcomes, why do organizations have distributed teams? Should organizations that fit this profile avoid Agile? Explain your answer.
-
If a . 5 kg toy car is rolling down a 3 0 - degree incline: a . What is the car s acceleration in the x direction? b . If the car sat at the top of the ramp at a height of 4 m , what distance does...
-
Is free speech absolute? How does the concept of free speech affect business? Why is the case of Brandenburg vs Ohio important? What is symbolic speech?
-
Portions of the payroll register for Barney's Bagels for the week ended July 15 are shown below. The SUTA tax rate is 5.4%, and the FUTA tax rate is 0.8%, both of which are levied on the first $7,000...
-
Audrey purchases a riding lawnmower using a 2-year, no-interest deferred payment plan at Lawn Depot for x dollars. There was a down payment of d dollars and a monthly payment of m dollars. Express...
-
Is it true that when one firm sells to another on credit, the seller records the transaction as an account receivable while the buyer records it as an account payable and that, disregarding...
-
What are the four elements of a firms credit policy? To what extent can firms set their own credit policies as opposed to having to accept policies that are dictated by the competition?
-
What are the advantages of matching the maturities of assets and liabilities? What are the disadvantages?
-
On July 1, 20Y1, Danzer Industries Inc. issued $60,000,000 of 10-year, 8% bonds at a market (effective) interest rate of 10%, receiving cash of $52,522,704. Interest on the bonds is payable...
-
On 4 January 2020 Thabo deposited P7 800 into savings account. The simple interest rate agreed upon was 6.2% per annum. What will be accumulated amount in the savings account on 21 November 2020?...
-
Lenow Drug Stores and Hall Pharmaceuticals are competitors in the discount drug chain store business. The separate capital structures for Lenow and Hall are presented here. Lenow Hall Debt @ 9%...
Study smarter with the SolutionInn App