Question
Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 93,000 $ 85,000 Merchandise inventory 71,000
Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||||
| Accounts receivable | $ | 93,000 | $ | 85,000 | |||
| Merchandise inventory | 71,000 | 85,000 | |||||
| Net sales | 413,000 | 385,000 | |||||
| Cost of goods sold | 253,000 | 233,000 | |||||
Huckabee's 2021 receivables turnover (rounded to 2 decimal places) is:
Multiple Choice
-
4.44.
-
4.64.
-
2.84.
-
3.24.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
