Question
For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,524,000 $6,549,000 Accounts receivable: Beginning of year 580,000 530,000 End of year 560,000
For two recent years, Robinhood Company reported the following:
| 20Y9 | 20Y8 | |
| Sales | $7,524,000 | $6,549,000 |
| Accounts receivable: | ||
| Beginning of year | 580,000 | 530,000 |
| End of year | 560,000 | 580,000 |
a. Determine the accounts receivable turnover for 20Y9 and 20Y8. Round answers to one decimal place.
20Y8: fill in the blank 1
20Y9: fill in the blank 2
b. Determine the days sales in receivables for 20Y9 and 20Y8. Use 365 days and round all calculations to one decimal place.
20Y8: fill in the blank 3 days
20Y9: fill in the blank 4 days
c. Are the changes in the accounts receivable turnover and days sales in receivables from 20Y8 to 20Y9 favorable or unfavorable?
FavorableUnfavorable
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Financial Accounting Theory And Analysis Text And Cases
Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey
14th Edition
1119881226, 978-1119881223
