HI!
Can I please have the formula and the explanation.
Thanks
Can I have someone explain 2013 and 2014 explained to me.
up Athabasca Uni x U Course: ACCT : X Ly Introduction to X Ly Lab 7.7 (Questi X Mail - Fiona Mu X Course Hero X y! rbc - Yahoo Ca x y! unadjusted del X Adjusted Debit X C lifa1.lyryx.com/student-servlets/LabServlet?ccid=7845&lab=7007&singleQuestion=0&course=7845&ident=398068&command=answer Apps Home Other Bookmarks lyryx Spreadsheet Print Preferences Help Lab 7.7 (Question 1) Name: Fiona Murton Cabrera Date: 2020-10-17 8:31 Question 1 [5 points] Your solution was: The following financial statements are for United Corporation. United Corporation United Corporation Income Statemen Balance Sheet For Years Ended December 31, 2014, 2013, and 2012 December 31, 2014, 2013, and 2012 2014 2013 2012 Assets 2014 2013 2012 1,255,300 1,549,500 1,390,800 455,600 Cash............." 31,900 34,200 39,200 Cost of goods sold. 392,400 478,300 Short-term investments . 54,000 47,000 44,000 Gross profit from sales. 62,900 1,071,200 935,200 Accounts receivable, net... 32,900 .0.50 38,50 Operating expenses. 05,800 408,700 372, 100 Merchandise inventory .. 12,90 12.000 11,800 Operating income 57,100 662,500 563, 100 Prepaid expenses..... 5,800 5,100 6,000 Interest expense. 3,450 3,500 3.700 Notes receivable, due in 2016.. 7,000 OOG'2 7,000 Income before taxes. 453,650 659,000 559,400 Property, plant and equipment, net 409,000 384,000 374,000 Income taxes .. 195,300 185,90 188,600 Total assets.. 553,500 530,300 520,500 Net income .... 258,350 473,100 370,800 Liabilities and Equity Accounts payable .. 31,400 36,000 12,500 Salaries payable.. 2,900 3,200 3,900 Income taxes payable . .... .".";:"";;;"".pass""."""' 116,000 139,250 116,300 Long-term note payable secured by mortgage on plant assets 190,000 192,000 190,000 Share capital.. 170,000 150,000 160,000 Retained earnings . 43,200 9,850 7,800 Total liabilities and equity .. 553,500 530,300 520,500 Compute the accounts receivable turnover below, and indicate whether the change from year to year is favourable or unfavourable. For your analysis, assume that all other things have remained constant. Apply your analysis in very general terms. All values should be accurate to at least two decimal places. Ratio 2014 2013 Measure of Analysis Accounts receivable turnover ...... 32.48 27.96 Liquidity and efficiency of collection Unfavourable Marking: Accounts receivable turnover The accounts receivable turnover for 2013 should be 39.23, but you have not entered this. This will cost you 2 marks. The accounts receivable turnover for 2014 should be 34.20, but you have not entered this. This will cost you 2 marks. Total marks for this question: 1 Overall Mark: 1/5 Your mark of 1/5 has been recorded. DONE
