The following financial statement data are for Ridge Road Company For 2007 and 2008, compute (a) Accounts receivable turnover (b) Average collection period (c) Fixed asset turnover Use the average of the beginning and ending asset balances in computing the ratios 2008 2007 2006 Sales Accounts recei...

The following financial statement data are for Ridge Road Company. For 2007 and 2008, compute: (a) Accounts

Question:

The following financial statement data are for Ridge Road Company.

For 2007 and 2008, compute:

(a) Accounts receivable turnover

(b) Average collection period

Use the average of the beginning and ending asset balances in computing the ratios.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 50% (10 reviews)

a 2008 2007 Sales 140000 105000 Net receivables Beginning of year 25000 10000 End of yea...View the full answer

Answered By

JAPHETH KOGEI

Hi there. I'm here to assist you to score the highest marks on your assignments and homework. My areas of specialisation are: Auditing, Financial Accounting, Macroeconomics, Monetary-economics, Business-administration, Advanced-accounting, Corporate Finance, Professional-accounting-ethics, Corporate governance, Financial-risk-analysis, Financial-budgeting, Corporate-social-responsibility, Statistics, Business management, logic, Critical thinking, So, I look forward to helping you solve your academic problem. I enjoy teaching and tutoring university and high school students. During my free time, I also read books on motivation, leadership, comedy, emotional intelligence, critical thinking, nature, human nature, innovation, persuasion, performance, negotiations, goals, power, time management, wealth, debates, sales, and finance. Additionally, I am a panellist on an FM radio program on Sunday mornings where we discuss current affairs. I travel three times a year either to the USA, Europe and around Africa. As a university student in the USA, I enjoyed interacting with people from different cultures and ethnic groups. Together with friends, we travelled widely in the USA and in Europe (UK, France, Denmark, Germany, Turkey, etc). So, I look forward to tutoring you. I believe that it will be exciting to meet them.

3.00+ 2+ Reviews 10+ Question Solved

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0324312140

16th Edition

Authors: James D. Stice, Earl K. Stice, Fred Skousen

Question Posted: Apr 08, 2012 01:22 PM

See More Questions

The following financial statement data are for Ridge Road Company. For 2007 and 2008, compute: (a) Accounts

Question:

2008 2007 2006 Sales Accounts receivable (net) Property, plant, and equipment (net) $140,000 05.000 $80,000 30,000 25,000 0,000 05,000 80,000 89,000

Step by Step Answer:

a 2008 2007 Sales 140000 105000 Net receivables Beginning of year 25000 10000 End of yea...View the full answer

Intermediate Accounting

Students also viewed these Managerial Accounting questions