Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Gold Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of $880,000 at the end of the year. Net credit sales during the year amounted to $7,650,000. The receivables turnover ratio was:

a. 9.0 times.

b. 4.5 times.

c. 8.7 times.

d. 9.3 times.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947959

Have any Question? 


Related Questions in Accounting Basics

Nbsptask 1 - planning for profit and cost controlobjective

TASK 1 - Planning for profit and cost control Objective - To enable the learner to prepare the budgeted profit statement and undertake cost-volume-profit analysis for decision making Anhad Sdn. Bhd. manufactures car alar ...

Question 1- jessica opened a bank account with an initial

Question 1- Jessica opened a bank account with an initial deposit of $10,000. The bank account pays monthly interests at 6% p.a. convertible monthly. (a) How much will Jessica accumulate in 5 years if she is not going to ...

Practice questionsdescribe the main disadvantages of using

Practice questions: Describe the main disadvantages of using money as a unit of measurement to record business transactions.

Health services resource management assignmentquestion 1 a

Health Services Resource Management Assignment Question 1: A hospital is expecting to have $25,000 cash in hand on 1st April 2015 and it requires you to prepare an estimate of cash position in respect of three months fro ...

The puffing billy scenarioas a graduate of the bachelor of

The Puffing Billy Scenario As a graduate of the Bachelor of Business (Accounting) from Holmesglen you found a profitable niche developing custom databases for small enterprises. Your first client is the Puffing Billy Pre ...

Accounting questionrecent news stories have clearly

Accounting Question: Recent news stories have clearly established that there are increasing instances of cyber-crime that are plaguing major corporations and financial institutions. These crimes have taken many forms, su ...

Fasb codification and careers in accountingplease respond

FASB Codification and Careers in Accounting"Please respond to the following: • Throughout this course you have utilized the FASB codification to research the authoritative guidelines for accounting transactions. Briefly ...

Review the form 10-k for the company selected for team

Review the Form 10-K for the company selected for team assignments Write a 1,050- to 1,400-word paper on the following: 1. Management's Report on Internal Control Over Financial Reporting 2. The Independent Registered Pu ...

Questionthato and mdeva were in partnership and traded as

QUESTION: Thato and Mdeva were in partnership and traded as LEPARA Traders and shared profits/losses in the ratio of 5:3 respectively. Thato and Mdeva decided to admit Lenyora to the partnership. The following informatio ...

Accounting for business decisions melbourne assignment-the

Accounting for Business Decisions Melbourne Assignment- The assignment will undertake research using the website of the Australian Stock Exchange (ASX) and/or the Company whose industry is Food, Beverage & Tobacco that y ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate