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Selected balances from a company's financial statements are shown below. find out the following:

(a) accounts receivable turnover

(b) inventory turnover

(c) days' sales uncollected

(d) days' sales in inventory

(e) profit margin.

(f) return on total assets.

Accounts Receivable ....................... 27,000 $24,000
Merchandise inventory..................... 25,000 20,000
Total Assets.................................. 296,000 244,000
Accounts Payable........................... 26,000 32,000
Salaries Payable............................. 3,000 4,400
Sales (all on credit)........................... $312,000
Cost of goods sold........................... 165,600
Salaries expense............................. 48,000
Other expenses.............................. 75,000
Net Income................................... 24,000"

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  • Category:- Accounting Basics
  • Reference No.:- M948741

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