Pine Hardware Store had net credit sales of $3,900,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The accounts receivable turnover ratio was
A) 5.6 times
B) 6.5 times
C) 4.6 times
D) 6 times
D
You might also like to view...
The process of strengthening a behavior by withdrawing something negative is called
A. positive reinforcement. B. negative reinforcement. C. extinction. D. intrinsic motivation. E. punishment.
In a short essay, list at least five applications of focus groups. Include a specific example of each application to support your answer
What will be an ideal response?
Stan is the manager of a division that has been struggling lately. It is budget time and Stan feels he is under the gun to do well next year. As such, he is building slack into his budget. How will he handle estimates of revenues and expenses? Revenues Expenses
a. Overestimate Overestimate b. Overestimate Underestimate c. Underestimate Underestimate d. Underestimate Overestimate
Brookville Corporation's books disclosed the following information for the year ended December 31 . 2014: Net credit sales .................................... $1,500,000 Net cash sales ...................................... 240,000 Accounts receivable at beginning of year ............ 200,000 Accounts receivable at end of year .................. 400,000 Brookville's accounts receivable turnover
is a. 3.75 times. b. 4.35 times. c. 5.00 times. d. 5.80 times.