Business, 23.03.2020 18:55 sethhdoty

The following data are taken from the financial statements of Marigold Company: 2022 2021 Average accounts receivable $539,000 $577,000 Net sales on account 5,605,600 5,308,400 Terms for all sales are 2/10, n/30. Compute for each year the accounts receivable turnover, accounts receivable was $572,000.

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Answer from: alialbinn6969

2021 = 9.2 times

2022 = 10.4 times

Explanation:

Accounts receivable turnover measure the average times the company received their receivable, It measure the efficiency of the company regarding collection from customers. Turnover will be higher if company has low ratio of receivables to sales value.

2022 2021

Average accounts receivable $539,000 $577,000

Net sales on account $5,605,600 $5,308,400

Accounts receivable turnover = Net Sales / Average Receivable

2021

Accounts receivable turnover = $5,308,400 / $577,000

Accounts receivable turnover = 9.2 times

2021

Accounts receivable turnover = $5,605,600 / $539,000

Accounts receivable turnover = 10.4 times

Answer from: avablender

2022 accounts receivable turnover = 10.4 times

2021 accounts receivable turnover = 9.2 times

Explanation:

Accounts receivable turnover can be described as the number times it takes a company to collect its average accounts receivable within a specified accounting period, usually a year. It is used as a measure of efficiency of a company in collecting account receivables in a timely manner.

Accounts receivable turnover is therefore a ratio of net sales on account to the Average accounts receivable within a specified year. This can be stated as follows:

Accounts receivable turnover = Net sales on account/Average accounts receivable ………. (1)

Using equation (1), accounts receivable turnover for 2022 and 2021 can be calculated as follows:

2022 accounts receivable turnover = $5,605,600/$539,000 = 10.4 times

2021 accounts receivable turnover = $5,308,400/$577,000 = 9.2 times

The results imply that Marigold Company is more efficient in collecting account receivable in 2021 than 2022, because it takes fewer number of times in 2021, 9.2 times, than in 2022, 10.4 times.

Answer from: Quest

$527.7.if the following was the question $527.7 is the answer.students who are trying to raise funds have an agreement with a local pizza chain. the chain has agreed to sell them pizzas at a discount, which the students can then resell to families in the local community for a profit. it is expected that of the 500 families in the community, at most 70% will buy pizza. based on a survey of their personal preferences, the students believe that they should order no more than 120 cheese pizzas, no more than 150 pepperoni pizzas, and no more than 100 vegetarian pizzas. they also want to make sure that at least 20% of the total pizzas are cheese and at least 50% of the pizzas are pepperoni. they make a profit of $1.45, $1.75, and $1.98, respectively, for each cheese, pepperoni, and vegetarian pizza they resell. how many pizzas of each type should they buy?

Answer from: Quest

Robber, police man/ woman interrogator, detective(s), witnesses

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The following data are taken from the financial statements of Marigold Company: 2022 2021 Average ac...

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