How to calculate the account receivable turnover ratio in a balance Sheet and income statement (explain it with the items on the income statement and balance Sheet eg.inventory, current receivable, current liability..and so on.

Q: The total of the amounts on the accounts receivable listing agrees with the general ledger balance…

A: Accounts receivable refers to the amount that is owed by the customer for the goods purchased from…

Q: Match each description with the appropriate financial statement. A. Income Statement Reports the…

A: Solution: Income statement shows income and expenses during the period. Balance sheet shows Balance…

Q: Please help with the calculation of Net profit margin, Gross profit margin, Current ratio, Acid test…

A: Net profit margin = Net profit (loss) / Sales Revenue = - 1410 / 5600 = - 0.25   Given Net income =…

Q: Accounts receivable turnover %3D

A: Sample company's balance sheet and income statement is given. On the bases of data we can find…

Q: How to calculate accounts receivable turnover

A: Accounts receivable turnover refers to how a business uses its assets.The receivables turnover ratio…

Q: Define receivables & explain its the classification in the statement of financial position

A: Current asset: It can be defined as an asset that is having the potential to be converted into money…

Q: a. Show the journal entry to record the uncollectible accounts. b. How much will the balance sheet…

A: a) Journal Entry

Q: What is the accounts receivable turnover, and what typeof information does it provide?

A: Ratio analysis, horizontal analysis and vertical analysis are the analytical tools used by the…

Q: What is the difference between ‘accounts payable (AP)’ and ‘accounts receivable (AR)’?

A: Credit Transaction: Under a credit transaction, the exchange of goods or services takes place where…

Q: What is the charge to statement of profit or loss for receivables expense for the year?

A: Allowances for receivables can be defined as the amount of receivables which is expected to be…

Q: Determine if each statement represents the allowance (A) or direct write-off (DW) approach. On the…

A: The Answer

Q: What is the impact on the accounting equation when an accounts receivable is collected

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: Preparing a balance sheet, allowance for uncollectible accounts goes under what heading?

A: Allowance for Uncollectible Accounts indicates the amount of receivables that are expected to remain…

Q: nventories, cash and equivalents, and accounts receivables are listed as Select one: a.  Payments on…

A: Income statement consist of revenue and expenses summary. Balance sheet consist of assets and…

Q: Where would accounts payable' most likely appear in a set of financial statements? In both the…

A: Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Explain how to calculate accounts receivable turnover ratio.

A: Accounts receivable turnover: Accounts receivable turnover is a liquidity measure of accounts…

Q: Illustratrate about the real and nominal accounts along with examples.

A: Real account:Real account involves the amount of asset, liability, or stockholder’s equity at a…

Q: What are Account for notes payable and interest expense.

A: Notes Payable- It is a type of document or instrument which is issued to creditors for a specific…

Q: Explain the measurement of accounts receivable. (Write a complete thought or answer)

A: Account receivable is shown in the balance sheet as assets. Account receivables is the total…

Q: What’s the difference between accounts payable and receivable?

A: If you use the accrual accounting system, you will have to deal with accounts receivable and…

Q: What is the:  Accounts Receivable   =                                     =     Accounts…

A: Accounts Receivable Accounts receivable which is treated as one of the main source of liquidity…

Q: Define and explain short-term and long-term accounts receivable.

A: Accounts receivable forms a part of assets of the entity and represent the amount due from the…

Q: For each of the following accounts, select the correct financial statement where reported. Accounts…

A: Answer : Classification of given accounts in appropriate financial statement : Income statement = It…

Q: When using the allowance method, how are accounts receivable shown on the balance sheet?

A:

Q: How to determine the adjusted balance of Accounts Receivable by usind the analysis of receivables…

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: What factors affect accounts payable turnover ratio?

A: Accounts Payable ratio is calculated by dividing total supplier purchases by the average accounts…

Q: What are accounts for notes payable and interest expense.

A: Payables indicate the amount owed by the organization from outsiders which requires to be paid…

Q: Indicate whether each statement best describes the allowance (A) method or the direct write-off…

A: Under the direct write off method the bad debts is treated as charged to expenses when it is clear…

Q: relationship would you expect between inventory and accounts payable

A: Relationship between inventory and accounts payable:-   The main connection between the inventory…

Q: Accounts and notes receivable are reported in the current assets section of the balance sheet at net…

A: Account receivable means the amount due from customer whom we sold the goods on credit. Allowance…

Q: Based on the information, Determine the adjusted balances of Inventory,Accounts…

A: Adjusted balance can be defined as those amount of balance determined after the closure of books. It…

Q: between a balance on a receivable ledger contro account and the total list of accounts receivable…

A: Accounts Receivables: as each customer's a/c balance cannot be shown in financials, the Accounts…

Q: Explain how to calculate day’s sales in receivable.

A: Average collection period: Average collection period indicates the number of days taken by a…

Q: A. Current Ratio B. Acid-Test Ratio C. Accounts Receivable Turnover,

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: Explain how accounts receivable are presented in the financial statements.

A: Introduction: Current Assets: Assets which are easily convertible in to cash with in a short period…

Q: Describe the Initial Valuation of Accounts Receivable.

A: Accounts receivable are those amounts that are to be received from customers because of credit…

Q: Describe the difference between an account receivable and an account payable.

A: Accounts receivable: Accounts receivable are money owed to business from debtors. These are payments…

Q: Where is the current portion of notes payable reported on the balance sheet?

A: Definition:   The long-term note payable: Long-term notes payable refers to the obligation of the…

Q: How did the Accounts Receivable write-off affect GENERAL MILLS' financial statement? (in millions)…

A: Account receivables shows the amount which are due from customer. It is shown as an asset of the…

Q: How to compute net credit sales on a balance sheet

A: solution : How to compute net credit sales on a balance sheet? Net credit sales is the amount of…

Q: Which of the following best describes the activities of the accounting function? a. inventory…

A:

Q: a. Calculate and interprete the following ratios Receivables days Payables days Inventory days

A: Hi student Since there are multiple subparts, we will answer only first three subparts.