Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days’ sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day’s sales ratio is 180 days?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days’ sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day’s sales ratio is 180 days?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days’ sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day’s sales ratio is 180 days?
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,453,630, beginning accounts receivable balance of $590,900, and an ending accounts receivable balance of $626,450.
A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal places.
B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day’s sales ratio is 180 days?
a.
Millennial Manufacturing collects its accounts more quickly than its competitors.
b.
A lender may favour Millennial Manufacturing over its competitors because of its faster collection period.
c.
Without prior years’ data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors.
d.
All of the above statements may be correct.
Millennial Manufacturing has net credit sales for 2018 in the amount of $1,443,630, beginning accounts receivable balance of $588,900, and an
ending accounts receivable balance of $624,450.
A. Compute the accounts receivable turnover ratio and the number of days' sales in receivables ratio for 2018. Round answers to two decimal
places.
times
days
B. What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of day's sales ratio is
180 days?
Accounts receivable turnover ratio
Sales in receivables ratio
a. Millennial Manufacturing collects its accounts more quickly than its competitors.
b. A lender may favour Millennial Manufacturing over its competitors because of its faster collection period.
c. Without prior years' data it is hard to tell if Millennial Manufacturing is really more efficient than its competitors.
d. All of the above statements may be correct.
1. Compute the accounts receivable turnover ratios and the number of days' sales in receivables
ratios for 2018 and 2019 (round answers to two decimal places).
What do the outcomes tell a potential investor about Vortex Computing if industry average for
accounts receivable turnover ratio is 4 times and days' sales in receivables ratio is 85 days?
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.