Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 13 8 the following data are taken from the financi

13 8 The following data are taken from the financial statements of Sigmon Inc. Terms...

50.1K

Verified Solution

Question

Accounting

image
13 8 The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y2 $127,800 $135,000 $142,400 693,500 20Y1 Sales on account 748,980 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days sales in receivables. Round answers to one decimal place. Assume a 365-day year 20Y3 1. Accounts receivable turnover 2. Number of days' sales in receivables 20Y2 a 1. Divide net sales by average accounts receivable. Average Accounts receivable (Beginning Accounts Rocevable Ending Accounts Rocevable) 2 a2. Dide average accounts recevable by average daly yes on account Average Accounts recevable- Begnning Accourts Recevable b. Consider the relationship of the accounts involved Consider the effects of the changes on the business (Beginning Accounts Receivable Enrg Accounts Recenatie) . 2 Amae ay saes on acce

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students