This topic contains a solution. Click here to go to the answer

Author Question: The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear ... (Read 17 times)

hjfhdiskkjs

  • Full Member
  • ***
  • Posts: 156
The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below.

202020212022
Current assets
  Cash$  20,000$  16,000$  14,000
  Accounts receivable, net28,00020,00024,000
  Inventory    22,000    30,000    28,000
Total current assets70,00066,00066,000
Plant & equipment, net    62,000    60,000    40,000
Total assets$132,000$126,000$106,000

Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020, $82,400 for 2021 and $72,500 for 2022.

What is the accounts receivable turnover for 2021?
◦ 4.61 times
◦ 3.75 times
◦ 6.00 times
◦ 5.00 times


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by hjfhdiskkjs on Feb 5, 2023

ludadtpb

  • Full Member
  • ***
  • Posts: 175
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 29% of students answer this correctly




hjfhdiskkjs

  • Member
  • Posts: 156
Reply 2 on: Feb 5, 2023
Thanks for the timely response, appreciate it


okolip

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

For a complete list of videos, visit our video library