The following information is from the annual financial statements of Lucilla Com
ID: 2357968 • Letter: T
Question
The following information is from the annual financial statements of Lucilla Company.
Net Sales: 2011 were $262,000. 2010 were $193,000. 2009 were $245,000.
Accounts Receivable, net (year-end) 2011 were $42,700. 2010 were $40,500. 2009 were $37,200.
Required:
Compute its accounts receivable turnover for 2010 and 2011. Compare the two year's results and give a possible explanation
for any change (competitors average a turnover of 7)
The following information is from the annual financial statements of Lucilla Company.
Net Sales: 2011 were $262,000. 2010 were $193,000. 2009 were $245,000.
Accounts Receivable, net (year-end) 2011 were $42,700. 2010 were $40,500. 2009 were $37,200.
Required:
Compute its accounts receivable turnover for 2010 and 2011. Compare the two year's results and give a possible explanation
for any change (competitors average a turnover of 7)
Explanation / Answer
c. $4,796.60
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.