Maurice Tutor

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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 10.00

Hawk Company

The Hawk Company wants to determine the liquidity of its receivables. It has supplied you with the following data regarding selected accounts for December 31, 2000, and 1999:

 

2000

1999

Net sales

$1,180,178

$2,200,000

Receivables, less allowance for losses and discounts

Beginning of year (allowance for losses and

  

discounts, 2000—$12,300; 1999—$7,180)

240,360

230,180

End of year (allowance for losses and

  

discounts, 2000—$11,180; 1999—$12,300)

220,385

240,360

Required a. Compute the number of days’ sales in receivables at December 31, 2000, and 1999.

b. Compute the accounts receivable turnover for 2000 and 1999. (Use year-end gross receivables.)

c. Comment on the liquidity of the Hawk Company receivables.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 10:09 PM My Price 10.00

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