For question 7 If we want to use turnover ratio how do we find the average net r

Question

For question 7 If we want to use turnover ratio how do we find the average net receivable for 2005 If we don’t use it what is meaning of the ratio we will use Net sales Bad debt expense 600 1,200 Allowance for Accounts eJen Company financial statement information shows that: A. Accounts of sI,20 B. Net realizable value of C. Net D. Gross receivables on December 31, 2006 are $9,995 million. E. 0 million were written off as uncollectible in 200s 31, 2006 is $9,805 milion. value of None of the above. On the basis of the A. The relationship between gross Accounts Receivable and Net Sales is worse in 2006 compared to 2005. 7. between gross Accounts Receivable and Net Sales is the same in 2006 compared to 2005. B. The rela C. The relationship between gross Accounts Receivable and Net Sales is better in 2006 D. The relationship between gross Accounts Receivable and Net compared to 200S. Sales cannot be determined from data provided. 2006 were 8. On the basis of the information provided for Jen Company, the Accounts Receivable written off in A S95 B $600 C $605 D. $1,200 E None of the above January 1, 2006, at a cost of $10,000. i had a residual value of S! u the equipment on December 31,200

Explanation / Answer

In question 7 , Average net Receivable can be calculated as follows:

           (99000+33000-100-95)/2   = $65,902.5

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