Question
Answered

Consider the following financial data of Eastlake Service Industries from the past year.

Gross income                           X

Total sales                                Y

Total annual credit sales Z         

Net income                               W

Cost of goods sold                   V

Total assets                              T

Average inventory value             L

Average account receivables     K

Considering the data mentioned above, which of the following is the correct expression for the receivables turnover ratio of Eastlake Service Industries? 


  • K/L

  • Y/T

  • Z/K

  • V/L

best answer

Answer & Explanation
Verified Solved by verified expert

pulvinar tortor nec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus ante, dapibu

m i

a molestie consequat, ultrices ac magna. Fusce dui lectus, congue vel laoreet ac, dictum vitae odio. Donec aliquet. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Nam lacinia pulvinar tortor nec facilisis. Pellentesque dapibus efficitur la

Unlock full access to Course Hero

Explore over 16 million step-by-step answers from our library

Subscribe to view answer
Student reviews
100% (29 ratings)