The following information is from the annual financial statements of Raheem Company. Year 3 Year 2 Year 1
Net sales $472,000 $403,000 $454,000
Accounts receivable, net (year-end) 38,000 35,800 32,500
Compute its accounts receivable turnover for 2016 and 2017.
Accounts Receivable Turnover
Choose Choose Denominator: Accounts Receivable
Turnover
Net sales Average accounts receivable, net Accounts receivable turnover
Year 2 $403,000 $35,800 11.3 times
Year 3 $472,000 $38,000 124 times

The partnership of douglas, ryan, and ellen has dissolved and is in the process of liquidation. on july 1, 2016, just before the second cash distribution, the assets and equities of the partnership along with profit and loss sharing ratios were as follows: cash $30,000receivable - net $20,000inventories $25,000equipment - net $30,000total assets $80,000liabilities $12,000douglas, capital (20%) $28,000ryan, capital (50%) $24,000ellen, capital (30%) $16,000total liab./equity $80,000assume that the available cash is distributed immediately, except for a $2,000 contingency fund that is withheld pending complete liquidation of the partnership. how much cash should be paid to each of the partners? a. $3,200 douglas, $8,000 ryan, $4,800 ellenb. $5,600 douglas, $14,000 ryan, $8,400 ellenc. $16,000 douglas, $0 ryan, $0 ellend. $8,000 douglas, $0 ryan, $8,000 ellen