Selected data of Islander Company follow: As of December 31, Balance Sheet Data 20X1 20X0 Accounts receivable$500,000 $470,000 Allowance for doubtful accounts (25,000) (20,000) Net accounts receivable 475,000 450,000 Inventories—lower of cost or market 600,000 550,000 Year Ended December 31, Income Statement Data 20X1 20X0 Net credit sales$2,500,000 $2,200,000 Net cash sales 500,000 400,000 Net sales 3,000,000 2,600,000 Cost of goods sold 2,000,000 1,800,000 Selling, general, and administrative expenses 300,000 270,000 Other 50,000 30,000 Total operating expenses 2,350,000 2,100,000 Required: What is the accounts receivable turnover for 20X1? What is the inventory turnover for 20X1? (Round your final answers to 2 decimal places.)

On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. ryan uses the periodic inventory system and the net method of accounting for sales. on september 14, johnson returns some of the non-defective merchandise, which is restored to inventory. the selling price of the returned merchandise is $500 and the cost of the merchandise returned is $350. the entry or entries that ryan must make on september 14 is (are): multiple choice sales returns and allowances 490 accounts receivable 490 merchandise inventory 350 cost of goods sold 350 sales returns and allowances 490 accounts receivable 490 sales returns and allowances 500 accounts receivable 500 sales returns and allowances 490 accounts receivable 490 merchandise inventory 343 cost of goods sold 343 sales returns and allowances 350 accounts receivable 350

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Laurelton heating & cooling installs and services commercial heating and cooling systems. laurelton uses job costing to calculate the cost of its jobs. overhead is allocated to each job based on the number of direct labor hours spent on that job. at the beginning of the current year, laurelton estimated that its overhead for the coming year would be $ 61 comma 500. it also anticipated using 4 comma 100 direct labor hours for the year. in april comma laurelton started and completed the following two jobs: (click the icon to view the jobs.) laurelton paid a $ 20-per-hour wage rate to the employees who worked on these two jobs. read the requirements requirement 1. what is laurelton's predetermined overhead rate based on direct labor hours? determine the formula to calculate laurelton's predetermined overhead rate based on direct labor hours, then calculate the rate. / = predetermined overhead rate