Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Beginning Accounts Ending Accounts Receivable Net ($ in millions) Sales Receivable $463,854 $6,064 6,653 $6,937 6,427 Walmart Target 79,466 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Turnover Ratio Walmart times Target 0 times Average Collection Period Average Collection Period

Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Beginning Accounts Ending Accounts Receivable Net ($ in millions) Sales Receivable $463,854 $6,064 6,653 $6,937 6,427 Walmart Target 79,466 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio Receivables Turnover Ratio Walmart times Target 0 times Average Collection Period Average Collection Period

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Can you also send me how to do this one? 2. Refer to the data below for XYZ Corporation. Credit sales during 2018 850,000 Accounts Receivable—January 1, 2018 334,000 Collections from credit customers during 2018 725,000 Estimated uncollectible accounts based on an aging analysis 13,200 Customer accounts written off as uncollectible during 2018 12,000 Allowance for doubtful accounts 1,700(after write-off of uncollectible accounts) Answer the following questions using the above data: A. What is the balance of Accounts Receivable at December 31, 2018? B. If the aging approach is used to estimate bad debts, what should the balance in Allowance for Doubtful Accountsbe after the bad debts adjustment? C. If the aging approach is used to estimate bad debts, what amount should be recorded as bed debts expense for2018?
Logan Sales provides the following information: Net credit sales: $770,000 Beginning net accounts receivable: $45,000.00 Ending net accounts receivable: $22,000 Calculate the accounts receivable turnover ratio. (Round your answer to the nearest whole number.) A. 23 times B. 35 times C. 33 times D. 17 times
Activity measures: m. Calculate the accounts receivable turnover and number of days' sales in accounts receivable (based on a 365-day year) for the most recent year. n. Based on your analysis in m, do you believe that the company is doing an effective job at managing accounts receivable? What would you estimate the industry averages to be for the accounts receivable turnover and number of days' sales in accounts receivable? Explain. o. Calculate the inventory turnover and number of days' sales in inventory (based on a 365-day year) for the most recent year. p. Based on your analysis in o, to what extent does the company need to be concerned about its inventory management policies? In assessing the inventory management policies, would you be more interested in knowing current ratio or acid-test ratio information? Explain.
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo TarMart $1,815 $2,762 $322,427 6,166 6,694 67,878 CostGet 629 665 68,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your rounded to 1 decimal place.) WalCo TarMart CostGet Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Numerator Choose Denominator = Receivables turnover ratio times times times = Average collection period
Number 1
Based on the account balances shown below, calculate "Net Sales". Normal Account Balance Account Name Allowance for Uncollectible $5,000 A/R Deferred Revenue $15,725 Sales Revenue $114,139 Sales Discounts $2,000 Sales Returns $6,000 Fill in the blank with your calculated number. DO NOT include period, decimal points, etc., just enter the raw number. Webcourses will add commas to your nmas, $ sig answer automatically. For example, if you calculated the answer to be $24,123, you would only input: 24123 ASUS f3 f4 f5 f6 f7 f8 f9 f10 f11 口/東 %24 3 5 7 9. 01 因 LO 图
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounts Receivable $2,722 6,494 625 WalCo TarMart CostGet Receivable $1,775 5,966 589 Net Sales $318,427 63,878 64,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales?
us Kimmel, tinancial Accounting, Be US eo 1 Srstom Announcements CALCATO Brief Exercise 8-10 Piet ts first vear of operations, Pronghorn Corp had credit sales of $2,714,100, of which $429,000 remained uncollected at year-end. The credit manager estimates that $16,370 of these recevahles w be Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented whee ment c indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pronghorn Corp, assuming that in addition to the receivables it has cash of $85,320, merchandise inventory of $163,960, and supplies of $13,290. (List current a arder of liquidity) Pronghorn Corp Balance Sheet (partial) wT O secouNTS
Hi, How do I calculate these ratios? And what are the formulas to calculate them Thanks
Please do not give solution in image format thanku
Presented below is information for Vaughn Company. 1. Beginning-of-the-year Accounts Receivable balance was $24,900. 2. Net sales (all on account) for the year were $105,300. Vaughn does not offer cash discounts. 3. Collections on accounts receivable during the year were $84,300. All Boo (a) Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Debit Credit 2. 3.
Need a,b,c