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Below are amounts (in millions) from three companies' annual reports. Beginning Accounta Ending Accounte Receivable $2,572 5,744 Walco TarMart ContGet Receivable $1,625 5,216 439 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. WarCo TarMart CostGet Required i Required 2 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millions rounded to 1 decimal place.) WalCo TarMart Net Sales $303,427 48,979 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times Average collection period days days

Below are amounts (in millions) from three companies' annual reports. Beginning Accounta Ending Accounte Receivable $2,572 5,744 Walco TarMart ContGet Receivable $1,625 5,216 439 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. WarCo TarMart CostGet Required i Required 2 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millions rounded to 1 decimal place.) WalCo TarMart Net Sales $303,427 48,979 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times Average collection period days days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounte Receivable $2,572 5,744 475 Walco TarMart CostGet Receivable $1,625 5,216 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. WarCo TarMart CostGet Required i Required 2 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millions rounded to 1 decimal place.) WalCo TarMart CostGet Net Sales $303,427 48,970 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times times times Average collection period days days days
Transcribed Image Text:Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounte Receivable $2,572 5,744 475 Walco TarMart CostGet Receivable $1,625 5,216 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. WarCo TarMart CostGet Required i Required 2 Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millions rounded to 1 decimal place.) WalCo TarMart CostGet Net Sales $303,427 48,970 Choose Numerator Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times times times Average collection period days days days
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