Please read and enter answers carefully using the table provided. Below are amounts (in millions) from three companies' annual reports.Beginning AccountsEnding AccountsReceivableReceivableNet saleswalco$1, 805$2,752$321, 427TarMart6, 1166, 64466,878CostGet61965567,963Required: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 1Required 2Which company appears most efficient in collecting cash from sales?Most efficient in collecting cash from sales< Required 1Required 2 > Below are amounts (in millions) from three companies' annual reports.Beginning AccountsReceivableEnding AccountsReceivable$1, 8056, 116$2, 7526, 644655Net Sales$321, 42766, 87867,963WalcoTarMartCostGet619Required: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 1Required 2Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millionsrounded to 1 decimal place.)Receivables Turnover RatioChoose NumeratorChoose DenominatorReceivables turnover ratioWalCotimesTarMarttimesCostGettimesAverage Collection PeriodChoose NumeratorChoose DenominatorAverage collection periodWalCodaysTarMartdaysCostGetdays

Accounts receivable: It implies to the amount that has been owed by the customers to the business.…

Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable walco TarMart costGet $1, 805 6,116 619 $2,752 6, 644 655 Net Sales $321, 427 66, 878 67, 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 Which company appears most efficient in collecting cash from sales? Most efficient in collecting cash from sales < Required 1 Required 2 >

Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable walco TarMart costGet $1, 805 6,116 619 $2,752 6, 644 655 Net Sales $321, 427 66, 878 67, 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 Which company appears most efficient in collecting cash from sales? Most efficient in collecting cash from sales < Required 1 Required 2 >

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required: Note: Round answers to one decimal place. 1. Calculate the average accounts receivable. 2. Calculate the accounts receivable turnover ratio. 3. Calculate the accounts receivable turnover in days.
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Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning accounts receivable balance of $585,900, and an ending accounts receivable balance of $621,450. Compute the accounts receivable turnover ratio and the number of days sales in receivables ratio for 2018 (round answers to two decimal places). What do the outcomes tell a potential investor about Millennial Manufacturing if industry average is 2.6 times and number of days sales ratio is 180 days?
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