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Below are amounts (in millions) from three companies' annual reports. Beginning Accounts WalCo TarMart CostGet Receivable $1,795 6,066 609 Required 1 Required 2 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? WalCo TarMart CostGet Complete this question by entering your answers in the tabs below. WalCo TarMart Ending Accounts Receivable $2,742 6,594 645 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.) Choose Numerator Net Sales $320,427 65,878 66,963 Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times times times Average collection period days days

Below are amounts (in millions) from three companies' annual reports. Beginning Accounts WalCo TarMart CostGet Receivable $1,795 6,066 609 Required 1 Required 2 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? WalCo TarMart CostGet Complete this question by entering your answers in the tabs below. WalCo TarMart Ending Accounts Receivable $2,742 6,594 645 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.) Choose Numerator Net Sales $320,427 65,878 66,963 Choose Numerator Receivables Turnover Ratio Choose Denominator Average Collection Period Choose Denominator Receivables turnover ratio times times 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
Problem 1Q
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Below are amounts (in millions) from three companies' annual reports. Beginning Accounts WalCo TarMart CostGet Receivable $1,795 6,066 609 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? Required 1 Required 2 Complete this question by entering your answers in the tabs below. WalCo TarMart CostGet WalCo TarMart Ending Accounts Receivable $2,742 6,594 645 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.) Net Sales $320,427 65,878 66,963 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
Transcribed Image Text:Below are amounts (in millions) from three companies' annual reports. Beginning Accounts WalCo TarMart CostGet Receivable $1,795 6,066 609 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? Required 1 Required 2 Complete this question by entering your answers in the tabs below. WalCo TarMart CostGet WalCo TarMart Ending Accounts Receivable $2,742 6,594 645 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.) Net Sales $320,427 65,878 66,963 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
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