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Below are amounts (in millions) from three companies' annual reports. Ending Accounts Walco TarMart CostGet Beginning Accounts Receivable $1,815 6,166 629 Receivable $2,762 6,694 665 Net Sales $322,427 67,878 68,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio

Below are amounts (in millions) from three companies' annual reports. Ending Accounts Walco TarMart CostGet Beginning Accounts Receivable $1,815 6,166 629 Receivable $2,762 6,694 665 Net Sales $322,427 67,878 68,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio

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. Ending Accounts Beginning Accounts Receivable $1,815 6,166 Receivable 629 Kalco TarMart CostGet WalCo TarMart CostGet $2,762 6,694 665 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet Net Sales $322,427 67,878 68,963 Receivables Turnover Ratio Average Collection Period Receivables tumover ratio times times times Average collection period days days days
Transcribed Image Text:Below are amounts (in millions) from three companies' annual reports. Ending Accounts Beginning Accounts Receivable $1,815 6,166 Receivable 629 Kalco TarMart CostGet WalCo TarMart CostGet $2,762 6,694 665 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet Net Sales $322,427 67,878 68,963 Receivables Turnover Ratio Average Collection Period Receivables tumover ratio times times times Average collection period days days days
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet WalCo TarMart CostGet WalCo 2. Which company appears most efficient in collecting cash from sales? TarMart Receivables Turnover Ratio CostGet Average Collection Period Receivables turnover ratio times times times Average collection period days days days
Transcribed Image Text:1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) WalCo TarMart CostGet WalCo TarMart CostGet WalCo 2. Which company appears most efficient in collecting cash from sales? TarMart Receivables Turnover Ratio CostGet Average Collection Period Receivables turnover ratio times times times Average collection period days days days
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