Below are amounts (in millions) from three companies' annual reports. WalCo TarMart CostGet Required: Beginning Accounts Receivable $1,775 5,966 589 Ending Accounts Receivable $2,722 6,494 625 Net Sales $318,427 63,878 64,963 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 answers in millions rounded to 1 decimal place.) WalCo TarMart CostGet WalCo TarMart CostGet Choose Numerator Receivables Turnover Ratio Choose Denominator Receivables turnover ratio times times times Average Collection Period Choose Numerator Choose Denominator Average collection period days days days < Required 1 Required 2 >

Below are amounts (in millions) from three companies' annual reports. WalCo TarMart CostGet Required: Beginning Accounts Receivable $1,775 5,966 589 Ending Accounts Receivable $2,722 6,494 625 Net Sales $318,427 63,878 64,963 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 answers in millions rounded to 1 decimal place.) WalCo TarMart CostGet WalCo TarMart CostGet Choose Numerator Receivables Turnover Ratio Choose Denominator Receivables turnover ratio times times times Average Collection Period Choose Numerator Choose Denominator Average collection period days days days < Required 1 Required 2 >

Name: Exercise 5-18 (Algo) Calculate receivables ratios (LO5-8)Below are am
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Description: Exercise 5-18 (Algo) Calculate receivables ratios (LO5-8)Below are amounts (in millions) from three companies' annual reports.WalCoTarMartCostGetRequired:Beginning AccountsReceivable$1,7755,966589Ending AccountsReceivable$2,7226,494625Net Sales$318,

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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Subject: accounting