Comparative figures for Apple and Google follow. $ millions Apple Google Current Year One Year Prior Two Years Prior Current Year One Year Prior Two Years Prior Accounts receivable, net $ 22,926 $ 23,186 $ 17,874 $ 25,326 $ 20,838 $ 18,336 Net sales 260,174 265,595 229,234 161,857 136,819 110,855 Required: 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year?

Comparative figures for Apple and Google follow. $ millions Apple Google Current Year One Year Prior Two Years Prior Current Year One Year Prior Two Years Prior Accounts receivable, net $ 22,926 $ 23,186 $ 17,874 $ 25,326 $ 20,838 $ 18,336 Net sales 260,174 265,595 229,234 161,857 136,819 110,855 Required: 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

$ millions	Apple	Google
Current Year	One Year Prior	Two Years Prior	Current Year	One Year Prior	Two Years Prior
Accounts receivable, net	$ 22,926	$ 23,186	$ 17,874	$ 25,326	$ 20,838	$ 18,336
Net sales	260,174	265,595	229,234	161,857	136,819	110,855

Similar questions

B1
3
provide answer please
Please do not give solution in image format thanku
Cash and accounts receivable for Adams Company are provided below: Current Year PriorYear Cash $68,511 $55,700 Accounts receivable (net) 22,064 39,400 Based on this information, what is the amount and percentage of increase or decrease that would be shown with horizontal analysis? Enter a decrease using a minus sign before the amount and the percentage. Account Dollar Change Percent Change Cash $fill in the blank 1 fill in the blank 2 % Accounts Receivable $fill in the blank 4 fill in the blank 5 %
The following information was taken from the books of Olmeck, Inc. Year 2 Year 1 Sales $956,000 $992,000 Accounts receivable: Beginning of the year 120,500 136,400 End of the year 110,000 120,500 a. Determine the accounts receivable turnover for Year 2 and Year 1. Round your answers to one decimal place. Accounts ReceivableTurnover Year 2 fill in the blank 1 Year 1 fill in the blank 2 b. Determine the number of days’ sales in receivables for Year 2 and Year 1. Round your answers to one decimal place. Assume 365 days per year. Number of Days' Salesin Receivables Year 2 fill in the blank 3 days Year 1 fill in the blank 4 days c. The industry average for the accounts receivable turnover is 8.0. How does Olmeck, Inc. compare? In Year 2 Olmeck was the industry average. In Year 1, Olmeck was the industry average.
Accounts Receivable Turnover and Average Collection Period The Forrester Corporation disclosed the following financial information (in millions) in its recent annual report: Year 1 Year 2 Net sales $233,030 $267,989 Beginning accounts receivable (net) 27,584 26,784 Ending accounts receivable (net) 26,784 26,392 a. Calculate the accounts receivable turnover ratio for both years. b. Calculate the average collection period for both years. Notes: 1. Round all answers to one decimal place. 2. Use rounded answer from part a. to compute the average collection period. a. Accounts receivable turnover b. Average collection period (days) Year 1 improving deteriorating 0 0 parts of the question. Year 2 c. Is the company's accounts receivable management improving or deteriorating? 0 0
A company reports the following: Line Item Description Amount Sales $235,060 Average accounts receivable (net) 51,100 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. Line Item Description Answer a. Accounts receivable turnover b. Days' Sales in Receivables
4. The following select financial statement information from Hogge Computing. Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2021 and 2022 (round answers to two decimal places). Year 2020 2021 2022 2021: Net Credit Sales 2022: $1,557,200 $1,755,310 $1,965,170 Accounts Receivable Turnover Ratio: • Days' Sales: days Accounts Receivable Turnover Ratio: Days' Sales: days times times Ending Accounts Receivable $397,000 $465,200 $505,780
A company reports the following: Sales $1,460,000 Average accounts receivable (net) 100,000 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover fill in the blank 1 b. Number of days' sales in receivables fill in the blank 2 days
Please do not give solution in image format thanku
explain the image provided the Accounts receivable turn over, days to collect, Inventory turnover,Days to sell, accounts payable turnover,days to pay and give recommendation