Financial Accounting: Suppose the 2012 financial statements of Sevilla Designs reported net sales of $35.8 billion. Accounts receivable (net) are $5.2 billion at the beginning of the year and $9.4 billion at the end of the year. A. Compute Sevilla Designs' receivable turnover. B. Compute Sevilla Designs' average collection period for accounts receivable in days.

Financial Accounting: Suppose the 2012 financial statements of Sevilla Designs reported net sales of $35.8 billion. Accounts receivable (net) are $5.2 billion at the beginning of the year and $9.4 billion at the end of the year. A. Compute Sevilla Designs' receivable turnover. B. Compute Sevilla Designs' average collection period for accounts receivable in days.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.