FSA 7-2 Comparative Analysis LO A1, P2 Comparative figures for Apple and Google follow. $ millions Accounts receivable, net Net sales Current Year $ 23, 186 265,595 Required 1 Apple One Year Prior $ 17,874 229,234 Required 2 Two Years Prior $15,754 215,639 Complete this question by entering your answers in the tabs below. 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? Current Year $ 20,838 136,8191 Google One Year Prior $18,336 110,855 Two Years Prior $ 14,137 90,272

FSA 7-2 Comparative Analysis LO A1, P2 Comparative figures for Apple and Google follow. $ millions Accounts receivable, net Net sales Current Year $ 23, 186 265,595 Required 1 Apple One Year Prior $ 17,874 229,234 Required 2 Two Years Prior $15,754 215,639 Complete this question by entering your answers in the tabs below. 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? Current Year $ 20,838 136,8191 Google One Year Prior $18,336 110,855 Two Years Prior $ 14,137 90,272

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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us Kimmel, tinancial Accounting, Be US eo 1 Srstom Announcements CALCATO Brief Exercise 8-10 Piet ts first vear of operations, Pronghorn Corp had credit sales of $2,714,100, of which $429,000 remained uncollected at year-end. The credit manager estimates that $16,370 of these recevahles w be Prepare the journal entry to record the estimated uncollectibles. (Assume an unadjusted balance of zero in Allowance for Doubtful Accounts.) (Credit account titles are automatically indented whee ment c indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT INTERACTIVE TUTORIAL INTERACTIVE TUTORIAL Prepare the current assets section of the balance sheet for Pronghorn Corp, assuming that in addition to the receivables it has cash of $85,320, merchandise inventory of $163,960, and supplies of $13,290. (List current a arder of liquidity) Pronghorn Corp Balance Sheet (partial) wT O secouNTS
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