Please do not give solution in image format thanku Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of theproducts they sell and their receivables management practices. To evaluate their ability to collect on creditsales, consider the following information reported in their annual reports (amounts in millions).Fiscal Year Ended:Net SalesAccounts ReceivableAllowance for Doubtful AccountsAccounts Receivable, Net of Allowance2012$6,956Receivables Turnover RatioDays to Collect1,21827Mathis1,191Mathis20112010$6,531 $6,91820128243079495031919Hashey2012$5,2021,04236Required:1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and2011.TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in ayear. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Roundyour final answers to 1 decimal place. Use final rounded answers from Accounts ReceivableTurnover Ratio for Days to Collect ratio calculation.)Mathis1,006Hashey2011$5,16820111,122381,084Hashey2010$5,02269437657

The efficiency with which a firm is able to collect on its receivables or the credit it gives to…

Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2012 $6,956 Receivables Turnover Ratio Days to Collect 1,218 27 1,191 Mathis Mathis 2011 $6,531 2012 824 30 794 2010 $6,918 Hashey 950 31 919 2012 $5,202 1,042 36 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and 2011. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) Mathis 1,006 Hashey 2011 $5,168 2011 1,122 38 1,084 Hashey 2010 $5,022 694 37 657

Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2012 $6,956 Receivables Turnover Ratio Days to Collect 1,218 27 1,191 Mathis Mathis 2011 $6,531 2012 824 30 794 2010 $6,918 Hashey 950 31 919 2012 $5,202 1,042 36 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and 2011. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) Mathis 1,006 Hashey 2011 $5,168 2011 1,122 38 1,084 Hashey 2010 $5,022 694 37 657

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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Mathis Incorporated and Hashey Companies are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: Req 1 Req 2A 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 2B Receivables Turnover Ratio Days to Collect 2018 $ 5,656 1,158 21 1,137 Mathis 2018 Mathis 2017 $…
ed Softee Sodas and Patterson Beverage Company are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 35,660 4,130 550 3,580 Softee Sodas 2017 $ 39,520 4,390 540 3,850 Patterson Beverage Company 2016 $ 44,440 4,580 530 4,050 2018 $ 71,440 7,680 100 7,580 2017 $ 72,120 7,590 130 2016 $ 66,660 7,250 140 7,460 7,110 Required: 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash…
es Fizzy Sodas and Hayes Companies are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 40,630 4,410 620 3,790 Fizzy Sodas 2017 $ 45,120 4,710 610 4,100 2016 $ 47,640 4,930 600 4,330 2018 $ 82,416 8,240 100 8,140 Hayes Companies 2017 $82,945 8,150 130 8,020 Required: 1. Calculate the receivables turnover ratios and days to collect for Fizzy Sodas and Hayes Companies for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? 2016 $ 71,470 7,770 140 7,630
Softee Sodas and Patterson Beverage Company are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Softee Sodas Patterson Beverage Company Fiscal Year Ended: 2018 2017 2016 2018 2017 2016 Net Sales $ 42,160 $ 46,840 $ 48,600 $ 85,696 $ 86,240 $ 72,900 Accounts Receivable 4,490 4,810 5,030 8,400 8,310 7,930 Allowance for Doubtful Accounts 640 630 620 100 130 140 Accounts Receivable, Net of Allowance 3,850 4,180 4,410 8,300 8,180 7,790 Required: 1. Calculate the receivables turnover ratios and days to collect for Softee Sodas and Patterson Beverage Company for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in…
Fizzy Sodas and Hayes Companies are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Req 1 Complete this question by entering your answers in the tabs below. Req 2A Required: 1. Calculate the receivables turnover ratios and days to collect for Fizzy Sodas and Hayes Companies for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Req 2B Receivables Turnover Ratio Days to collect 2018 2018 $ 40,630 4,410 620 3,790 Fizzy Sodas Fizzy Sodas 2017 $ 45,120 4,710 610 4,100 Hayes Companies…
Coca-Cola and PepsiCo are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Req 1 Req 2A Required: 1. Calculate the receivables turnover ratios and days to collect for Coca-Cola and PepsiCo for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Receivables Turnover Ratio Days to collect Req 2B X Answer is complete but not entirely correct. Coca-Cola 2018 $ 31,860 3,890 490 3,400 2018 8.7 x 41.6 PepsiCo Coca-Cola 2017 9.0…
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The following data are for Rocky Company. Accounts receivable, net Net sales Current Year $ 153,400 861,105 1 Year Ago $ 138,500 910, 600 (a) Compute Rocky's accounts receivable turnover. (b) If its competitor, Dixon, has an accounts receivable turnover of 7.5, which company appears to be doing a better job of managing its receivables?
Bartell Co has provided you with the following information for the year ended December 31, 2016 • Net credit sales are $248,000 for the year . Based on historical data, management expects that 2.0% of credit sales will be uncollectible. . Based on historical data, management expects that 5.0% of outstanding receivables will be uncollectible. • Allowance for Doubtful Accounts (XA) has a credit balance of $600 at January 1, 2016. • Accounts Receivable (A) has a debit balance of $66,000 at December 31, 2016. Bartell Co wrote off $2,000 of Accounts Receivable as uncollectible. Estimate Bad Debt Expense for 2016 using the percentage of credit sales method. Round your answer to the nearest dollar: $ Estimate Bad Debt Expense for 2016 using the aging of receivables method Round your answer to the nearest dollar: $1
InvisiGuard Ltd sells security doors. Majority of its sales are on credit except small amount of cash sales each year. The accounting records at 30 June 2019 reveal the following. Ignore GST.Credit sales (for the year of 2019) $2,100,000Cash sales (for the year of 2019) $20,000Credit sales returns and allowances (for the year of 2019) $80,000Accounts receivable (balance at 30 June 2019) $593,000Allowance for doubtful debts (credit balance at 30 June 2019) $2,800The company’s yearly bad debts expense had been estimated at 2.5% of net credit sales revenue in the past. The management of InvisiGuard Ltd has decided to compare the current method with an ageing of accounts receivable method. The following analysis was obtained with respect to theaccounts receivable. Age Balance % of estimated uncollectableAccounts not yet due $351,200 1Accounts overdue 10-30days $ 92,000…
What is the net realizable value of the receivables which should be presented in the statement of financial position?