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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

I need typing clear urjent no chatgpt use i will give 5 upvotes I need full explanation
Is there an excel table showing how to use functions?
1. DOT MATRIX PRINTERS ARE NOT CONSIDERED AS DESKTOP PRINTERS. A. TRUE B. FALSE
Please help me,
The easiest way to change the order in a chart is in the __________. Multiple Choice underlying spreadsheet slicer chart options chart itself