Do not give answer in image PA8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO8-4]Cola Inc. and Soda Co. are two of the largest and most successful beverage companies in the world in terms of the products that theysell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following roundedamounts reported in their annual reports (amounts in millions).Fiscal Year Ended:Net SalesAccounts ReceivableAllowance for Doubtful AccountsAccounts Receivable, Net of AllowanceReceivables Turnover RatioDays to collectCola Inc.2015Cola Inc.201420152013$37,019 $32,990 $33,9444,538 3,853 3,1815259554,486 3,7943,126Required:1. Calculate the ables turnover ratios and days to collect for Cola Inc. and Soda Co. for 2015 and 2014. (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.)Soda Co.Cola Inc.20142015$59,8386,507Soda Co.1486,359Soda Co.20142013$45,432 $45,2514,754943,824744,6603,750

The ratio analysis helps to analyse the financial statements of the business.Average account…

PA8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Cola Inc. and Soda Co. 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 2013 Cola Inc. 2015 2014 $37,019 $32,990 $33,944 4,538 3,853 3,181 52 4,486 2013 Soda Co. 2015 2014 $59,838 $45,432 $45,251 6,507 4,754 148 94 3,824 74 3,750 59 55 3,794 3,126 6,359 4,660 Required: 1. Calculate the receivables turnover ratios and days to collect for Cola Inc. and Soda Co. for 2015 and 2014. (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.)

PA8-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Cola Inc. and Soda Co. 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 2013 Cola Inc. 2015 2014 $37,019 $32,990 $33,944 4,538 3,853 3,181 52 4,486 2013 Soda Co. 2015 2014 $59,838 $45,432 $45,251 6,507 4,754 148 94 3,824 74 3,750 59 55 3,794 3,126 6,359 4,660 Required: 1. Calculate the receivables turnover ratios and days to collect for Cola Inc. and Soda Co. for 2015 and 2014. (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.)

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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