The Campbell Soup Company manufactures and markets food products throughout theworld. The following sales and receivable data (in millions) were reported by CampbellSoup for two recent years:Year 2Year 1$8,082$8,268Sales670Accounts receivable647Assume that the accounts receivable (in thousands) were $635 million at the beginning of Year 1.a. Compute the accounts receivable turnover for Year 2 and Year 1. Round average ac-counts receivable to one decimal place and accounts receivable turnover to two decimalplaces.b. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 daysand round to one decimal place.What conclusions can be drawn from these analyses regarding Campbell'sC.efficiency in collecting receivables?

Accounts receivable turnoverAccounts receivable turnover is a liquidity measure of accounts…

Answered: The Campbell Soup Company manufactures…

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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The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of S80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the average collection period for accounts receivable in days (rounded)? O 49 days O 16 days 24 days 32 days
Below are amounts (in millions) from three companies' annual reports. Beginning Ending Accounts Accounts Receivable Receivable Net Sales $1,715 5,666 529 WalCo TarMart CostGet Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet $2,662 $312,427 6,194 57,878 565 58,963
Financial statement data for the year ending December 31 for Flagg Co. are as follows: Sales $4,250,000 Accounts receivable: Beginning of year 600,000 End of year 630,000 Determine the number of days' sales in receivables for the year. a.50.0 days b.52.8 days c.54.1 days d.51.5 days
Please read and enter answers carefully using the table provided.
Hello question is attached, thanks.
A company reports the following: Sales $1,359,990 Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a. Determine the accounts receivable turnover.fill in the blank 1 b. Determine the number of days' sales in receivables.fill in the blank 2
Accounts receivable management This table,, shows that Blair Supply had an end-of-year accounts receivable balance of $300,060 The table also shows how much of the receivables balance originated in each of the previous six months. The company had annual sales of $2.40 million and it normally extends 30-day credit terms to its customers. a. Use the year-end total to evaluate the firm's collection system. b. If 70% of the firm's sales occur between July and December, would this affect the validity of your conclusion in part a? Explain. a. The average collection period is days. (Round to two decimal places.) Data table (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Month of Amounts receivable origin July $3,880 August 2,005 September 33,995 October 15,150 November 52,005 December 193,025 Year-end accounts receivable $300,060 - X
Marie's Clothing Store had an accounts receivable balance of $410,000 at the beginning of the year and a year-end balance of $610,000. Net credit sales for the year totaled $3,000,000. The average collection period of the receivables was: (Round any intermediary calculations to two decimal places and your final answer to the nearest day) OA 74 days OB. 50 days OC. 12 days OD. 62 days
Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P350,000 and P250,000, respectively. The accounts receivable turnover ratio was * a. 10.0 times. b. 17.1 times. c. 13.3 times. d. 20.0 times.
The financial statements of the Sunland Company report net sales of $384000 and accounts receivable of $50400 and $33600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days?
SheridanStore had a balance in the Accounts Receivable account of $510000 at the beginning of the year and a balance of $690000 at the end of the year. Net credit sales during the year amounted to $642000o. The accounts receivable turnover was a.10.3 times. b.126 times. c.10.7 times. d.5.4 times.
I Need help finding the number of days of sales.....

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