Please do not give solution in image format thanku Below are amounts (in millions) from three companies' annual reports.WalCoTarMartCostGetWalCoTarMartCostGetWalCoTarMartCostGetBeginning AccountsRequired:1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.2. Which company appears most efficient in collecting cash from sales?Required 1Required 1 Required 2Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millionsrounded to 1 decimal place.)Choose NumeratorReceivable$1,7255,716539Choose NumeratorRequired 2Receivables Turnover RatioEnding AccountsChoose DenominatorAverage Collection PeriodChoose Denominator< Required 1Receivable$2,6726,244575Complete this question by entering your answers in the tabs below.CostGetTarMartWalCoRequired 2Which company appears most efficient in collecting cash from sales?Most efficient in collecting cash from sales>Receivables turnover ratiotimestimestimesAverage collection perioddaysdaysdaysNet Sales$313,42758,87859,963Required 2 >

The ratio analysis helps to analyse the financial statements on the basis of the different elements…

WalCo TarMart CostGet Beginning Accounts Receivable $1,725 5,716 539 Ending Accounts Receivable $2,672 6,244 575 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Net Sale: $313,427 58,878 59,963

WalCo TarMart CostGet Beginning Accounts Receivable $1,725 5,716 539 Ending Accounts Receivable $2,672 6,244 575 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. 2. Which company appears most efficient in collecting cash from sales? Net Sale: $313,427 58,878 59,963

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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Question

Please do not give solution in image format thanku

Below are amounts (in millions) from three companies' annual reports.
WalCo
TarMart
CostGet
WalCo
TarMart
CostGet
WalCo
TarMart
CostGet
Beginning Accounts
Required:
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet.
2. Which company appears most efficient in collecting cash from sales?
Required 1
Required 1 Required 2
Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Enter your answers in millions
rounded to 1 decimal place.)
Choose Numerator
Receivable
$1,725
5,716
539
Choose Numerator
Required 2
Receivables Turnover Ratio
Ending Accounts
Choose Denominator
Average Collection Period
Choose Denominator
< Required 1
Receivable
$2,672
6,244
575
Complete this question by entering your answers in the tabs below.
CostGet
TarMart
WalCo
Required 2
Which company appears most efficient in collecting cash from sales?
Most efficient in collecting cash from sales
>
Receivables turnover ratio
times
times
times
Average collection period
days
days
days
Net Sales
$313,427
58,878
59,963
Required 2 >

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