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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
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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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 >
Transcribed Image Text: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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