Xavier Stores Company and Lestrade Stores Inc. are large retail department stores. Both companies offer credt to ther customers through ther own credit card operations. Information from the financial statements for both companies for two recent years is as follows (in millions) Xavier Lestrade Sales $8,500,000 $4,585,000 Credit card receivables beginnng 820,000 600,000 Credit card receviatles ending n80,000 710,000 a. Determene the (1) ccounts ercevable turnover and (2) the number of days' sales in recervables for both companies. Round your caloulations aed answers to one dedmal place. Assume 365 days a year Xavier Lestrade 1. Accounts receivable turnover 10 2. Number of days' sales in receivables days days than Lestrade's. The number of days' sales in receivables is lower for Xavier than for Lestrade. These b. Xavier's accounts receivable turnover is much higher differences indicate that Xavier is able to turn over its receivables more quickly than Lestrade. As a result, it takes Xavier less time to collect its receivables

Xavier Stores Company and Lestrade Stores Inc. are large retail department stores. Both companies offer credt to ther customers through ther own credit card operations. Information from the financial statements for both companies for two recent years is as follows (in millions) Xavier Lestrade Sales $8,500,000 $4,585,000 Credit card receivables beginnng 820,000 600,000 Credit card receviatles ending n80,000 710,000 a. Determene the (1) ccounts ercevable turnover and (2) the number of days' sales in recervables for both companies. Round your caloulations aed answers to one dedmal place. Assume 365 days a year Xavier Lestrade 1. Accounts receivable turnover 10 2. Number of days' sales in receivables days days than Lestrade's. The number of days' sales in receivables is lower for Xavier than for Lestrade. These b. Xavier's accounts receivable turnover is much higher differences indicate that Xavier is able to turn over its receivables more quickly than Lestrade. As a result, it takes Xavier less time to collect its receivables

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

Question 6 Listen Which of the following sets represent an intersection, union, subset, and com- plement? Hint: Consider if each number is in A, B, both, or neither. АПВ S S A B 3 2 4 6 5 7 8 10 1 9 a. (2) AUB b. {2,3,5,7} A C. (2,3,4,5,6,7,8,10}
Complete requirement 1
Section 1250 summary
WHat ia 2 plus 2
two questions
E12.17
You put 491-28 why is it 28 and not - 175?? Can you explain that please?
E12.4
LO 7.4 Name the four main special journals.
it say 1.33 is incorrect
5 basic of pulic sector ethics
Answer Question 4