The financial statements of Hershey Foods are presented in Appendix B, following the financial statements for Tootsie

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The financial statements of Hershey Foods are presented in Appendix B, following the financial statements for Tootsie Roll in Appendix A.

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(a) Based on the information contained in these financial statements, compute the following 2004 values for each company.

(1) Receivables turnover ratio. (Assume all sales were credit sales.)

(2) Average collection period for receivables.

(b) What conclusions concerning the management of accounts receivable can be drawn from these data?

RESEARCH CASE

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471730514

4th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jul 05, 2024 10:08 AM

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The financial statements of Hershey Foods are presented in Appendix B, following the financial statements for Tootsie

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Financial Accounting Tools For Business Decision Making

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