Question
Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo $ 1,715 $ 2,662 $ 312,427
Below are amounts (in millions) from three companies' annual reports.
Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo $ 1,715 $ 2,662 $ 312,427 TarMart 5,666 6,194 57,878 CostGet 529 565 58,963
Required:
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet
Below are amounts (in millions) from three companies' annual reports.
| Beginning Accounts Receivable | Ending Accounts Receivable | Net Sales | ||||||||||||
| WalCo | $ | 1,715 | $ | 2,662 | $ | 312,427 | ||||||||
| TarMart | 5,666 | 6,194 | 57,878 | |||||||||||
| CostGet | 529 | 565 | 58,963 | |||||||||||
Required:
1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
