Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Could someone provide the correct answers for the ones i missed Mathis and Hashey are two of the largest and most successful toymakers in the
Could someone provide the correct answers for the ones i missed Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following Information reported in their annual reports (amounts in millions), Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Mathis 2815 2014 2013 $3,956 $3,331 $4,118 1,078 684 810 13 16 17 1,065 668 793 Hashey 2015 2014 2013 $2,182 $2,168 $2,222 902 982 554 22 24 23 058 531 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2015 and 2014. TIP: In your calculations, use average Accounts Receivable, Net of Allowance (Use 365 days in a year. Do not round Intermediate calculations on Accounts Receivable Turnover Ratlo. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratlo for Days to Collect ratio calculation) Answer is complete but not entirely correct. 2015 Mathis 2014 Mathis 2.3 X Hashey 23 1507 Hashey 3.0 X Receivables Turnover Ratio Days to Collect 40 70.3 150.7 X 121.7
Could someone provide the correct answers for the ones i missed
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started