Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

fill in blanks 6 value: 10.00 points Mathis and Hashey are two of the largest and most successful toymakers in the world, in terms of

image text in transcribedfill in blanks

6 value: 10.00 points 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) Hashe Mathis 2011 Fiscal Year Ended: Net Sales 2010 $5,656 $5,131$5,718 2012 2012 2010 2011 $3,902 $3,768 $3,822 Accounts Receivable Allowance for Doubtful Accounts 1,158 21 764 24 890 25 982 30 634 31 1,062 32 Accounts Receivable, Net of Allowance 1,137 740 865 952 1,030 603 Required: 1. Calculate the receivables turnover ratios and days to collect for Mathis and Hashey for 2012 and 2011 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 Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2012 2011 Mathis Hashey Mathis Hashey Receivables Turnover Ratio Days to Collect 2-a. Which of the companies was quicker to convert its receivables into cash in 2012? Mathis Hashey 2-b. Which of the companies was quicker to convert its receivables into cash in 2011? Mathis Hashey

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Effectiveness Analysis Methods And Applications

Authors: Henry M. Levin, Patrick J. McEwan

2nd Edition

0761919333, 978-0761919339

More Books

Students also viewed these Accounting questions

Question

Summarize some human resource management training initiatives.

Answered: 1 week ago

Question

Summarize the training and development process.

Answered: 1 week ago

Question

Explain the concept of careers and career paths.

Answered: 1 week ago