Soda Company and HBB Beverages are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 39, 140 4, 330 600 3, 730 Soda Company 2017 $ 43, 440 4,610 590 4,020 2016 $ 46, 700 4,830 580 4, 250 2018 $ 79,200 8,080 100 7,980 HBB Beverages 2017 $ 79, 715 7,990 130 7, 860 2016 $ 70,060 7,610 140 7, 470 Required: 1. Calculate the receivables turnover ratios and days to collect for Soda Company and HBB Beverages for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 2B Calculate the receivables turnover ratios and days to collect for Soda Company and HBB Beverages for 2018 and 2017. (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.) Show less 2018 2017 Soda Company HBB Beverages Soda Company HBB Beverages Receivables Turnover Ratio Days to collect Soda Company and HBB Beverages are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 39, 140 4, 330 600 3, 730 Soda Company 2017 $ 43, 440 4,610 590 4,020 2016 $ 46, 700 4,830 580 4, 250 2018 $ 79,200 8,080 100 7, 980 HBB Beverages 2017 $ 79, 715 7,990 130 7, 860 2016 $ 70,060 7,610 140 7, 470 Required: 1. Calculate the receivables turnover ratios and days to collect for Soda Company and HBB Beverages for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Req 1 Reg 2A Reg 2B Which of the companies was quicker to convert its receivables into cash in 2018? Soda Company OHBB Beverages Soda Company and HBB Beverages are two of the largest and most successful beverage companies in the world in terms of the products that they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following rounded amounts reported in their annual reports (amounts in millions). Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 39, 140 4, 330 600 3, 730 Soda Company 2017 $ 43, 440 4,610 590 4,020 2016 $ 46, 700 4,830 580 4, 250 2018 79,200 8,080 100 7, 980 HBB Beverages 2017 $ 79, 715 7,990 130 7, 860 2016 $ 70,060 7,610 140 7, 470 Required: 1. Calculate the receivables turnover ratios and days to collect for Soda Company and HBB Beverages for 2018 and 2017. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its receivables into cash in 2017? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Reg 2B Which of the companies was quicker to convert its receivables into cash in 2017? OHBB Beverages Soda Company
