Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Walco TarMart CostGet ALLVU Receivable $1,775 5,966 589 RULUI Receivable $2,722 6,494 625 Net Sales $318,427 63,878 64,963 Required: 1. Calculate the receivables turnover ratio

image text in transcribed
Walco TarMart CostGet ALLVU Receivable $1,775 5,966 589 RULUI Receivable $2,722 6,494 625 Net Sales $318,427 63,878 64,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for Walco, TarMart and CostGet. (Do not roum intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables ratio" answers to one decimal place.) Answer is complete but not entirely correct. Receivables turnover ratio $ Walco TarMart CostGet 318,427 63,878 Receivables Turnover Ratio Average accounts receivable $ 2,248.5 $ 6,230.0 $ 607.0 Receivables turnover ratio 141.6 times 10.3 times 107.0 times $ $ 64.963 x Average Collection Period Average accounts receivable Net sales 3,136 9.2133 607 Walco TarMart CostGet 318.4 Average collection period 9.8 days 144.2 9.3 days 63.9 X 65.0 % days

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

Step: 3

blur-text-image

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

Intermediate Accounting Volume 2

Authors: Hanlon, Hodder, Nelson, Roulstone, Dragoo

2nd Edition

1618533134, 9781618533357

More Books

Students also viewed these Accounting questions