The following information was taken from recent annual reports of Goodyear Tire & Rubber and PPL Corp.,
Question:
Goodyear PPL
Net sales....................................................................$18.1 billion.....$ 11.5 billion
Average accounts receivable ...............................................2.3 billion.......923 million
a. Compute for each company the accounts receivable turnover rate for the year.
b. Compute for each company the average number of days required to collect outstanding receivables (round answers to nearest whole day).
c. Explain why the figures computed for Goodyear in parts a and b are so different from those computed for PPL.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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a Accounts receivable turnover rate net salesaverage accounts receivable Goodyear Tire Rubber 1812...View the full answer
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Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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