In its most recent annual report Leggett & Platt reported sales of $14,735 million. It also reported accounts receivable of $834 million at the beginning of the year and accounts receivable of $959 million at the end of the year. Calculate the accounts receivable turnover ratio. Present your answer to one decimal place. e.g. 20.0. Please show steps.
Average accounts receivables = (Beginning value + ending value) / 2
Average accounts receivables = (834 + 959) / 2
Average accounts receivables = 896.5
Receivables turnover = Sales / Average receivables
Receivables turnover = 14,735 / 896.5
Receivables turnover = 16.44
In its most recent annual report Leggett & Platt reported sales of $14,735 million. It also...
Leggett & Platt reported sales of $7,982 million. It also reported accounts receivable (net of an allowance for doubtful accounts of $36 million) of $617 million at the beginning of the year and accounts receivable (net of an allowance for doubtful accounts of $36) of $676 million at the end of the year. Calculate the average days that gross receivables were outstanding for the year.
Obtain a copy of the annual report of Avon Products, Inc. for the most recent year. You can find the annual report at the company's website (www.avon.com (Links to an external site.)) in the investor information section or at the Securities and Exchange Commission's website (www.sec.gov (Links to an external site.)). using EDGAR (Electronic Data Gathering Analysis and Retrieval). Form 10-K, which includes the annual report is required to be filed on EDGAR. Search or scroll within the annual report...
For two recent years, Robinhood Company reported the following: 20Y9 20Y8 Sales $7,906,000 $6,726,000 Accounts Receivable Beginning of year $600,000 $540,000 End of year $580,000 $600,000 a) Determine the accounts receivable turnover for 20Y9 and 20Y8, Round answers to one decimal place. b) Determine the days' sales in receivables for 20Y9 and 20Y8. Use 365 days to round all calculations to one decimal place. c) Are the changes in the accounts receivable turnover and days' sales in...
Recent financial statements of General Mills, Inc. report net sales of $12,812,486,000. Accounts receivable are $914,562,000 at the beginning of the year and $957,899,000 at the end of the year. Compute General Mills' accounts receivable turnover. (Round answer to 2 decimal places, e.g. 15.25.) Accounts receivable turnover times e Textbook and Media Compute General Mills' average collection period for accounts receivable in days. (Round answer to 2 decimal places, e.g. 15.25.) Average collection period days e Textbook and Media
Suppose the 2022 financial statements of 3M
Company report net sales of $22.2 billion. Accounts
receivable (net) are $2.9 billion at the beginning of the year and
$3.02 billion at the end of the year.
Compute 3M’s accounts receivable turnover. (Round
answer to 1 decimal place, e.g. 12.5.)
Accounts receivable turnover ratio
enter the accounts receivable turnover ratio in times rounded
to 1 decimal place
Compute 3M’s average collection period for accounts receivable
in days. (Round answer to 1 decimal...
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 billion at the end of the year. (a1) * Your answer is incorrect. Compute 3M's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio 7.9 times
Recent financial statements of Sage Hill Ship Builders, Inc.
report net sales of $676,200,000. Accounts receivable are
$62,500,000 at the beginning of the year and $87,900,000 at the end
of the year. (Round answers to 2 decimal places, e.g.
50.27. Use 365 days for calculation.)
Compute Sage Hill’s accounts receivable turnover.
Accounts receivable
turnover
times
Compute Sage Hill’s average collection period for accounts
receivable in days.
Average collection period for
accounts receivable
days
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 billion at the end of the year. Compute 3M’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio enter the accounts receivable turnover ratio in times rounded to 1 decimal place times eTextbook and Media List of Accounts Compute 3M’s average collection period for...
A recent annual report for NPS contained the following data:
(dollars in thousands)
Current Year
Previous Year
Accounts receivable
$
3,727,000
$
4,527,000
Less: Allowance for doubtful accounts
185,000
148,000
Net accounts receivable
$
3,542,000
$
4,379,000
Net sales (assume all on credit)
$
35,397,000
Required:
1. Determine the receivables turnover ratio and
average days sales in receivables for the current year.
(Use 365 days a year. Do not round intermediate
calculations. Enter your answers in thousands not in
dollars.)...
#3
Solomon Company reports the following in its most recent year of operations: Sales, $1,081,600 (all on account) .Cost of goods sold, $633,600 .Gross profit, $448,000 Accounts receivable, beginning of year, $94,000 Accounts receivable, end of year, $114,000 Merchandise inventory, beginning of year, $59,000 Merchandise inventory, end of year, $69,000 Based on these balances, compute: a. The accounts receivable turnover. b. The inventory turnover. Required a Required b The accounts receivable turnover. Accounts Receivable Turnover Accounts Receivable Choose Numerator Choose...