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Question: Calculate accounts receivable turnover ratio for 2019

3 Months Ended Jun 30, 2018 Mar. 31, 2018 12 Months Ended Mar. 31, 2018 Mar. 31, 2019 Dec 31, 2018 Sep 30, 2018 Dec 31, 201767 575 CONSOLIDATED BALANCE SHEETS - USD ($) Mar. 31, 2019 Mar. 31, 2018 $ in Millions Current assets Cash and cash equivalenMar. 31, 2019 Mar. 31, 2018 CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares Statement of Financial Position [Abstra93 0 (302) 140 (223) 457 CONSOLIDATED STATEMENTS OF 12 Months Ended CASH FLOWS - USD ($) $ in Millions Mar. 31, 2019 Mar. 31,

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Answer #1

Accounts receivable turnover ratio for 2019:

= Turnover / Average accounts receivable

Where turnover is $ 33,600 millions

Accounts receivable end of 2019 is $ 3,554 millions

Accounts receivable end of 2018 was $ 3,711 millions

= $ 33,600 millions / ($ 3,554 millions + $ 3,711 millions)/2

= $ 33,600 millions / $ 3,632.5 millions

= 9.25 times

Average accounts receivable turnover ratio is 9.25 times

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