Microsoft Corporation reported the following information in its financial statements for three successive quarters during the...
Microsoft Corporation reported the following information in its financial statements for three successive quarters during the 2014 fiscal year ($ in millions): Three Months Ended 3/31/2014 (Q3) 12/31/2013 (Q2) 9/30/2013 (Q1) Balance sheets: Accounts receivable, net $ 13,497 $ 15,986 $ 11,007 Income statements: Sales revenue $ 20,403 $ 24,519 $ 18,529 Required: Compute the receivables turnover ratio and the average collection period for the second and third quarters. Assume that each quarter consists of 91 days. (Round average cost answers to 1 decimal place and "Turnover ratio" answers to 3 decimal places.)
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Microsoft Corporation reported the following information in its
financial statements for three successive quarters during the...
Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ i...
Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 9/30/2017 6/30/2017 3/31/2017 (21) (24) (23) $14,561 $19,792 $12,882 Balance sheets: Accounts receivable, net Income statements: Sales revenue $24,538 $23,317 $22,090 Required: Compute the receivables turnover ratio and the average collection period for Q1 and Q4. Assume that each quarter consists of 91 days. (Enter your answers in millions. Round average accounts receivable answers to nearest whole dollar and "Turnover...
Gates Electronics Corporattion reported the following information in s financial statements for three successive quarters(S in...
Gates Electronics Corporattion reported the following information in s financial statements for three successive quarters(S in mons Three Months Ended 12/31/2015 (02) 9/30/2015 6/38/2815 (Q1) (04) Salance sheets: Accounts receivable, set Income statesents: Sales revenoe $14,600 $17,200 $12,400 $ 23,055 $27,898 s21,129 Required: Compute the recevables turnover ratio and the average collection period for Q1 and Q2 Assume that each quarter consists of 91 days. (Enter your answers In millons. Round "Turnover ratio" answers to 3 decimal pleces.)
Real World Financials ABC Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 9/30/2017 (Q1) 6/30/2017 (Q4) 3/31/2017 (Q3) Balance sheets:
Real World FinancialsABC Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended9/30/2017 (Q1)6/30/2017 (Q4)3/31/2017 (Q3)Balance sheets:Accounts receivable, net$17,361$19,830$12,920Income statements:Sales revenue$24,570$23,350$22,160 Required:Compute the receivables turnover ratio and the average collection period for Q1 and Q4. Assume that each quarter consists of 91 days. (Round average accounts receivable answers to nearest whole dollar. Enter your answers in millions. Round "Turnover ratio" answers to 3 decimal places.)
Brief Exercise 8-14 (Part Level Submission) Maple Leaf Foods Inc. reported the following selected information (in...
Brief Exercise 8-14 (Part Level Submission) Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2015, 2014, and 2013: 2015 2014 2013 $37,173 $25,537 $20,498 Trade receivables (gross) Allowance for doubtful accounts Sales 4 80 3,292,932 3,157,241 2,954,777 (a) Calculate Maple Leaf's receivables turnover and average collection period for 2015 and 2014. (Round answers to 1 decimal place, e.g. 52.5.) 2015 2014 Receivables turnover times times Average collection period days days
GS&H had the following information on its financial statements for the fiscal years ended December 31....
GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars. Current assets Current liabilities Net sales Accounts receivable - gross Allowance for doubtful accounts 2023 $1.634 629 3,940 1,456 168 2022 $6,036 2.181 10.342 934 34 2021 $3,850 1,276 5.778 746 17 2020 $1,495 980 4,404 565 14 Calculate the following for the company: (1) (2) (3) current ratio for 2020 through 2023 receivable turnover ratio...
12. (6 points) Echo Corp. reported the following figures from its financial statements for the years 2013 through 2...
12. (6 points) Echo Corp. reported the following figures from its financial statements for the years 2013 through 2015 Net credit sales Accounts receivable 2015 860,222 66,444 2014 1,344,560 92,008 2013 888,600 67,855 Required: A. Calculate for 2015: 1. Accounts receivable turnover 2. Average collection period B. Calculate for 2014: 1. Accounts receivable turnover 2. Average collection period
On December 31, 2017 (the end of its fiscal year), LaCroix reported the following information. Balance...
On December 31, 2017 (the end of its fiscal year), LaCroix reported the following information. Balance Sheets 2019 2018 Current Assets Accounts receivable.net of allowances for doudal accounts of $17,079 and 516,700 $360,271 $315,050 In addition, LaCroix reported sales revenues of $2,017,800 for 2019. All sales are made on a credit hasis (terms, /30). Accounts receivables of $16.200 were written off in 2019 and there were no coveries of accounts receivable previously written off. LaCroix uses an aging approach for...
The financial statements of winery Andrew Peller Limited reported net sales of $342,606 thousand for its year ended Marc...
The financial statements of winery Andrew Peller
Limited reported net sales of $342,606 thousand for its
year ended March 31, 2017. Accounts receivable were $26,973
thousand at March 31, 2017, and $28,223 thousand at March 31,
2016.
Calculate the company’s accounts receivable turnover ratio and the
average collection period for accounts receivable in days.
(Round answers to 2 decimal places, e.g. 15.25. Use 365
days for calculation.)
Accounts receivable turnover ratio
enter Accounts receivable
turnover ratio in times
times
Average...
QUESTION 27 Suppose the following are the seasonal indices for the first three quarters of the...
QUESTION 27 Suppose the following are the seasonal indices for the first three quarters of the year for a quarterly series: Quarter Seasonal Index Q1 71.6 Q2 83.2 Q3 106 Remember that the seasonal indices should average 100 so you should be able to infer the seasonal index for Q4. Furthermore, suppose that the estimated coeffcients from a regression of the deseasonalized series on Time are given below: Coefficients Intercept 2,942 Time 67.1 What is the trend projection of the...
[The following information applies to the questions displayed below.] Selected comparative financial statements of Korbin Company...
[The following information applies to the questions displayed
below.] Selected comparative financial statements of Korbin Company
follow KORBIN COMPANY Comparative Income Statements For Years Ended
December 31, 2015, 2014, and 2013 2015 2014 Sales $ 490,941 $
376,101 Cost of goods sold 295,546 236,944 2013 $ 261,000 167,040
Gross profit Selling expenses Administrative expenses 195,395
69,714 44,185 139,157 51,902 33,097 93,960 34,452 21,663 Total
expenses 113,899 84,999 56,115 Income before taxes Income taxes
81,496 15,158 54,158 11,102 37,845 7,683 Net...
Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ in millions): Three Months Ended 9/30/2017 6/30/2017 3/31/2017 (21) (24) (23) $14,561 $19,792 $12,882 Balance sheets: Accounts receivable, net Income statements: Sales revenue $24,538 $23,317 $22,090 Required: Compute the receivables turnover ratio and the average collection period for Q1 and Q4. Assume that each quarter consists of 91 days. (Enter your answers in millions. Round average accounts receivable answers to nearest whole dollar and "Turnover...
Gates Electronics Corporattion reported the following information in s financial statements for three successive quarters(S in mons Three Months Ended 12/31/2015 (02) 9/30/2015 6/38/2815 (Q1) (04) Salance sheets: Accounts receivable, set Income statesents: Sales revenoe $14,600 $17,200 $12,400 $ 23,055 $27,898 s21,129 Required: Compute the recevables turnover ratio and the average collection period for Q1 and Q2 Assume that each quarter consists of 91 days. (Enter your answers In millons. Round "Turnover ratio" answers to 3 decimal pleces.)
Brief Exercise 8-14 (Part Level Submission) Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2015, 2014, and 2013: 2015 2014 2013 $37,173 $25,537 $20,498 Trade receivables (gross) Allowance for doubtful accounts Sales 4 80 3,292,932 3,157,241 2,954,777 (a) Calculate Maple Leaf's receivables turnover and average collection period for 2015 and 2014. (Round answers to 1 decimal place, e.g. 52.5.) 2015 2014 Receivables turnover times times Average collection period days days
GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of Canadian dollars. Current assets Current liabilities Net sales Accounts receivable - gross Allowance for doubtful accounts 2023 $1.634 629 3,940 1,456 168 2022 $6,036 2.181 10.342 934 34 2021 $3,850 1,276 5.778 746 17 2020 $1,495 980 4,404 565 14 Calculate the following for the company: (1) (2) (3) current ratio for 2020 through 2023 receivable turnover ratio...
12. (6 points) Echo Corp. reported the following figures from its financial statements for the years 2013 through 2015 Net credit sales Accounts receivable 2015 860,222 66,444 2014 1,344,560 92,008 2013 888,600 67,855 Required: A. Calculate for 2015: 1. Accounts receivable turnover 2. Average collection period B. Calculate for 2014: 1. Accounts receivable turnover 2. Average collection period
On December 31, 2017 (the end of its fiscal year), LaCroix reported the following information. Balance Sheets 2019 2018 Current Assets Accounts receivable.net of allowances for doudal accounts of $17,079 and 516,700 $360,271 $315,050 In addition, LaCroix reported sales revenues of $2,017,800 for 2019. All sales are made on a credit hasis (terms, /30). Accounts receivables of $16.200 were written off in 2019 and there were no coveries of accounts receivable previously written off. LaCroix uses an aging approach for...
The financial statements of winery Andrew Peller
Limited reported net sales of $342,606 thousand for its
year ended March 31, 2017. Accounts receivable were $26,973
thousand at March 31, 2017, and $28,223 thousand at March 31,
2016.
Calculate the company’s accounts receivable turnover ratio and the
average collection period for accounts receivable in days.
(Round answers to 2 decimal places, e.g. 15.25. Use 365
days for calculation.)
Accounts receivable turnover ratio
enter Accounts receivable
turnover ratio in times
times
Average...
[The following information applies to the questions displayed
below.] Selected comparative financial statements of Korbin Company
follow KORBIN COMPANY Comparative Income Statements For Years Ended
December 31, 2015, 2014, and 2013 2015 2014 Sales $ 490,941 $
376,101 Cost of goods sold 295,546 236,944 2013 $ 261,000 167,040
Gross profit Selling expenses Administrative expenses 195,395
69,714 44,185 139,157 51,902 33,097 93,960 34,452 21,663 Total
expenses 113,899 84,999 56,115 Income before taxes Income taxes
81,496 15,158 54,158 11,102 37,845 7,683 Net...
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