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• Exercise 5-18 Calculate rece ivables ratios (LO5-8) Below are amounts (in millions) from three companies' annual re...

Exercise 5-18 Calculate rece ivables ratios (LO5-8) Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Ending Accounts Receivable \$2,702 6,394 605 Receivable \$1,755 5,866 569 Net Sales \$316,427 WalCo TarMart 61,878 CostGet 62,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not m your answers in...

• Exercise 5-18A Calculate receivables ratios (LO5-8) Below are amounts (in millions) from three companies' annual reports....

Exercise 5-18A Calculate receivables ratios (LO5-8) Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable \$1,735 5,766 549 Ending Accounts Receivable \$2.682 6,294 585 Walco TarMart CostGet Net Sales \$314,427 59,878 60,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your...

• please explain ! :) Below are amounts (in millions) from three companies' annual reports. Beginning Accounts...

please explain ! :) Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable \$1,745 5,816 S59 Ending Accounts Receivable \$2,692 6,344 595 Walco Tar Mart Costet Net Sales \$315,427 60,878 61,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers...

• Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are...

Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: (\$ in millions) Net Sales Beginning Accounts Receivable Ending Accounts Receivable Walmart \$ 450,854 \$ 5,414 \$ 6,287 Target 72,316 6,328 6,102 Problem 5-9A Calculate and analyze ratios (L05-8) Assume selected financial data for Walmart and Target, two close competitors in the...

• Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables...

Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 2013 (1) (2) (3) (4) Month of Sales Age of Account Amounts Percent of Amount Due April................................. 0–30 \$ 131,250 ____ March............................... 31–60 93,750 ____ February........................... 61–90 112,500 ____ January............................. 91–120 37,500 ____    Total receivables............ \$ 375,000 100%             a. Fill...

• Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables...

Route Canal Shipping Company has the following schedule for aging of accounts receivable: Age of Receivables April 30, 20X1 (1) (2) (3) (4) Month of Sales Age of Account Amounts Percent of Amount Due April 0–30 \$ 253,750 _______ March 31–60 145,000 _______ February 61–90 217,500 _______ January 91–120 108,750 _______ Total receivables \$ 725,000 100% a. Calculate the percentage...

• Kerwick Company had accounts receivable of \$100,000 on January 1, 2017. The only transactions that affected...

Kerwick Company had accounts receivable of \$100,000 on January 1, 2017. The only transactions that affected accounts receivable during 2017 were net credit sales of \$1,000,000, cash collections of \$92,000 and accounts written off of \$30,000. a) Compute the ending balance of accounts receivable. b) Compute the accounts receivable turnover for 2017. c) Compute the average collection period in days....

• Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable...

Below are amounts (in millions) from three companies' annual reports. Beginning Accounts Receivable Ending Accounts Receivable Net Sales WalCo \$ 1,815 \$ 2,762 \$ 322,427 TarMart 6,166 6,694 67,878 CostGet 629 665 68,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions....

• Exercise 5-20A Compare the percentage-of-receivables method and the percentage-of-credit-sales method (LO5-9) (The following information applies to...

Exercise 5-20A Compare the percentage-of-receivables method and the percentage-of-credit-sales method (LO5-9) (The following information applies to the questions displayed below.) Suzuki Supply reports the following amounts at the end of 2021 (before adjustment). Credit Sales for 2021 Accounts Receivable, December 31, 2021 Allowance for Uncollectible Accounts, December 31, 2021 \$250,000 45,000 1,000 (debit) kercise 5-20A Part 1 quired: Record the...

• At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts...

At December 31, 2017, Oak Ridge Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts \$549,000 40,000 During 2018, the company had the following summary transactions related to receivables and sales. Oak Ridge uses the perpetual inventory system. 1. Sales on account amounted to \$2,277,000. The cost of the inventory sold was \$1,935,450....