Homework Answers
Average accounts receivables = (Beginning accounts receivable + Ending accounts receivable) / 2
Walmart = ($5,414 + $6,287) / 2
= $5,850.5
Target = ($6,328 + $6,102)
= $6,215
1-a
Accounts receiable turnover ratio
| Net sales | / | Average accounts receivable | = | Receivables Turnover ratio | |
| Walmart | $450,854 | / | $5,850.5 | = | 77.1 times |
| Target | $72,316 | / | $6,215 | = | 11.6 times |
Average collection period
| 365 | / | Receivables Turnover ratio | = | Average collection period | |
| Walmart | 365 | / | 77.1 | = | 4.7 days |
| Target | 365 | / | 11.6 | = | 31.5 days |
1-b
Walmart company maintains a higher receivables turnover.
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Assume selected financial data for Walmart and Target, two
close competitors in the retail industry, are...
Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are...
Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts Receivable ($ in millions) Walmart Target Net Sales $463,854 79,466 Beginning Accounts Receivable $6,064 6,653 $6,937 6,427 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your Intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio = Receivables Turnover Ratio Walmart Target...
6 Assume selected financial data for Walmart and Target. Iwo close competitors in the retail industry,...
6 Assume selected financial data for Walmart and Target. Iwo close competitors in the retail industry, are as follows: Beginning Accounts Receivable $5,454 Ending Accounts Receivable $6,337 6,127 Net Sales $451,854 72,866 2 points is in millions) Walsart Target Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Print Receivables Turnover Ratio Receivables Turnover Ratio...
* Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are...
* Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Stores, Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Wal-Mart Target Corporation Inc. Income Statement Data for Year $66,300 $411,000 44,000 305,000 14,300 77,000 660 1,900 (80) (420) 1,500 7,200 $5,760 $19,480 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and...
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 $314,427 59,878 60,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio...
Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ 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...
Below are amounts (in millions) from three companies' annual reports. Walco TarMart CostGet Beginning Ending Accounts...
Below are amounts (in millions) from three companies' annual reports. Walco TarMart CostGet Beginning Ending Accounts Accounts Receivable Receivable $1,685 $2,632 5,516 6,044 499 535 Net Sales $309,427 54.878 55,963 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. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables turnover ratio times Walco TarMart...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in Millions). Net...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in Millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year $65,357 $408,214 45,583 304,657 15,101 79,607 707 2,065 (94) (411) 1,384 7.139 $ 2,488 $ 14,335 Balance...
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 in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables...
Exercise 18-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in...
Exercise 18-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 1,289 3,600 1,600 571 $7,060 $3,530 Beginning of Year $ 126 3,400 1,600 531 $5,657 $2,802 For the year, net credit sales were $14,350 million, cost of goods sold was $9,280 million, and net cash provided by...
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 $316,427 WalCo TarMart 61,878 CostGet 62,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not m your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers Receivables Turnover Ratio Receivables turnover ratio WalCo times TarMart...
Assume selected financial data for Walmart and Target, two close competitors in the retail industry, are as follows: Ending Accounts Receivable ($ in millions) Walmart Target Net Sales $463,854 79,466 Beginning Accounts Receivable $6,064 6,653 $6,937 6,427 Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target. (Enter your answers in millions. Do not round your Intermediate calculations and round your answers to 1 decimal place.) Receivables Turnover Ratio = Receivables Turnover Ratio Walmart Target...
6 Assume selected financial data for Walmart and Target. Iwo close competitors in the retail industry, are as follows: Beginning Accounts Receivable $5,454 Ending Accounts Receivable $6,337 6,127 Net Sales $451,854 72,866 2 points is in millions) Walsart Target Required: 1-a. Calculate the receivables turnover ratio and average collection period for Walmart and Target (Enter your answers in millions. Do not round your intermediate calculations and round your answers to 1 decimal place.) Print Receivables Turnover Ratio Receivables Turnover Ratio...
* Problem 13-05A a Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in millions). Stores, Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Wal-Mart Target Corporation Inc. Income Statement Data for Year $66,300 $411,000 44,000 305,000 14,300 77,000 660 1,900 (80) (420) 1,500 7,200 $5,760 $19,480 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and...
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 $314,427 59,878 60,963 Required: 1. Calculate the receivables turnover ratio and the average collection period for WalCo, TarMart and CostGet. (Do not round intermediate calculations. Enter your answers in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio...
Microsoft Corporation reported the following information in its financial statements for three successive quarters ($ 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...
Below are amounts (in millions) from three companies' annual reports. Walco TarMart CostGet Beginning Ending Accounts Accounts Receivable Receivable $1,685 $2,632 5,516 6,044 499 535 Net Sales $309,427 54.878 55,963 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. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables turnover ratio times Walco TarMart...
Suppose selected financial data of Target and Wal-Mart for 2020 are presented here (in Millions). Net sales Cost of goods sold Selling and administrative expenses Interest expense Other income (expense) Income tax expense Net income Current assets Noncurrent assets Total assets Current liabilities Long-term debt Total stockholders' equity Total liabilities and stockholders' equity Target Wal-Mart Corporation Stores, Inc. Income Statement Data for Year $65,357 $408,214 45,583 304,657 15,101 79,607 707 2,065 (94) (411) 1,384 7.139 $ 2,488 $ 14,335 Balance...
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 in millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers to one decimal place.) Receivables Turnover Ratio Receivables...
Exercise 18-07 Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Cash and cash equivalents Accounts receivable (net) Inventory Other current assets Total current assets Total current liabilities End of Year $ 1,289 3,600 1,600 571 $7,060 $3,530 Beginning of Year $ 126 3,400 1,600 531 $5,657 $2,802 For the year, net credit sales were $14,350 million, cost of goods sold was $9,280 million, and net cash provided by...
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 millions. Round your "Average accounts receivable" and "Receivables turnover ratio" answers Receivables Turnover Ratio Receivables turnover ratio WalCo times TarMart...
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