I am computing accounts receivable turnover and am using:Net Sales over current assets for each of the questions.I got - a.) 11.3% - correct but not the rest. I am using the same formula for all of them.What am I doing wrong?Peggy I have attached the image. AA 9-2 Comparative Analysis LO A1, P2Comparative figures for Apple and Google follow.tsAppleGoogleTwo YearsTwo YearsPrior$ 17,874One YearOne Year$ millionsCurrent YearPriorCurrent YearPriorPrior$ 23,186265,595$ 20,838$ 25,326Accounts receivable, netNet sales$ 22,926260,174$ 18,336110,855еВook229, 234161,857136,819Required:1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google.2. Which company more quickly collects its accounts receivable in the current year?eferencesComplete this question by entering your answers in the tabs below.Required 1Required 2Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. (Round your answersto 1 decimal place.)Accounts Receivable TurnoverCurrent YearPrior Yearа. Аpleb. Google11.3 times11.5 times6.4 times6.6 times< Required 1Required 2 >

Accounts receivable is the amount of goods sold that is expected to be received from the customer in…

Comparative figures for Apple and Google follow. Аpple Google Two Years Prior Two Years One Year One Year Prior $ millions Accounts receivable, net Current Year Prior Current Year Prior $ 22,926 260,174 $ 23,186 265,595 $ 17,874 229,234 $ 25,326 161,857 $ 20,838 136,819 $ 18,336 110,855 Net sales Required: 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. (Round your answers to 1 decimal place.) Accounts Receivable Turnover Current Year Prior Year а. Аpple b. Google 11.5 times 6.6 times 11.3 times 6.4 times

Comparative figures for Apple and Google follow. Аpple Google Two Years Prior Two Years One Year One Year Prior $ millions Accounts receivable, net Current Year Prior Current Year Prior $ 22,926 260,174 $ 23,186 265,595 $ 17,874 229,234 $ 25,326 161,857 $ 20,838 136,819 $ 18,336 110,855 Net sales Required: 1. Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. 2. Which company more quickly collects its accounts receivable in the current year? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the accounts receivable turnover for the two most recent years for (a) Apple and (b) Google. (Round your answers to 1 decimal place.) Accounts Receivable Turnover Current Year Prior Year а. Аpple b. Google 11.5 times 6.6 times 11.3 times 6.4 times

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.1EX: Vertical analysis of income statement Revenue and expense data for Innovation Quarter Inc. for two...

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