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PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Big Green Corporation is well known for its fruit jams and Richardson Foods is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions). Fiscal Year Ended April 30: Net Sales Receivables Turnover Ratio Days to Collect 2019 $ 7,870 537 Big Green 2019 Richardson Foods Big Green 2018 $ 7,390 2 535 Required 1 416 Big Green 1 415 2017 $7,420 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 1. Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. 2. Which of the companies is quicker to convert its receivables into cash? 2018 470 2 468 Required 1 Required 2 Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.). 2019 $ 1,230 Richardson Foods Required 2 > BB 1 87 Richardson Foods 2018 $ 1,190. 76 1 75 2017 $ 1,290 76 1 75

PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Big Green Corporation is well known for its fruit jams and Richardson Foods is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions). Fiscal Year Ended April 30: Net Sales Receivables Turnover Ratio Days to Collect 2019 $ 7,870 537 Big Green 2019 Richardson Foods Big Green 2018 $ 7,390 2 535 Required 1 416 Big Green 1 415 2017 $7,420 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 1. Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. 2. Which of the companies is quicker to convert its receivables into cash? 2018 470 2 468 Required 1 Required 2 Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.). 2019 $ 1,230 Richardson Foods Required 2 > BB 1 87 Richardson Foods 2018 $ 1,190. 76 1 75 2017 $ 1,290 76 1 75

College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter16: Accounting For Accounts Receivable
Section: Chapter Questions
Problem 3CP: At the end of 20-3, Martel Co. had 410,000 in Accounts Receivable and a credit balance of 300 in...
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PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Big Green Corporation is well known for its fruit jams and Richardson Foods is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions). Fiscal Year Ended April 30: Net Sales Receivables Turnover Ratio Days to Collect Big Green 2019 $ 7,870 537 2 535 2019 Big Green 2018 $ 7,390 Richardson Foods Required 416 1 415 Big Green 2017 $7,420 2018 470 2 468 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 1. Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. 2. Which of the companies is quicker to convert its receivables into cash? Required 1 Required 2 Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.). 2019 $ 1,230 Richardson Foods Required 2 > BB 1 87 Richardson Foods. 2018 2017 $ 1,190. $ 1,290 76 1 75 76 1 75
Transcribed Image Text:PB8-5 (Algo) Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratio, and Days to Collect [LO 8-4] Big Green Corporation is well known for its fruit jams and Richardson Foods is the company behind Green Giant canned vegetables. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions). Fiscal Year Ended April 30: Net Sales Receivables Turnover Ratio Days to Collect Big Green 2019 $ 7,870 537 2 535 2019 Big Green 2018 $ 7,390 Richardson Foods Required 416 1 415 Big Green 2017 $7,420 2018 470 2 468 Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Required: 1. Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. 2. Which of the companies is quicker to convert its receivables into cash? Required 1 Required 2 Calculate the receivables turnover ratios and days to collect for Big Green and Richardson Foods for the fiscal years ended in 2019 and 2018. (Use 365 days in a year. Round your answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.). 2019 $ 1,230 Richardson Foods Required 2 > BB 1 87 Richardson Foods. 2018 2017 $ 1,190. $ 1,290 76 1 75 76 1 75
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