CP3-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratlo, and Days to Collect [LO 8-4]...
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CP3-5 Analyzing Allowance for Doubtful Accounts, Receivables Turnover Ratlo, and Days to Collect [LO 8-4] Mathis and Hashey are two of the largest and most successful toymakers in the world. In terms of the products they sell and their receivables management practices. To evaluate their ability to collect on credit sales, consider the following Information reported in their annual reports (amounts in millions). 2015 $4,856 Mathis 2014 2013 $4.231 54,918 2015 Hashey 2014 $2.868 1. e22 Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2013 $3.0 Required: 1 Calculate the receivables turnover ratios and days to collect for Mathis and Hashev for 2015 and 2014. TIP. In your calculations, use average Accounts Recevable, Net Of Allowance (Use 365 days in a year. Do not found intermediate calculations on Accounts Receivable Turnover Ratio. Round your final answers to 1 decimal place. Use final rounded answers from Accounts Receivable Turnover Ratio for Days to Collect ratio calculation.) 2015 Mathis Hashey Mathis H ashey Receivables Turnover Ratio Days to Colect 2-3. Which of the companies was quicker to convertits receivables into cosh 2015 HOS
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