50.1K

Verified Solution

Link Copied!

help please

Homework saved Help Save & Exit Submit Check my work Robinson Robots and Mathis Incorporated 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) Fiscal Year Ended: Net Sales Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance 2018 $ 3,856 1,068 12 1,056 Robinson 2017 $3,131 674 15 659 2016 $ 3,918 880 16 784 2018 $ 1.982 892 21 871 Mathis 2017 $ 1,968 972 23 949 2016 $ 2,022 544 22 522 Required: 1. Calculate the receivables turnover ratios and days to collect for Robinson and Mathis for 2018 and 2017 TIP: In your calculations, use average Accounts Receivable, Net of Allowance. 2-a. Which of the companies was quicker to convert its receivables into cash in 2018? 2-b. Which of the companies was quicker to convert its recelvables into cash in 2017? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Reg 1 Req 2A Req 2B Calculate the receivables turnover ratios and days to collect for Robinson and Mathis for 2018 and 2017. TIP: In your calculations, use average Accounts Receivable, Net of Allowance. (Use 365 days in a year. Do not round 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.) Show less 2018 Robinson 2017 Robinson Mathis Mathis Receivables Turnover Ratio Days to Collect Ren Req 2A >

Answer & Explanation Solved by verified expert

See Answer