E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4) Shiplt Corporation...
70.2K
Verified Solution
Link Copied!
Question
Accounting
E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4) Shiplt Corporation reported the following rounded amounts (in millions): Accounts Receivable Allowance for Doubtful Accounts Accounts Receivable, Net of Allowance Net Sales (assume all on credit) 2016 $ 5, 415 (295) $ 5,120 $40,000 2015 $ 5,1207 (300 $4,820 $38,500 Required: 1. Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.) Answer is complete but not entirely correct. Receivables Turnover Ratio Days to Collect 7.8 3 times 48.8 % days
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.