The table below contains selected financial information included in the 2016 financial statements of Tyson Foods Incorporated and Pilgrim's Pride Corporation. Balance sheets: Accounts receivable, net Income statements: Net sales Receivables turnover ratio Average collection period Tyson Tyson 2019 $ 2,173 $ 42,405 times days 2018 $ 1,723 $ 40,052 Required: 1. Calculate the 2019 receivables turnover ratio and average collection period for both companies. Evaluate the management of each company's investment in receivables. Note: Do not round intermediate calculations and round final answers to 2 decimal places. Consider 365 days in a year. Pilgrim's Pride 2019 2018 $ 741 $ 11,409 Pilgrim's Pride times days $ 562 $ 10,938

The table below contains selected financial information included in the 2016 financial statements of Tyson Foods Incorporated and Pilgrim's Pride Corporation. Balance sheets: Accounts receivable, net Income statements: Net sales Receivables turnover ratio Average collection period Tyson Tyson 2019 $ 2,173 $ 42,405 times days 2018 $ 1,723 $ 40,052 Required: 1. Calculate the 2019 receivables turnover ratio and average collection period for both companies. Evaluate the management of each company's investment in receivables. Note: Do not round intermediate calculations and round final answers to 2 decimal places. Consider 365 days in a year. Pilgrim's Pride 2019 2018 $ 741 $ 11,409 Pilgrim's Pride times days $ 562 $ 10,938

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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