Quasar, Inc. sells clothing, accessories, and personal care products for men and women through its retail stores. Quasar reported the following data for two recent years:      Year 2    Year 1 Sales $4,446,795   $4,435,480   Accounts receivable 346,750   332,150   Assume that accounts receivable were $383,250 at the beginning of Year 1. a.  Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place. Year 2:   Year 1:   b.  Compute the days' sales in receivables for Year 2 and Year 1. Round interim calculations and final answers to one decimal place. Use 365 days per year in your calculations. Year 2:  days Year 1:  days c.  The change in accounts receivable turnover from year 1 to year 2 indicates a(n)   in the efficiency of collecting accounts receivable and is a(n)   change. The change in the days' sales in receivables indicates a(n)   change.

The financial statements of the Sunland Company report net sales of $384000 and accounts receivable of $50400 and $33600 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days?

The following data (in millions) were adapted from recent financial statements of CVS Health Corporation (CVS).   Year 2 Year 1 Sales   $256,776     $194,579   Operating income   12,467     10,170   Average accounts receivable   18,624     15,406   1.  Compute the accounts receivable turnover for Years 1 and 2. Round to one decimal place.   Accounts Receivable Turnover Year 2 fill in the blank 1 Year 1 fill in the blank 2 2.  Compute the days' sales in receivables for Years 1 and 2. Assume there are 365 days in the year, and round to the nearest day.   Number of Days' Salesin Receivables   Year 2 fill in the blank 3 days Year 1 fill in the blank 4 days 3.  Compute the return on sales for Years 1 and 2. Round to one decimal place.   Return on Sales   Year 2 fill in the blank 5 % Year 1 fill in the blank 6 % 4.  Based on the results in parts 1, 2, and 3, all the following are true except: The change in accounts receivable turnover from Year 1 to…

Accounts Receivable Turnover and Days' Sales in Receivables Rosco Co. manufactures and markets food products throughout the world. The following sales and receivable data were reported by Rosco for two recent years: Year 2 Year 1 Sales $7,259,850 $6,860,175 Accounts receivable 719,050 704,450 Assume that the accounts receivable were $602,250 at the beginning of Year 1. a. Compute the accounts receivable turnover for Year 2 and Year 1. Round your answers to one decimal place. Year 2: Year 1: b. Compute the days' sales receivables at the end of Year 2 and Year 1. Use 365 days per year your calculations. Round your answers to one decimal place. Year 2: days Year 1: days C. The change in the accounts receivable turnover from year 1 to year 2 indicates a(n) indicates a(n) - in the efficiency of collecting accounts receivable and is a(n) change. The change in the days' sales in receivables change. Check My Work Previous