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Category > Accounting Posted 19 Aug 2017 My Price 6.00

Apple Inc

CP 8-4  Accounts receivable turnover and days’ sales in receivables

Apple Inc. designs, manufactures, and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers. Substantially all of the company’s sales over the last five years are from sales of its Macs, iPods, iPads, and related software and peripherals. For two recent fiscal years, Apple reported the following (in millions):

 

 

year 2

year 1

Sales

$156,508

$108,249

Accounts receivable at end of year

21,275

13,731

Assume that the accounts receivable (in millions) were $11,560 at the beginning of fis- cal Year 1.

1.     Compute the accounts receivable turnover for Year 2 and Year 1. Round to one deci- mal place.

2.     Compute the days’ sales in receivables at the end of Year 2 and Year 1. Use 365 days and round to one decimal place.

3.     What conclusions can be drawn from (1) and (2) regarding Apple’s efficiency in collecting receivables?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 19 Aug 2017 09:08 PM My Price 6.00

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