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Category > Accounting Posted 20 Aug 2017 My Price 9.00

Limited Brands Inc.

EX 8-28  Accounts receivable turnover and days’ sales in receivables

The Limited Brands Inc. sells women’s clothing and personal health care products through specialty  retail  stores  including  Victoria’s  Secret  and  Bath  &  Body  Works  stores.      The

Limited Brands reported the following (in millions) for two recent years:

 

 

year 2

year 1

Sales

$10,364

$9,613

Accounts receivable

269

267

 

Assume that accounts receivable (in millions) were $249 at the beginning of Year 1.

a.     Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.

b.    Compute the day’s sales in receivables for Year 2 and Year 1. Use 365 days and round to one decimal place.

c.     What conclusions can be drawn from these analyses regarding The Limited Brands’ efficiency in collecting receivables?

 

Answers

Maurice Tutor
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Status NEW Posted 20 Aug 2017 06:08 PM My Price 9.00

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