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Category > Accounting Posted 04 Aug 2017 My Price 6.00

Del Monte Foods Co

According to the table below contains selected financial information included in the 2013 financial statements ofDel Monte Foods Co. and Smithfield Foods Inc.

Calculate the 2013 receivables turnover ratio and average collection period for both companies. Evaluate the management of each company's investment in receivables.

my answer

Del Monte: Receivable Turnover Ratio- 19.74 Times Average Collection Period- 18.49 Days

Smithfield: Receivable Turnover Ratio- 20.53 Times Average Collection Period- 17.78 Days

Smithfield collects its receivables .71 days faster than Del Monte. But, neither of these companies invest much into receivables. Considering their Receivable Turnover Ratio is 19.74 and 20.53 respectively, this would be expected. Most of their receivable's would be collected at the time of the sale with cash/credit cards.

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Maurice Tutor
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Status NEW Posted 04 Aug 2017 03:08 PM My Price 6.00

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