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Compute for each company accounts receivable turnover rate

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Question - The following information was taken from recent annual reports of the GOODYEAR TIRE RUBBER, and PPL ENERGY CO, a public utility.

Net Sales......... Gooyear = $19.6 billion .... PPL $5.1 billion

Average Accounts Receivable.... Goodyear = 3.1 billion......PPL = $376 million

a. Compute for each company the accounts receivable turnover rate for the year.

b. Compute for each company the average number of days required to collect outstanding receivables. ( round to nearest whole day0

c. Explain why the figures computed for Good Year in parts a. and b. Are so different then those computed for PPL.

Reference no: EM131831894

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