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Compute for each company the accounts receivable turnover

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Question -

The following information was taken from recent annual reports of Goodyear Tire & Rubber and PPL Corp., a public utility:

Net sales Goodyear $21.0 billion PPL $12.2 billion

Average accounts receivable Goodyear 2.7 billion PPL 824 million

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

b. Ccompute for each company the average number of days required to collect outstanding receivables ( round answers to nearest whole day)

c. Explain why the figures computed for Goodyear in parts a and b are so different from those computed for PPL.

Reference no: EM131565236

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