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Compute the accounts receivable turnover

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Question - Financial and Managerial Accounting

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 Sales $156,508 Accounts receivable at end of year 21,275

Year 1 $108,249 13,731

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

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

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

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

Reference no: EM132082791

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