Compute the accounts receivable turnover for 2007 and 2006

Assignment Help Accounting Basics
Reference no: EM131125543

H.J. Heinz Company was founded in 1869 at Sharpsburg, Pennsylvania, by Henry J. Heinz. The company manufactures and markets food products throughout the world, including ketchup, condiments and sauces, frozen food, pet food, soups, and tuna. For the fiscal years 2007 and 2006, H.J. Heinz reported the following (in thousands):


Assume that the accounts receivable (in thousands) were $1,092,394 at the beginning of 2006.

a. Compute the accounts receivable turnover for 2007 and 2006. Round to one decimal place.

b. Compute the days' sales in receivables at the end of 2007 and 2006. Round to one decimal place.

c. What conclusions can be drawn from these analyses regarding Heinz's efficiency in collectingreceivables?  

Reference no: EM131125543

Questions Cloud

Write a paper on being a social group member : Being a Social Group Member: Critical Analysis :The article in the journal of personality and social psychology, published in May 2015 is a great research work and learning experience. The articles gives ahead discussion on various concepts of social..
Explain the various website marketing strategies : BlingMyStyle, a fashion accessory shop in Soho, Manhattan, was set up by two Digital Arts graduates from Eastern, 6 months ago. While the in-store sales traffic seems to suggest that the store is really popular with the college students, their online..
Compute the average accounts receivable turnover ratio : Compute the average accounts receivable turnover ratio for The Limited, Inc., and H.J. Heinz Company for the years shown in Exercises 9-29 and 9-30.
What is meant by the channel of distribution : Most organizations seek consumer information, yet, why is a competitor analysis a crucial approach to evaluate the marketplace? List and explain the data to include in this analysis. List and explain five important changes/trends affecting marketing ..
Compute the accounts receivable turnover for 2007 and 2006 : What conclusions can be drawn from these analyses regarding Heinz's efficiency in collectingreceivables?
Case study on current global health problems : Write a case study on the topic of Current global health problems:A number of current global health problems are on the rise, among them some of the noteworthy rising at alarming rate includes diabetes, blood pressure, breast cancer and depression. D..
Highest expected payoff for this decision tree : A firm that plans to expand its production line must decide whether to build a small or large facility to produce the new products. If it builds a small facility and demand is low, the net present value after deducting for business costs will be $400..
What conclusions can be drawn from these analyses : What conclusions can be drawn from these analyses regarding Ralph Lauren's efficiency in collectingreceivables?
Comment on your findings on eastland industries : Improved management of working capital also will result in a net working capital increase of only $30,000. Estimate the net cash build or burn after a $50,000 debt repayment under both scenarios. Comment on your findings.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Balance sheet of microsoft corporation reported property

balance sheet of microsoft corporation reported property plant and equipment of 6078 million and accumulated

  Preventive or detective control plan

The controlled access to files, programs, and documentation is a principal responsibility of which of the following functions? 32. Which of the following personnel security control plans is corrective in nature as opposed to being a preventive or ..

  Compare the break-even points in units

Compare the break-even points in units. Fill in the table below (in dollars) to illustrate that the break-even points has been achieved.

  The equipment had a book value of 50000 at january 1 2010

wilson owned equipment with an estimated life of 10 years when it was acquired for an original cost of 80000. the

  Not-for-profit resources-inflows and outflows

The not-for-profit organization Save the Wolves Foundation is dedicated to research the state of the wolf population in the United States and Canada, educate the public about wolves, and prevent further endangerment of them. The following transact..

  Provide an example of the depreciation concept using the

provide an example of the depreciation concept using the following data. a new piece of equipment was purchased for

  Basic earnings per share

Angel's net income for the year ended December 31, 2009, was $6 million. The income tax rate is 20%. What is Angel's basic earnings per share for 2009, rounded to the nearest cent?

  Ten interrelated elements that are most directly related to

ten interrelated elements that are most directly related to measuring the performance and financial status of an

  Dividends on common stock during year 2 totaled 40 thousand

hartzog corporations most recent balance sheet and income statement appear belowstatement of financial position

  The primary area of concern identified by management

Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The company is considering adopting a standard cost system to help control labor and other costs. Useful historical d..

  Problem regarding the accounting cycle

Problem 1: Prepare the appropriate journal entries based on this information for Year 1.

  Estimate the standalone selling prices for product

Green View Corporation (GVC) enters into a contract to sell four products (A, B, C and D) for a total transaction price of $500,000. Each product is properly classified as a separate performance obligation.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd