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Mattel and Hasbro are two of the largest and most successful toy makers in the world,In terms of the products they sell and their receivable management practices. To evaluate their ability to collect on credit sales, consider the following information reported in their annual reports( amounts in millions)
Fiscal year ended:2008 2007 2006 5008 2007 2006
Required:1)Calculate the receivable turnover ratios and days to collect for Mattel and Hasbro for 2008 and 2007. ( Round your final answers to one decimal place). In your calculations, use average accounts receivable , net of allowance2) Which of the companies was quicker to convert its receivables into cash in 2008?2007?
A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years. If the truck was bought on July 3, what would be the book value at end of year 1?
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Nichol Industries acquired common stock of Crest View Inc
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