Business, 30.03.2020 21:30 mfweldon64

Problems 5-5 Interpreting accounts receivable turnover (LO5-7) Packaging Corporation of America produces containerboard and white papers. KapStone Paper and Packaging Corporation manufactures unbleached kraft paper products and corrugated products. Financial statement data for these two companies follow: Packaging Corporation of America ($ in millions of dollars) 2011 2012 2013 2014 Sales $ 2,843.9 $ 3,665.3 $ 5,852.6 Accounts receivable at December 31 $ 320.0 352.1 643.1 646.1 KapStone Paper and Packaging Corporation ($ in millions of dollars) 2011 2012 2013 2014 Sales $ 1,216.6 $ 1,748.2 $ 2,300.9 Accounts receivable at December 31 $ 108.3 111.6 232.3 228.7 Required: Determine the receivables turnover ratios for both companies for 2012, 2013, and 2014. (Use 365 days in a year. Round your answers to 1 decimal place.) Which company collected its accounts receivable more quickly in 2014

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Problems 5-5 Interpreting accounts receivable turnover (LO5-7) Packaging Corporation of America prod...

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