Selected recent balance sheet and income statement information for the communication giants, Horizon Communications, Inc., and New Phone Inc., follow:

a. Compute accounts receivable turnover for Horizon Communications, Inc. and New Phone, Inc. .
b. Interpret and comment on the differences between the receivables turnover rates between each company assuming the industry average is 9.0 times.

Question

Selected recent balance sheet and income statement information for the communication giants, Horizon Communications, Inc., and New Phone Inc., follow:
  
a. Compute accounts receivable turnover for Horizon Communications, Inc. and New Phone, Inc. .
b. Interpret and comment on the differences between the receivables turnover rates between each company assuming the industry average is 9.0 times.

Quizplus · Accepted Answer

The Answer of Selected recent balance sheet and income statement information for the communication giants, Horizon Communications, Inc., and New Phone Inc., follow:
  
a. Compute accounts receivable turnover for Horizon Communications, Inc. and New Phone, Inc. .
b. Interpret and comment on the differences between the receivables turnover rates between each company assuming the industry average is 9.0 times.

Selected Recent Balance Sheet and Income Statement Information for the Communication