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Calculate the receivables turnover ratios and days to

J. M. Smucker and H.J. Heinz are two well-recognized brands at the dinner table. To evaluate their ability to collect on credit sales, consider the following rounded information in their annual reports (amounts in millions).

Required:

1. Calculate the receivables turnover ratios and days to collect for Smucker and Heinz for the years ended April 30, 2013 and 2012. (Round to one decimal place.)

2. Which of the companies is quicker to convert its receivables into cash?

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Accounting Basics: Calculate the receivables turnover ratios and days to

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