Expand Your Critical Thinking 8-04 a-b Suppose the information below is from the 2022 financial statements...
|
 |
|
|
|
Homework Answers
|
Accounts Receivable Turnover = Sales revenue/Net accounts receivable = 2,981.8/254.05 = 11.7 times |
|
|
Average collection period = 365/Accounts Receivable Turnover = 365/11.7 = 31.2 days |
Note :-
I have rounded some numbers. Instead of 'Downvoting', comment if you face any issues
Add Answer to:
Expand Your Critical Thinking 8-04 a-b
Suppose the information below is from the 2022 financial statements...
Suppose the information below is from the 2022 financial statements and accompanying notes of The Scotts Company, a major manufacturer of lawn-care products.
Suppose the information below is from the 2022 financial statements and accompanying notes of The Scotts Company, a major manufacturer of lawn-care products.(in millions)20222021Accounts receivable$270.4$259.7Allowance for uncollectible accounts10.611.4Sales revenue2,981.82,871.8Total current assets1,044.9999.3Calculate the accounts receivable turnover and average collection period for 2022 for the company. (Round answers to 1 decimal places, e.g. 15.2. Use 365 days for calculation.)Accounts receivable turnoverenter the accounts receivable turnover rounded to 1 decimal placetimesAverage collection periodenter the average collection period rounded to 1 decimal placedaysThank you in advance!
Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports...
Suppose the amounts presented here are basic financial
information (in millions) from the 2022 annual reports of
Nike and Adidas.
Nike
Adidas
Sales revenue
$18,891.7
$9,491.6
Allowance for doubtful accounts, beginning
82.0
121.0
Allowance for doubtful accounts, ending
100.0
123.0
Accounts receivable balance (gross), beginning
3,127.0
1,778.0
Accounts receivable balance (gross), ending
3,249.0
1,578.0
Calculate the accounts receivable turnover for both companies.
(Round answers to 1 decimal place, e.g.
12.5.)
Nike
Adidas
Accounts receivable turnover
enter the accounts receivable turnover...
Suppose the 2022 financial statements of 3M Company report net sales of $22.2 billion. Accounts receivable...
Suppose the 2022 financial statements of 3M
Company report net sales of $22.2 billion. Accounts
receivable (net) are $2.9 billion at the beginning of the year and
$3.02 billion at the end of the year.
Compute 3M’s accounts receivable turnover. (Round
answer to 1 decimal place, e.g. 12.5.)
Accounts receivable turnover ratio
enter the accounts receivable turnover ratio in times rounded
to 1 decimal place
Compute 3M’s average collection period for accounts receivable
in days. (Round answer to 1 decimal...
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable...
Suppose the 2022 financial statements of 3M Company report net sales of $22.0 billion. Accounts receivable (net) are $2.7 billion at the beginning of the year and $2.80 billion at the end of the year. Compute 3M’s accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.5.) Accounts receivable turnover ratio enter the accounts receivable turnover ratio in times rounded to 1 decimal place times eTextbook and Media List of Accounts Compute 3M’s average collection period for...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $3,800 $ 4,520 3,450 4,350 Accounts receivable (net) Allowance for doubtful accounts 350 170 Sales revenue 36,660 39,160 7,178 7,284 Total current assets Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts 2022 2021 $3,750 $4,610 3.400 4,350 350 260 31,775 34,275 7,168 7,318 Sales revenue Total current assets Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $3,620 $4,540 Accounts receivable (net) 3,400 4,400 Allowance for doubtful accounts 220 140 Sales revenue 36,270 38,770 Total current assets 7,210 7,308 Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) loross) $3,800 $4,500 Accounts receivable (net) 3,380 4,350 Allowance for doubtful accounts Sales revenue 420 30,920 7,110 150 33,420 7,240 Total current assets Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365...
Exercise 8-14 (Part Level Submission) Suppose the following information was taken from the 2017 financial statements...
Exercise 8-14 (Part Level Submission)
Suppose the following information was taken from the 2017 financial
statements of FedEx Corporation, a major global
transportation/delivery company.
(in millions)
2017
2016
Accounts receivable (gross)
$ 3,852
$ 4,692
Accounts receivable (net)
3,425
4,599
Allowance for doubtful accounts
427
93
Sales revenue
33,684
36,359
Total current assets
7,758
7,628
Answer each of the following questions.
(a)
Your answer is incorrect. Try again.
Calculate the accounts receivable turnover and the average
collection period for 2017...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company (in millions) 2022 2021 Accounts receivable (gross) $3.587 $4,517 3,391 4.359 Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 196 35,497 7.116 158 37,953 7,244 Answer each of the following questions, Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal plac, calculation) 12.5. Use 365 days for...
Suppose the amounts presented here are basic financial
information (in millions) from the 2022 annual reports of
Nike and Adidas.
Nike
Adidas
Sales revenue
$18,891.7
$9,491.6
Allowance for doubtful accounts, beginning
82.0
121.0
Allowance for doubtful accounts, ending
100.0
123.0
Accounts receivable balance (gross), beginning
3,127.0
1,778.0
Accounts receivable balance (gross), ending
3,249.0
1,578.0
Calculate the accounts receivable turnover for both companies.
(Round answers to 1 decimal place, e.g.
12.5.)
Nike
Adidas
Accounts receivable turnover
enter the accounts receivable turnover...
Suppose the 2022 financial statements of 3M
Company report net sales of $22.2 billion. Accounts
receivable (net) are $2.9 billion at the beginning of the year and
$3.02 billion at the end of the year.
Compute 3M’s accounts receivable turnover. (Round
answer to 1 decimal place, e.g. 12.5.)
Accounts receivable turnover ratio
enter the accounts receivable turnover ratio in times rounded
to 1 decimal place
Compute 3M’s average collection period for accounts receivable
in days. (Round answer to 1 decimal...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $3,800 $ 4,520 3,450 4,350 Accounts receivable (net) Allowance for doubtful accounts 350 170 Sales revenue 36,660 39,160 7,178 7,284 Total current assets Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) Accounts receivable (gross) Accounts receivable (net) Allowance for doubtful accounts 2022 2021 $3,750 $4,610 3.400 4,350 350 260 31,775 34,275 7,168 7,318 Sales revenue Total current assets Answer each of the following questions. Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $3,620 $4,540 Accounts receivable (net) 3,400 4,400 Allowance for doubtful accounts 220 140 Sales revenue 36,270 38,770 Total current assets 7,210 7,308 Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company. (in millions) 2022 2021 Accounts receivable (gross) loross) $3,800 $4,500 Accounts receivable (net) 3,380 4,350 Allowance for doubtful accounts Sales revenue 420 30,920 7,110 150 33,420 7,240 Total current assets Answer each of the following questions. (a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365...
Exercise 8-14 (Part Level Submission)
Suppose the following information was taken from the 2017 financial
statements of FedEx Corporation, a major global
transportation/delivery company.
(in millions)
2017
2016
Accounts receivable (gross)
$ 3,852
$ 4,692
Accounts receivable (net)
3,425
4,599
Allowance for doubtful accounts
427
93
Sales revenue
33,684
36,359
Total current assets
7,758
7,628
Answer each of the following questions.
(a)
Your answer is incorrect. Try again.
Calculate the accounts receivable turnover and the average
collection period for 2017...
Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportation/delivery company (in millions) 2022 2021 Accounts receivable (gross) $3.587 $4,517 3,391 4.359 Accounts receivable (net) Allowance for doubtful accounts Sales revenue Total current assets 196 35,497 7.116 158 37,953 7,244 Answer each of the following questions, Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal plac, calculation) 12.5. Use 365 days for...
Most questions answered within 3 hours.
-
(Expected rate of return and risk) Carter Inc. is evaluating a
security. Calculate the investment’s expected...
asked 11 minutes ago -
What specific indicators can point to lack of progress for
African Americans in American society?
asked 1 hour ago -
1-The Electrons in a beam are moving at 2.7×108 m/s in an
electric field of 15000...
asked 1 hour ago -
A gas tank is a vertical cylinder. It has a radius of 1m, a
height of...
asked 1 hour ago -
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 2 hours ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 2 hours ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 3 hours ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 4 hours ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 4 hours ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 5 hours ago -
Oscar Inc. has inventory in Japan valued at 39,051,000 Yen one
year ago. One year ago...
asked 5 hours ago -
If Canada suffered from "fundamental disequilibrium," and its
government choose not to devalue its currency, a...
asked 5 hours ago