Question

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) December 31, 2019 2018 ASSETS S S Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $524 and $501, respectively Inventories Prepaid expenses and other assets Total Current Assets Equity method investments Other investments Other assets Deferred income tax assets Property, plant and equipment — net Trademarks with indefinite lives Bottlers' franchise rights with indefinite lives Goodwill Other intangible assets Total Assets 6,480 1,467 7,947 3,228 3,971 3,379 1,886 20,411 19,025 854 9,077 2,025 11,102 5,013 3,685 3,071 2,059 24,930 19,412 867 6,075 2,412 10,838 9,266 109 4,148 2,674 9,598 6,682 51 16,764 627 14,109 745 S 86,381 S 83,216

What was the $value of Gross trade receivables for 2019 and 2018?

(4) What was the receivables turnover for 2019?

Answer 1

Gross Receivables

2019 = $4,495 million

2018 = $4,186 million

Receivables Turnover = 9.735

Workings

Gross Receivables = Net Receivables + Allowance for doubtful accounts

2019 = $3971+$524 = $4,495 million

2018 = $3685+$501 = $4,186 million

Receivables Turnover = Net Sales/Average Receivables

= 37266/((3971+3685)/2) = 37266/3828 = 9.735

*sales amount has been taken from the company's annual report

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