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) | 2022 | 2021 | ||||
|---|---|---|---|---|---|---|
Accounts receivable | $270.4 | $259.7 | ||||
Allowance for uncollectible accounts | 10.6 | 11.4 | ||||
Sales revenue | 2,981.8 | 2,871.8 | ||||
Total current assets | 1,044.9 | 999.3 |
Calculate 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 turnover | times | ||
| Average collection period | days |
Thank you in advance!
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Suppose the information below is from the 2022 financial statements and accompanying notes of The Scotts Company, a major manufacturer of lawn-care products.
Expand Your Critical Thinking 8-04 a-b Suppose the information below is from the 2022 financial statements...
Expand Your Critical Thinking 8-04 a-b
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)
2022
2021
Accounts receivable
$270.4
$259.7
Allowance for uncollectible accounts
10.6
11.4
Sales revenue
2,981.8
2,871.8
Total current assets
1,044.9
999.3
Answer each of the following questions.
Calculate the accounts receivable turnover and average
collection period for 2022 for the company. (Round
answers to 1 decimal places, e.g. 15.2....
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...
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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.
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Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major...
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Suppose the 2022 financial statements of 3M Company report net sales of $22.8 billion. Accounts receivable...
Suppose the 2022 financial statements of 3M Company report net sales of $22.8 billion. Accounts receivable (net) are $2.9 billion at the beginning of the year and $3.10 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 times e Textbook and Media List of Accounts Compute 3M's average collection period for accounts receivable in days. (Round answer to 1 decimal place, eg. 12.5. Use 365...
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 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 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...
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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...
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