Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas. Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending (a1) Nike Adidas $19,176.1 $10,381 Accounts receivable turnover 78.4 110.8 2,873.7 2,994.7 Nike 119 124 1,743 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) 1.553 times Adidas times
Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas. Sales revenue Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending (a1) Nike Adidas $19,176.1 $10,381 Accounts receivable turnover 78.4 110.8 2,873.7 2,994.7 Nike 119 124 1,743 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) 1.553 times Adidas times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.
Sales revenue
Allowance for doubtful accounts, beginning
Allowance for doubtful accounts, ending
Accounts receivable balance (gross), beginning
Accounts receivable balance (gross), ending
(a1)
Accounts receivable turnover
Nike
$19,176.1
eTextbook and Media
78.4
110.8
2,873,7
2.994.7
Nike
Adidas
$10,381
119
124
Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)
1,743
1,553
times
Adidas
times
Transcribed Image Text:Calculate the average collection period for both companies. (Round answers to 1 decimal place, eg. 12.5. Use 365 days for
calculation)
Average collection period
Nike
days
Adidas
days
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