The asset side of the 2017 balance sheet for the Corporation is below. The company reported total revenues of $37,728 million in 2017 and $37,047 million in 2016. in millionsMay 31, 2017May 31, 2016Current assets: Cash and cash equivalents$ 21,784$ 20,152Marketable securities44,29435,973Trade receivables, net of allowances for doubtful accounts of $319 and $327 as of May 31, 2017 and May 31, 2016, respectively5,3005,385Inventories300212Prepaid expenses and other current assets2,8372,591Total current assets74,51564,313Non-current assets: Property, plant and equipment, net5,3154,000Intangible assets, net7,6794,943Goodwill, net43,04534,590Deferred tax assets1,1431,291Other assets3,2943,043Total non-current assets60,47647,867Total assets$134,991$112,180 How do I figure what the company’s gross amount of receivables at the end of 2017 and 2016?How do I compute the common size amount for gross accounts receivable, for both years.?How do I compute the allowance for doubtful accounts to gross accounts receivable, for both years?

Gross amount of receivables = Net Trade receivables + Allowances for doubtful accounts Common size %…

Answered: The asset side of the 2017 balance…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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The asset side of the 2017 balance sheet for the Corporation is below. The company reported total revenues of $37,728 million in 2017 and $37,047 million in 2016.


in millions	May 31, 2017	May 31, 2016
Current assets:
Cash and cash equivalents	$ 21,784	$ 20,152
Marketable securities	44,294	35,973
Trade receivables, net of allowances for doubtful accounts of $319 and $327 as of May 31, 2017 and May 31, 2016, respectively	5,300	5,385
Inventories	300	212
Prepaid expenses and other current assets	2,837	2,591
Total current assets	74,515	64,313
Non-current assets:
Property, plant and equipment, net	5,315	4,000
Intangible assets, net	7,679	4,943
Goodwill, net	43,045	34,590
Deferred tax assets	1,143	1,291
Other assets	3,294	3,043
Total non-current assets	60,476	47,867
Total assets	$134,991	$112,180

How do I figure what the company’s gross amount of receivables at the end of 2017 and 2016?
How do I compute the common size amount for gross accounts receivable, for both years.?
How do I compute the allowance for doubtful accounts to gross accounts receivable, for both years?

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