Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas. Nike adidasSales revenue $22,752.8 $12,264Allowance for doubtful accounts, beginning 79.8 111Allowance for doubtful accounts, ending 115.4 133Accounts receivable balance (gross), beginning 2,884.4 1,757Accounts receivable balance (gross), ending 2,999.0 1,553 Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Nike and adidas.NikeadidasSales revenue$22,752.8$12,264Allowance for doubtful accounts, beginning79.8111Allowance for doubtful accounts, ending115.4133Accounts receivable balance (gross), beginning2,884.41,757Accounts receivable balance (gross), ending2,999.01,553(a1)Your answer is correct.Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, eg. 12.5.)NikeadidasAccounts receivable turnover8timestimeseTextbook and MediaAttempts: 1 of 3 used(a2)Your answer is incorrect.Calculate the average collection period for both companies. (Round answers to 1 decimal place, eg. 12.5. Use 365 days forcalculation.)NikeadidasAverage collection perioddaysdays

Given that, Accounts recievables turnover = (Sales Revenue / Average net accounts recievable)…

Answered: uppose the amounts presented here are…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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h. Assume that accounts receivable at December 31, 2020, totaled $310 million. Calculate the number of days' sales in receivables at that date. (Use 365 days a year. Do not round intermediate calculations. Round your answer to 1 decimal place.) WIPER INC. Condensed Balance Sheets December 31, 2020, 2019, 2018 (in millions) 2020 2019 2018 Current assets $ 650 $ 900 $ 700 Other assets 2,750 2,050 1,750 Total assets $ 3,400 $ 2,950 $ 2,450 Current liabilities $ 500 $ 800 $ 700 Long-term liabilities 1,500 1,000 800 Stockholders' equity 1,400 1,150 950 Total liabilities and stockholders' equity $ 3,400 $ 2,950 $ 2,450 WIPER INC. Selected Income Statement and Other Data For the year Ended December 31, 2020 and 2019 (in millions) 2020 2019 Income statement data: Sales $ 3,300 $ 2,900 Operating income 380 300 Interest expense 80 70 Net income…
4. The following select financial statement information from Hogge Computing. Compute the accounts receivable turnover ratios and the number of days' sales in receivables ratios for 2021 and 2022 (round answers to two decimal places). Year 2020 2021 2022 2021: Net Credit Sales 2022: $1,557,200 $1,755,310 $1,965,170 Accounts Receivable Turnover Ratio: • Days' Sales: days Accounts Receivable Turnover Ratio: Days' Sales: days times times Ending Accounts Receivable $397,000 $465,200 $505,780
Yao Company reports the following in its 2021 annual report: Sales Accounts Receivable 2021 2020 2019 $2,650,000 $2,800,000 $2,500,000 $250,000 $240,000 $200,000 Answer the following question(s) by filling in the blanks. Do not include any symbols besides decimals in your answers (do not input commas). Formulas are provided after the questions. 1. Calculate the accounts receivable turnover for A. 2021. [1A] times B. 2020. [2A] times Accounts Receivable Turnover = Sales Revenue / Average Accounts Receivable [1A] = 11.52 x (/10.8+/) [1B] = 12.17 x (/12.7+/) 2. Calculate the average collection period for A. 2021. [2A] days B. 2020. [2B] days Average Collection Period Average Accounts Receivable / Average Daily Sales = 365/ Accounts Receivable Turnover = Yao Company reports the following in its 2021 annual report: Sales Accounts. Receivable C 2021 2020 2019 $2,650,000 $2,800,000 $2,500,000 $250,000 $240,000 $200,000 Answer the following question(s) by filling in the blanks. Do not include…
n its CASH BASIS income statement for the year ended June 30, 2020, Selena Corp. reported revenue of $142,000 (i.e., total cash receipts from sales). Additional information was as follows: Accounts receivable June 30, 2019 $40,000 Accounts receivable June 30, 2020 $45,600 Under the ACCRUAL basis, Selena Corp. should report sales revenue of A. $147,600 B. $102,000 C. $182,000 D. $136,400
Joseph Co. reported the following financial information for 2020: Accounts receivable, January 1, 2020 P1,200 Accounts Receivable, December 31, 2020 250 Cash collection from customer on account 1,300 Joseph Co.’s service revenue rendered on account to clients amounted to
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Based on the financial statements provided, compute the following financial ratios. Show your workings and round your figures to 2 decimal places. Ratio 2020 2019 Current Ratio Quick Ratio Debt Ratio (%)
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	Nike	adidas
Sales revenue	$22,752.8	$12,264
Allowance for doubtful accounts, beginning	79.8	111
Allowance for doubtful accounts, ending	115.4	133
Accounts receivable balance (gross), beginning	2,884.4	1,757
Accounts receivable balance (gross), ending	2,999.0	1,553