Calculate the average life, average age, and asset turnover ratios for Exxon Mobil. Discuss what each ratio tells you in the context of your chosen company. Calculate the accounts receivable turnover ratio and convert that ratio into days. Discuss what each ratio tells you in the context of your chosen company.AssetsFiscal year is January-December. All values USD millions.20182019 Cash & Short Term Investments3.04B3.09B Cash Only3.04B3.09B Short-Term Investments-- Total Accounts Receivable24.7B26.97B Accounts Receivables, Net19.64B21.1B Accounts Receivables, Gross20.04B21.51B Bad Debt/Doubtful Accounts(400M)(405M) Other Receivables5.06B5.87B Inventories18.96B18.53B Finished Goods14.8B14.01B Work in Progress-- Raw Materials4.16B4.52B Progress Payments & Other-- Other Current Assets1.27B1.47B Miscellaneous Current Assets1.27B1.47B Total Current Assets47.97B50.05B

Average life or age of an inventory means the time taken by inventory in the store before it sales…

Answered: Calculate the average life, average…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...

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Calculate the average life, average age, and asset turnover ratios for Exxon Mobil. Discuss what each ratio tells you in the context of your chosen company. Calculate the accounts receivable turnover ratio and convert that ratio into days. Discuss what each ratio tells you in the context of your chosen company.

Assets

Fiscal year is January-December. All values USD millions.	2018	2019
Cash & Short Term Investments	3.04B	3.09B
Cash Only	3.04B	3.09B
Short-Term Investments	-	-
Total Accounts Receivable	24.7B	26.97B
Accounts Receivables, Net	19.64B	21.1B
Accounts Receivables, Gross	20.04B	21.51B
Bad Debt/Doubtful Accounts	(400M)	(405M)
Other Receivables	5.06B	5.87B
Inventories	18.96B	18.53B
Finished Goods	14.8B	14.01B
Work in Progress	-	-
Raw Materials	4.16B	4.52B
Progress Payments & Other	-	-
Other Current Assets	1.27B	1.47B
Miscellaneous Current Assets	1.27B	1.47B
Total Current Assets	47.97B	50.05B