Please don't give image format Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.Sales revenueAllowance for doubtful accounts, beginningAllowance for doubtful accounts, endingAccounts receivable balance (gross), beginningAccounts receivable balance (gross), ending(a1)Accounts receivable turnoverNike$19,176.1eTextbook and Media78.4110.82,873,72.994.7NikeAdidas$10,381119124Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)1,7431,553timesAdidastimes Calculate the average collection period for both companies. (Round answers to 1 decimal place, eg. 12.5. Use 365 days forcalculation)Average collection periodNikedaysAdidasdays

Accounts receivable turnover(AR turnover) is a ratio that measures how efficient a company is in…

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

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 8EA: Using the following select financial statement information from Black Water Industries, compute the...

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Suppose the amounts presented here are basic financial information (in millions) from the 2020 annual reports of Surf and Tide. Surf Tide Sales revenue $19,176.1 $10,381 Allowance for doubtful accounts, beginning 78.4 119 Allowance for doubtful accounts, ending 110.8 124 Accounts receivable balance (gross), beginning 2,873.7 1,743 Accounts receivable balance (gross), ending 2,994.7 1,553 Instructions a) Calculate the accounts receivable turnover and average collection period for both companies. My answer for (a) Surf Tide Net Accounts Receivable, beginning (Accounts receivable balance (gross), beginning-Allowance for doubtful accounts, beginning) (2,873.7-78.4) =2,795.3 (1,743-119) =1,624 Net Accounts Receivable, ending (Accounts receivable balance (gross), ending-Allowance for doubtful accounts, ending) (2994.7-110.8) =2,883.9 (1,553-124) =1,429 Average Net Accounts Receivable (Net Accounts Receivable, beginning+Net Accounts Receivable,…
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The following is select financial statement information from Vortex Computing: Year Net Credit Sales Ending Accounts Receivable 2018 $1,557,200 $398,000 2019 $1,755,310 $444,400 2020 $1,865,170 $500,780 Compute the accounts receivable turnover ratios and the number of days’ sales in receivables ratios for 2019 and 2020 (round answers to two decimal places): 2019 Accounts Receivable Turnover = ["", "", "", ""] times. 2019 Days' Sales in Receivables = ["", "", "", ""] days. 2020 Accounts Receivable Turnover = ["", "", "", ""] times. 2020 Days' Sales in Receivables = ["", "", "", ""] days. What do the outcomes tell a potential investor about Vortex Computing, if 2020 industry average for accounts receivable turnover ratio is 4.00 times and days’ sales in receivables ratio is 91.25 days? It takes Vortex Computing ["", "", ""] its competitors in the industry to collect on accounts receivable. If a lender were deciding between companies,…