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Yuri [45]
3 years ago
14

Suppose the following information was taken from the 2022 financial statements of FedEx Corporation, a major global transportati

on/delivery company. (in millions) 2022 2021 Accounts receivable (gross) $ 3,600 $ 4,670 Accounts receivable (net) 3,150 4,350 Allowance for doubtful accounts 450 320 Sales revenue 36,100 38,600 Total current assets 7,200 7,246 Answer each of the following questions.
(a) Calculate the accounts receivable turnover and the average collection period for 2022 for FedEx. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) Accounts receivable turnover enter the accounts receivable turnover in times rounded to 1 decimal place times The average collection period for 2022 enter the average collection period for 2022 in days rounded to 1 decimal place days.
Business
1 answer:
kifflom [539]3 years ago
5 0

Answer:

9.6 times ; 37.9 days

Explanation:

The computation of the accounts receivable turnover and the average collection period is shown below:

Accounts receivable turnover ratio  = Credit sales ÷ average accounts receivable

where,  

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2

= ($4,350 + $3,150) ÷ 2

= $3,750 million

And, the net credit sale is $36,100 million

Now put these values to the above formula  

So, the answer would be equal to  

= $36,100 million ÷  $3,750 million

= 9.6 times

And, the Average collection period in days = Total number of days in a year ÷ accounts receivable turnover ratio

= 365 days ÷ 9.63 times

= 37.9 days

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Answer: a. long-term plans.

Explanation:

Long term plans in a business are considered Strategic Plans. Strategic plans aim to formulate general long term goals and visions for what the company aims to do in future and what level they aim to be at.

These types of goals are usually for the policy makers in a company being the Top Executives who are tasked with the long term growth of the company.

The Top Executives come up with these plans and then the Mid and lower level managers come up with tactical and operational plans to meet the objectives of the plans.

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2 years ago
A running shoe company wants to reach "avid marathon runners" instead of just "sports fans". which targeting method should this
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The correct answer:
Custom affinity audiences

Source, explanation and more answers: https://goo.gl/LkZN6c
3 0
3 years ago
Problem 12-04A The income statement of Kingbird, Inc. is presented here. Kingbird, Inc. Income Statement For the Year Ended Nove
barxatty [35]

Answer:

Cash Flow From Operating Activities

Cash Receipt from Customers                       $7,260,000

Cash Paid to Suppliers and Employees       ($6,294,700)

Cash Provided by Operating Activities            $965,300

Explanation:

Step 1 : Cash Paid to Suppliers and Employees Calculation

Cost of goods sold                                         $4,987,300

Add Operating expenses                                $1,120,500

Total                                                                 $6,107,800

Adjustments :

Depreciation expense                                        $95,300

Decrease in Inventory                                     ($536,700)

Increase in Prepaid Expenses                          $179,800

Decrease in Accounts Payable                        $345,700

Decrease in Accrued Expense Payable          $105,800

Cash Paid to Suppliers and Employees       $6,294,700

Step 2 : Cash Receipt from Customers Calculation

Sales revenue                                                $7,465,900

Less Increase in Accounts receivable          ($205,900)

Cash Receipt from Customers                      $7,260,000

4 0
3 years ago
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Answer:

socialist economy

Explanation:

A planned economy is a system where the government or the central authority makes all major economic decisions. The government decides on the type and quantities of goods to produce and for whom to produce. In the planned economy, factors of production belong to the government. Manufacture of goods and services is motivated by service to the community, not profits.

A socialist economy is a good example of a planned economy. Just like in a planned economy, a socialist economy is characterized by heavy government involvement. The state controls the factors of production. Public service is the reason for economic production, while consumers do not have the liberty to choose products.

6 0
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Answer:

True

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