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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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jek_recluse [69]

Answer: $42000

Explanation:

Saginaw's foreign tax credit on its 2018 tax return will be calculated thus:

= Foreign source taxable income × precredit U.S tax/Taxable income

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Therefore, the foreign tax credit will be the least between $60,000 paid to the German government or $42000. In this case, the answer is $42000

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3 years ago
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marin [14]
I think it’s true hope this help
7 0
3 years ago
Read 2 more answers
Absolute vs. Comparative Advantage: An Overview
AleksandrR [38]

Answer:

Comparative advantage differs in that it takes into consideration the opportunity costs involved when choosing to manufacture multiple types of goods with limited resources.

Explanation:

The most tipycal example is the sustancial different between communist and capitalist economist in the 20th century

While the USSR and CHINA focus resources into specific areas like military, space program and other, the rest of the economy halved sustancially while the US and other OTAN members manage to acomplish the same amount of military or lower in some cases(USSR have more missiles and Atomic Boms than US), their economies thrived as their didn't renounce to the production of consumer good to make this.

Another example is the metal en road production While communist China used forced labor and thousand of people they manage to do more road than Europe but Europe used much less worker and thus, lower opportunity cost. and more of other goods could be produced.

5 0
3 years ago
Refer to the accompanying table. if a bank has $60 million in savings deposits and $40 million in checkable deposits, then its r
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92000000

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Discount rate = 27%

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