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Olegator [25]
3 years ago
9

Suppose the amounts presented here are basic financial information (in millions) from the 2019 annual reports of Nike and Adidas

. Nike Adidas Sales revenue $19,887.0 $10,584.0 Allowance for doubtful accounts, beginning 80 120 Allowance for doubtful accounts, ending 110 126 Accounts receivable balance (gross), beginning 2,924 1,736 Accounts receivable balance (gross), ending 2,948 1,534 Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.) Nike Adidas Accounts receivable turnover times times
Business
1 answer:
xeze [42]3 years ago
8 0

Answer:

Both Companies have an Account Receivable turnover of 7.00 (seven)

Explanation:

(for future question it would be better if you upload an image with the table this is quite confusing)

\left[\begin{array}{ccc}-&Nike&Adidas\\sales&19887&10584\\B AR&2924&1736\\B all&80&120\\Net AR&2844&1616\\E AR&2948&1534\\E all&110&126\\Net AR&2838&1408\\\end{array}\right]

Account Receivable TurnOver Formula

\frac{net \: credit \: sales}{average \: account \: receivable} = AR \: TurnOver

<u>Where:</u>

average \: AR = (beginning \: AR + ending \: AR) \div 2

  • <em>Nike:</em>

<em>(2844+2838)/2 = 2841 Average Inventory</em>

\frac{19887}{2841} = 7.00 \: AR \: turnOver

  • Adidas

(1616+1408)/2 = <em>1512 Average Inventory</em>

\frac{10584}{1512} = 7.00 \: AR \: turnOver

<em />

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