1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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 />

<em />

You might be interested in
For most normal goods the income effect and the substitution effect work in the same direction; so when the price of a good fall
bezimeni [28]

Answer:

The income effect and substitution effect work in opposite directions and income effect is dominant.

Explanation:

In case of a normal good, both the income effect as well as substitution effect work in the same direction. A fall in the price of a product will increase the purchasing power of the consumer so its quantity demanded will increase.  

The consumers will also prefer the cheaper good so the substitution effect will cause the quantity demanded to increase.  

In case of an inferior good, however, income elasticity is negative. The income effect and substitution effect work in opposite directions.  

A price decrease in the case of an inferior good will increase the real income and purchasing power of the consumer. This will cause the quantity demanded of the inferior good to decline as the consumer will prefer a substitute normal good.

8 0
2 years ago
Roberta is a customer service representative at a car rental company. Read the passage. Which actions might lead to increased cu
pochemuha

Answer:

Training

Explanation:

Learning within a workgroup is the only way to improve performance. An outstanding representative as Roberta needs to transfer her skills to the rest of the team. One strategy to accomplish that is naming her as responsible for on-board training for the new teamates.

Another strategy is to use surveys after the calls to know what are the opinions of clients regarding services. It allows to identify improvement opportunities.

3 0
3 years ago
Geoff purchased a life annuity for $4,800 that will provide him $100 monthly payments for as long as he lives. Based on IRS tabl
Brilliant_brown [7]

Answer:

B. $80

Explanation:

The annuity exclusion ratio is ($4,800/($100*240))= 20% return of capital per payment. Hence, $80 of the $100 monthly payment is include in gross income

8 0
3 years ago
Payments from customers received before performing services for the customers are recorded as
Pachacha [2.7K]

Answer:

B) liabilities.

Explanation:

When the payment is received from the customer before performing the services is known as unearned service revenue

The journal entry is

Cash A/c Dr XXXXX

          To Unearned Service revenue A/c XXXXX

(Being advance payment is received)

We simply debited the cash account as cash is received and credited the respective account i.e unearned service revenue

7 0
3 years ago
Kevin wants to buy a house that costs $350,000. Kevin will need to go to a bank and obtain a mortgage in order to purchase the h
Anestetic [448]

_________________________________

<h3>a) = 25% × $350,000 ÷ 100</h3><h3> = <u>$87,500</u></h3><h3 /><h3 /><h3>b) = $350,000 - $87,500</h3><h3> = <u>$262,500</u></h3>

_________________________________

3 0
3 years ago
Other questions:
  • You want a seat on the board of directors of Four Keys, Inc. The company has 240,000 shares of stock outstanding and the stock s
    12·1 answer
  • Elena wants to open a Chinese restaurant near a university. She has the required capital to start her restaurant. However, she i
    5·2 answers
  • As a manager at carrel corp., derek spends much of his time coaching young managers and making sure that any required informatio
    8·1 answer
  • What is a subsidy wedge? the combined reduction in consumer surplus and producer surplus that results from a subsidy the amount
    14·1 answer
  • Your Economics instructor assigns your class to investigate factors associated with the gross domestic product (GDP) of nations.
    5·1 answer
  • Land costing $71,000 was sold for $50,000 cash. The loss on the sale was reported on the income statement as other expense. On t
    12·1 answer
  • LO 1.3 Jason and Mary are married taxpayers in 2018. They are both under age 65 and in good health. For 2018 they have a total o
    12·1 answer
  • Elaborate on the meaning of lobbying and networking​
    7·1 answer
  • How much money did daniel radcliffe make from harry potter
    15·2 answers
  • Labor costs charged to manufacturing overhead represent ______ labor costs.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!