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
RUDIKE [14]
3 years ago
5

Return to questionItem 6Item 6 E8-16 Analyzing and Interpreting Receivables Turnover Ratio and Days to Collect [LO 8-4] FedEx Co

rporation reported the following rounded amounts (in millions): 2016 2015 Accounts Receivable $ 7,430 $ 5,905 Allowance for Doubtful Accounts (180 ) (185 ) Accounts Receivable, Net of Allowance $ 7,250 $ 5,720 Net Sales (assume all on credit) $ 50,370 $ 47,450 Required: Determine the receivables turnover ratio and days to collect for 2016. (Use 365 days in a year. Do not round intermediate calculations. Round your final answers to 1 decimal place.)
Business
1 answer:
madreJ [45]3 years ago
4 0

<u>Solution and Explanation:</u>

The following formulas will be used in order to calculate the accounts receivable turnover ratio and in order to find out the number of days collect.

Accounts receivable turnover ratio = Net sales divided by Average net Accounts receivable

=\$ 50,370 /[(\$ 7,250+\$ 5,720) / 2]

=\$ 50,370 / \$ 6,485

= 7.77 times

<u>Days to collect</u> = 365 divided by Accounts receivable turnover ratio

= $365  divided by 7.77

= 47 days

<u>Note</u>: The number of days that has been assumed is 365 days

You might be interested in
The marine corps, while also steeped in tradition and focused on the individual marine, prides itself on its quick responsivenes
Murljashka [212]

The Marine Corps refer to the United States Marines Corps, a branch of the U.S. Army who is responsible for conducting expedition and amphibious operations with multiple branches of the military, which includes the Navy, Army, and the Air Force.

The answer to the question is size and capacity vs. speed and flexibility.

7 0
3 years ago
Read 2 more answers
Floor drains are rapidly becoming extinct in the United States because they: A) Cause slips and trips B) Are too expensive to in
uranmaximum [27]

I believe the answer is D

7 0
4 years ago
The Board of Directors has voted to add a new product line. Casey's department will be directly responsible for implementing the
liubo4ka [24]

No, because the decision has already been made by the Board of Directors.

More about directors and decision making:

The board's decision-making process is divided into two stages: communication and decision-making. Each director decides whether to incur a cost to communicate his information to others during the communication stage. At the decision-making stage, all directors take actions (e.g., vote) based on their private information and information inferred from the discussion, and the board makes a collective decision. Directors may have conflicts of interest and thus prefer a decision that is not in the best interests of the shareholders. Directors may also have a preference for conformity and thus incur a loss if their actions differ from those of other directors, such as voting differently than the majority.

Learn more about decision making here:

brainly.com/question/16407152

#SPJ4

6 0
2 years ago
What are the four requirement of valid contract
timurjin [86]

Four requirements for a valid contract are an offer, acceptance by the other party of the offer, a mutual agreement or meeting of the minds of the contracting parties and a valid consideration.

3 0
4 years ago
Scenario 1: Richman Investments provides high-end smartphones to 250 of their 3000 employees. The value of each smartphone is $1
atroni [7]

Answer:

will be 500

Explanation:

7 0
3 years ago
Other questions:
  • Cesar claims he found a definite way to save money, "Buy direct from the manufacturer. Any time intermediaries get involved, you
    7·1 answer
  • Honeywag common stock is expected to pay $1.85 in dividends next year, and the market price is projected to be $42.50 per share
    9·1 answer
  • A classic statement regarding project termination and closeout is, "The termination of a project is:
    9·2 answers
  • The law of comparative advantage explains why a nation will benefit from trade when
    6·1 answer
  • On July 7, you purchased 500 shares of Wagoneer, Inc. stock for $21 a share. On August 1, you sold 200 shares of this stock for
    12·1 answer
  • etween 2017 and​ 2018, a small​ businessperson's income increased from​ $200,000 to​ $220,000. The annual state income taxes tha
    9·1 answer
  • A test-validation strategy performed by demonstrating that the items, questions, or problems posed by a test are a representativ
    8·1 answer
  • SnowParadise operates a Rocky Mountain ski resort. The company is planning its lift ticket pricing for the coming ski season. In
    11·1 answer
  • In your own opinion, what are the things or action that can acquire and keep up business apparatuses required to help work envir
    9·1 answer
  • Student loan forgiveness is available to students who perform public
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!