Suppose the amounts presented here are basic financial information (in millions) from the 2022 annual reports of Nike and Adidas.
Nike |
Adidas |
|||
---|---|---|---|---|
Sales revenue |
$18,572.4 | $10,817.4 | ||
Allowance for doubtful accounts, beginning |
75.0 | 125.0 | ||
Allowance for doubtful accounts, ending |
111.0 | 128.0 | ||
Accounts receivable balance (gross), beginning |
2,843.0 | 1,866.0 | ||
Accounts receivable balance (gross), ending |
2,971.0 | 1,665.0 |
(a1)
Correct answer iconYour answer is correct.
Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)
Nike |
Adidas |
|||||
---|---|---|---|---|---|---|
Accounts receivable turnover |
enter the accounts receivable turnover in times rounded to 1 decimal place | times | enter the accounts receivable turnover in times rounded to 1 decimal place | times |
eTextbook and Media
Assistance Used
Attempts: 2 of 6 used
(a2)
Calculate the average collection period for both companies. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Nike |
Adidas |
|||||
---|---|---|---|---|---|---|
Average collection period |
enter the average collection period in days rounded to 1 decimal place | days | enter the average collection period in days rounded to 1 decimal place | days |
(a1)
Correct answer iconYour answer is correct.
Calculate the accounts receivable turnover for both companies. (Round answers to 1 decimal place, e.g. 12.5.)
Nike |
Adidas |
|||||
---|---|---|---|---|---|---|
Accounts receivable turnover |
18572.40/2814 = 6.6 times | 10817.40/1639 = 6.6 times |
(a2)
Calculate the average collection period for both companies. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.)
Nike |
Adidas |
|||||
---|---|---|---|---|---|---|
Average collection period |
365/6.6 = 55.3 days | 55.3 days |
Get Answers For Free
Most questions answered within 1 hours.