Presented here is basic financial information (in millions) from the 2006 annual reports of Nike and Adidas.
Question:
Presented here is basic financial information (in millions) from the 2006 annual reports of Nike and Adidas.
Instructions
Calculate the receivables turnover ratio and average collection period for both companies. Comment on the difference in their collectionexperiences.
Transcribed Image Text:
Nike Sales Allowance for doubtful accounts, Jan. 1 Allowance for doubful accounts, Dec. 31 Accounts receivable balance (gross), Jan. 1 Accounts receivable balance (gross), Dec. 31 $16,325.9 67.6 71.5 2,450.5 Adidas $10,084 81 112 1,046 1,527
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
Adidass receivables turnover ratio was over 26 higher 85 67 67 than Nikes w...View the full answer
Answered By
MICHAEL KICHE
I was employed studypool for the first time in tutoring. I did well since most of my students and clients got the necessary information and knowledge requested for. I always submitted the answers in time and followed the correct formatting in answering eg MLA or APA format,
Again I worked with the writers bay where I did writing and got many clients whom we worked with so closely. They enjoyed every single service I delivered to them. My answers are always correct.
4.70+
13+ Reviews
53+ Question Solved
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted:
Students also viewed these Accounting questions
-
Presented here is basic financial information from the 2006 annual reports of Intel and Advanced Micro Devices (AMD), the two primary manufacturers of silicon chips for personal computers....
-
Presented here is basic financial information (in millions) from the 2009 annual reports of Nike and Adidas. InstructionsCalculate the receivables turnover ratio and average collection period for...
-
Presented here is basic financial information from the 2009 annual reports of Intel and Advanced Micro Devices (AMD), the two primary manufacturers of silicon chips for personal computers....
-
F udy A big part of communication is sharing personal information with another person. Some information we believe we have the right to be our own and should remain private. However, the degree to...
-
Refer to The Home Depot, Inc., 2012 Annual Report (for the fiscal year ended February 3, 2013) in Appendix A. Locate the Five-Year Summary of Financial and Operating Results. In particular, examine...
-
Use MySQL to create a database of information about used trucks for sale, similar to the cars database used in this chapter. Make up equipment that characterizes trucks. Get the raw data from the ad...
-
A chemical reaction was run 48 times. In each run, different values were chosen for the temperature in degrees Celsius (x1), the concentration of the primary reactant (x2), and the number of hours...
-
Baker, CPA, was engaged to audit Mill Company's financial statements for the year ended September 30, 20X1. After obtaining an understanding of Mill's internal control structure, Baker decided to...
-
You have been hired as a bond analyst at Black Rock Fund, you have the following four coupon paying bond (face Value=$1000). Answer the questions below: Band #1 #2 #3 #4 YTM 9% 7% 8% 10% Coupon Rate...
-
The database Boston Housing.xlsx** contains information on 506 census tracts around the city of Boston. The data include housing-related information (e.g., average rooms per dwelling) as well as...
-
Lorenz Company closes its books on July 31. On June 30 the Notes Receivable account balance is $23,800. Notes Receivable includes the following. During July the following transactions were completed....
-
The following represents selected information taken from a companys aging schedule to estimate uncollectible accounts receivable at year end. Instructions (a) Calculate the total estimated bad debts...
-
What are the characteristics of reliability?
-
A multinational corporation is accused of environmental pollution and human rights violations in a foreign country where it operates. What legal challenges arise in holding the corporation...
-
In a high-profile criminal trial, the defendant alleges that their confession was coerced by law enforcement officers during interrogation. How might the court assess the admissibility of the...
-
Factors which might cause a reduction in management's assigned penalty are called: a. Last chances. b. Second chances. c. Mitigating circumstances. d. Discharge circumstances.
-
how to Evaluate Apple Inc.'s working capital management approach by determine if the company is conservative or aggressive in managing its current assets and liabilities. This analysis may involve...
-
The DD-AA model predicts that a permanent increase in foreign money demand will lead to an improvement in the domestic current account. True/False/Uncertain, explain and support your answer with ONE...
-
On June 15 the premium on a September CAD put option is US$0.017 per CAD at a strike price of US$1.07. If the quarterly U.S. interest rate is 1. 25 percent, what is the price of a September CAD call...
-
Read the following description and Write a response of it. The discretion of public administrators can be decreased, but not altogether eliminated. Officials will use their discretion in any given...
-
Given the matrices evaluate, where possible, (a) a + b, (b)b T + a, (c)b + C T , (d)C + D, (e) DT + C.
-
It is one thing to prepare a personal budget; it is another thing to stick to it. Financial planners have suggested various mechanisms to provide support for enforcing personal budgets. One approach...
-
It is one thing to prepare a personal budget; it is another thing to stick to it. Financial planners have suggested various mechanisms to provide support for enforcing personal budgets. One approach...
-
It is one thing to prepare a personal budget; it is another thing to stick to it. Financial planners have suggested various mechanisms to provide support for enforcing personal budgets. One approach...
-
A company applies overhead at a rate of 160% of direct labor cost. Actual overhead cost for the current period is $1,006,000, and direct labor cost is $590,000. Determine whether there is over- or...
-
2. You are working in the information technology department of a financial institute. You are required to develop a Java Program to assist the customer service department to provide good quality of...
-
3. Consider the following class definition and write an appropriate Java program according to the definition and output the result. public class Children [String name; int friends; public...
Study smarter with the SolutionInn App