{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-09-12T01:14:01-04:00", "answer_date": "2024-09-12 01:14:01", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "10346178", "url": "\/study-help\/questions\/mha-companies-develops-produces-and-markets-a-wide-range-of-10346178", "question_creation_date_js": "2024-09-12T01:14:01-04:00", "question_creation_date": "Sep 12, 2024 01:14 AM", "meta_title": "[Solved] MHA Companies develops, produces, and mar | SolutionInn", "meta_description": "Answer of - MHA Companies develops, produces, and markets a wide range of computer software including the Windows operating system | SolutionInn", "meta_keywords": "mha,companies,develops,produces,markets,wide,range,computer,software,windows,operating,system", "question_title_h1": "MHA Companies develops, produces, and markets a wide range of computer software including the Windows operating system. MHA reported the following information about Net Sales", "question_title": "MHA Companies develops, produces, and markets a wide range of computer software", "question_title_for_js_snippet": "MHA Companies develops, produces, and markets a wide range of computer software including the Windows operating system MHA reported the following information about Net Sales Revenue and Accounts Receivable (all amounts in millions) June 30, 2019 June 30, 2018 Accounts Receivable, Net of Allowance for Doubtful Accounts of $340 and $390 $ 17,250 $ 16,000 Net Revenues 74,000 65,000 According to its Form 10 K, MHA recorded Bad Debt Expense of $25 and did not recover any previously written off accounts during the year ended June 30, 2019 Required 1 2 What amount of accounts receivable was written off during the year ended June 30, 2019 What was MHA receivables turnover ratio in 2019 3 Does your answer in requirement 2 suggest the collectibility of Accounts Receivable improved (or deteriorated) in 2019, relative to 2018 when the turnover was 4 7 What amount of accounts receivable was written off during the year ended June 30, 2019 What was MHA receivables turnover ratio in 2019 (Enter your answer in millions Round your answer to 1 decimal place ) 1 Accounts Receivable Written Off million 2 Receivables Turnover Ratio times", "question_description": "

MHA Companies develops, produces, and markets a wide range of computer software including the Windows operating system. MHA reported the following information about Net Sales Revenue and Accounts Receivable (all amounts in millions).<\/p>

<\/p>
<\/th> June 30, 2019<\/th> June 30, 2018<\/th> <\/tr> <\/thead>
Accounts Receivable, Net of Allowance for Doubtful Accounts of $340 and $390<\/th> $ 17,250<\/td> $ 16,000<\/td> <\/tr>
Net Revenues<\/th> 74,000<\/td> 65,000<\/td> <\/tr> <\/tbody> <\/table>

<\/p>

According to its Form 10-K, MHA recorded Bad Debt Expense of $25 and did not recover any previously written-off accounts during the year ended June 30, 2019.<\/p>

Required:<\/strong><\/p>

1&2.<\/strong> What amount of accounts receivable was written off during the year ended June 30, 2019? What was MHA receivables turnover ratio in 2019?<\/p>

3.<\/strong> Does your answer in requirement 2 suggest the collectibility of Accounts Receivable improved (or deteriorated) in 2019, relative to 2018 when the turnover was 4.7?<\/p>

What amount of accounts receivable was written off during the year ended June 30, 2019? What was MHA receivables turnover ratio in 2019? <\/strong>(Enter your answer in millions. Round your answer to 1 decimal place.)<\/p>
<\/td> <\/tr>
<\/td>
1. Accounts Receivable Written-Off <\/td> <\/td> million<\/td> <\/tr>
2. Receivables Turnover Ratio<\/td> <\/td> times<\/td> <\/tr> <\/tbody> <\/table> <\/td> <\/tr> <\/tbody> <\/table>", "transcribed_text": "", "related_book": { "title": null, "isbn": null, "edition": null, "authors": null, "cover_image": null, "uri": null, "see_more_uri": "" }, "free_related_book": { "isbn": "", "uri": "", "name": "", "edition": "" }, "question_posted": "2024-09-12 01:14:01", "see_more_questions_link": "\/study-help\/questions\/business-banking-2021-September-12", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/business-communication\/3-omission-have-i-omitted-any-key-details-that-may-1997895", "description": "3. Omission. Have I omitted any key details that may affect the way the customer views the advertised product? Is significant information unstated? Would it change the customer's perception of the...", "stars": 0 }, { "url": "\/study-help\/introduction-to-business-statistics\/a-colleague-went-to-the-legocom-website-in-february-2014", "description": "A colleague went to the lego.com website in February 2014 and recorded the number of pieces and the sales price for 157 Lego products listed there. The data appear in the Legos data file. a. Which...", "stars": 3 }, { "url": "\/study-help\/questions\/mha-companies-develops-produces-and-markets-a-wide-range-of-10346178", "description": "MHA Companies develops, produces, and markets a wide range of computer software including the Windows operating system. MHA reported the following information about Net Sales Revenue and Accounts...", "stars": 3 }, { "url": "\/study-help\/questions\/carnes-cosmetics-cos-stock-price-is-49-and-it-recently-1771720", "description": "Carnes Cosmetics Co.'s stock price is $49, and it recently paid a $2.50 dividend. This dividend is expected to grow by 18% for the next 3 years, then grow forever at a constant rate, g; and rs = 15%....", "stars": 3 }, { "url": "\/study-help\/questions\/in-late-2018-mike-was-approached-by-a-representative-of-3590305", "description": "In late 2018, Mike was approached by a representative of a company called Cycle Tech Inc. (CTI) and asked if he would be interested in incorporating its proprietary technology, CycleScape, into PHL's...", "stars": 3 }, { "url": "\/study-help\/questions\/napsters-revolution-eighteen-year-old-shawn-napster-fanning-then-2989343", "description": "NAPSTER'S REVOLUTION Eighteen - year old Shawn \"NAPSTER\" Fanning, then a freshman at Northeastern University, dropped out of school and founded Napster Inc. (website was at w.w.w.napster.com) in San...", "stars": 3 }, { "url": "\/study-help\/questions\/the-following-statements-were-printed-in-journal-articles-in-the-1137638", "description": "The following statements were printed in journal articles in the field of psychology. Explain to a person who is unfamiliar with the concept of confidence intervals what each statement means. \"The...", "stars": 3 }, { "url": "\/study-help\/questions\/ntent7227252fullscreen54164648view-ignment-a-major-automotive-manufacturer-has-announced-that-it-6626054", "description": "ntent\/7227252\/fullscreen\/54164648\/View ignment A major automotive manufacturer has announced that it will close a manufacturing plant in Ohio. The manufacturer has seen declines in automobile sales...", "stars": 3 }, { "url": "\/study-help\/questions\/imagine-it-is-currently-the-first-day-of-2019-the-5175347", "description": "Imagine it is currently the first day of 2019. The corporate tax rate is 40% and the WACC is estimated to be 13% pa. Suppose also that there is no surplus cash in any year and that Terminal Value...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/these-two-pictures-are-from-the-same-problem-required-information-10346177", "next": "\/study-help\/questions\/with-increase-in-steam-pressure-its-specific-volume-decreases-rapidly-10346179" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": "MHA Companies develops, produces, and markets a wide range of computer software", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/mha-companies-develops-produces-and-markets-a-wide-range-of-10346178" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } }1" } }