Question
nterpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2012 10-K report. October 31 (in millions) 2012 2011 Accounts receivable, net
nterpreting the Accounts receivable Footnote Hewlett-Packard Company (HPQ) reports the following in its 2012 10-K report.
October 31 (in millions) | 2012 | 2011 |
---|---|---|
Accounts receivable, net | $16,407 | $18,224 |
HPQ footnotes to its 10-K provide the following additional information relating to its allowance for doubtful accounts.
For the fiscal years ended October 31 (in millions) | 2012 | 2011 | 2010 |
---|---|---|---|
Allowance for doubtful accounts-accounts receivable | |||
Balance, beginning of period | $ 470 | $ 525 | $ 629 |
Increase in allowance from acquisition | -- | 27 | 7 |
Addition of bad debts provision | 100 | 23 | 80 |
Deductions, net of recoveries | (106) | (105) | (191) |
Balance, end of period | $ 464 | $ 470 | $ 525 |
(a) What is the gross amount of accounts receivables for HPQ in fiscal 2012 and 2011?
($ millions) | 2012 | 2011 |
---|---|---|
Gross accounts receivable | ______ | ______ |
(b)What is the percentage of the allowance for doubtful accounts to gross accounts receivable for 2012 and 2011? (Round your answers to two decimal places.)
($ millions) | 2012 | 2011 |
---|---|---|
Percentage of uncollectible accounts to gross accounts receivable | ______% | ______% |
(c)What amount of bad debts expense did HPQ report each year 2010 through 2012 (ignore increase in allowance from acquisitions)? What amount was actually written off?
($ millions) | 2012 | 2011 | 2010 |
---|---|---|---|
Bad debt expense | $______ | $______ | $_______ |
Amounts actually written off | $______ | $______ | $_______ |
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