Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Quiz for Chapter 6 The following information was taken from Twitter 10-K form (Annual report) filled with Securities and Exchange Commission (SEC) TWITTER, INC. CONSOLIDATED

image text in transcribed
image text in transcribed
Quiz for Chapter 6 The following information was taken from Twitter 10-K form (Annual report) filled with Securities and Exchange Commission (SEC) TWITTER, INC. CONSOLIDATED BALANCE SHEETS (in thousands) ASSETS 31-Dec-18 31-Dec-19 Current assets: Cash and cash equivalents 1,894,444 Short-term investments 4,314,957 Accounts receivable, net of allowance for doubtful accounts of $3,559 and $2,401 as of 31-Dec-18 and 31-Dec-19 respectively 788.700 Prepaid expenses and other current assets 112,935 Total current assets 7,111,036 Property and equipment, net 885.078 Intangible assets 45,025 Goodwill 1.227.269 Other assets 85.705 TOTAL ASSETS 9,354,113 The Company records accounts receivable at the invoiced amount. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivable amounts. In evaluating the Company's ability to collect outstanding receivable balances, the Company considers various factors including the age of the balance, the creditworthiness of the customer, which is assessed based on ongoing credit evaluations and payment history, and the customer's current financial condition 1. (1 point) How much money (in thousands) do customers owe Twitter as of Dec-31-2019 for the services performed by Twitter? To put it differently, what is the total value of unpaid invoices as of Dec-31-197 a. 850,184 b. 788,700 c. 7,620.075 d. 852,585 10,098.208

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting

Authors: Anthony A Atkinson, Robert S Kaplan

5th Edition

136005314, 978-0136005315

More Books

Students also viewed these Accounting questions

Question

Define the term equivalent units of production

Answered: 1 week ago