Presented here is basic financial information (in millions) from the 2009 annual reports of Nike and Adidas.
Question:
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 both companies.Comment on the difference in their collection experiences.
Transcribed Image Text:
Adidas Nike Sales Allowance for doubtful accounts, beginning Allowance for doubtful accounts, ending Accounts receivable balance (gross), beginning Accounts receivable balance (gross), ending $19,176.1 78.4 110.8 2,873.7 2,994.7 $10,381 119 124 1,743 1,553
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Both companies have very similar turnover ratios and average ...View the full answer
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Related Book For
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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