Using Zorb Company's accounts receivable disclosures and the following information, answer the questions below. EE (Click...

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Using Zorb Company's accounts receivable disclosures and the following information, answer the questions below. EE (Click the icon to view the accounts receivable disclosures.) (Click the icon to view the additional information.) Read the requirements. Requirement a. How is the carrying value of accounts receivable determined? The carrying value of the accounts receivable is Requirement b. What factors influence management's judgment in its estimate of the amount of collectible receivables? O A. Management estimates the allowance of doubtful accounts as the amount of probable credit losses in existing accounts receivable as determined from a review of past recoveries and ability to factor with recourse. O B. Management estimates the write-off of accounts receivable as the amount of probable credit losses in existing accounts receivable as determined from a review of past due revenues and expenses. O C. Management estimates the allowance of doubtful accounts as the amount of probable credit losses in existing accounts receivable as determined from a review of past due balances and other specific account data. O D. Management estimates uncollectible accounts in existing accounts receivable as determined from a review of past percentage of assets and percentage of sales. Requirement c. What is the percent of trade receivables to total assets at the end of 2019 and 2018? (Round the percentage to the nearest hundredth percent, X.XX%.) The percent of trade receivables to total assets is % at the end of 2019 and |% at the end of 2018. Requirement d. What is the percent of the allowance for uncollectible accounts to total trade receivables in 2019 and 2018? (Round the percentage to the nearest one thousandth percent, X.XXX%.) The percent of the allowance to trade receivables is % in 2019 and % in 2018. Requirement e. What were Zorb's write-offs of accounts receivable in 2019 and 2018? (Enter amounts in millions as provided to you in the problem statement, X.X.) Zorb's write-offs of accounts receivable were million in 2019 and million in 2018. ... - X Accounts receivable disclosures - X More information NOTE 1: Accounting Policies Accounts Receivable Accounts receivable consists principally of trade receivables, which are recorded at the invoiced amount, net of allowances for doubtful accounts and prompt payment discounts. Trade receivables do not bear interest. The allowance for doubtful accounts represents management's estimate of the amount of probable credit losses in existing accounts receivable, as determined from a review of past due balances and other specific account data. Account balances are written off against the allowance when management determines the receivable is uncollectible. For the years ended 2019 and 2018, the Company did not have off-balance sheet credit exposure (in millions) 2019 2018 se. Net sales 10,000 $ 9,800 Accounts receivable, net 1,381 2,257 Hata related to its customers. Total assets 16,500 15,775 NOTE 18 SUPPLEMENTAL FINANCIAL STATEMENT DATA Consolidated Balance Sheet (millions) 2019 2018 Trade receivables $ 1,200 $ 2,000 Requirements Allowance for doubtful accounts (13) (13) Refundable income taxes 53 64 a. How is the carrying value of accounts receivable determined? 141 206 Other receivables 1,381 $ 2,257 b. What factors influence management's judgment in its estimate of the amount of collectible receivables? $ Accounts receivable, net c. What is the percent of trade receivables to total assets at the end of 2019 and 2018? с. Allowance for doubtful accounts (millions) 2019 2018 2017 d. What is the percent of the allowance for uncollectible accounts to total trade receivables in 2019 and 2018? Balance at beginning of year $ 11 $ 10 $ 5 Additions charged to expense 4 4 6 е. What were Zorb's write-offs of accounts receivable in 2019 and 2018? Doubtful accounts charged to reserve (2) (1) (4) $ 13 $ 13 $ 7 Balance at end of year Using Zorb Company's accounts receivable disclosures and the following information, answer the questions below. EE (Click the icon to view the accounts receivable disclosures.) (Click the icon to view the additional information.) Read the requirements. Requirement a. How is the carrying value of accounts receivable determined? The carrying value of the accounts receivable is Requirement b. What factors influence management's judgment in its estimate of the amount of collectible receivables? O A. Management estimates the allowance of doubtful accounts as the amount of probable credit losses in existing accounts receivable as determined from a review of past recoveries and ability to factor with recourse. O B. Management estimates the write-off of accounts receivable as the amount of probable credit losses in existing accounts receivable as determined from a review of past due revenues and expenses. O C. Management estimates the allowance of doubtful accounts as the amount of probable credit losses in existing accounts receivable as determined from a review of past due balances and other specific account data. O D. Management estimates uncollectible accounts in existing accounts receivable as determined from a review of past percentage of assets and percentage of sales. Requirement c. What is the percent of trade receivables to total assets at the end of 2019 and 2018? (Round the percentage to the nearest hundredth percent, X.XX%.) The percent of trade receivables to total assets is % at the end of 2019 and |% at the end of 2018. Requirement d. What is the percent of the allowance for uncollectible accounts to total trade receivables in 2019 and 2018? (Round the percentage to the nearest one thousandth percent, X.XXX%.) The percent of the allowance to trade receivables is % in 2019 and % in 2018. Requirement e. What were Zorb's write-offs of accounts receivable in 2019 and 2018? (Enter amounts in millions as provided to you in the problem statement, X.X.) Zorb's write-offs of accounts receivable were million in 2019 and million in 2018. ... - X Accounts receivable disclosures - X More information NOTE 1: Accounting Policies Accounts Receivable Accounts receivable consists principally of trade receivables, which are recorded at the invoiced amount, net of allowances for doubtful accounts and prompt payment discounts. Trade receivables do not bear interest. The allowance for doubtful accounts represents management's estimate of the amount of probable credit losses in existing accounts receivable, as determined from a review of past due balances and other specific account data. Account balances are written off against the allowance when management determines the receivable is uncollectible. For the years ended 2019 and 2018, the Company did not have off-balance sheet credit exposure (in millions) 2019 2018 se. Net sales 10,000 $ 9,800 Accounts receivable, net 1,381 2,257 Hata related to its customers. Total assets 16,500 15,775 NOTE 18 SUPPLEMENTAL FINANCIAL STATEMENT DATA Consolidated Balance Sheet (millions) 2019 2018 Trade receivables $ 1,200 $ 2,000 Requirements Allowance for doubtful accounts (13) (13) Refundable income taxes 53 64 a. How is the carrying value of accounts receivable determined? 141 206 Other receivables 1,381 $ 2,257 b. What factors influence management's judgment in its estimate of the amount of collectible receivables? $ Accounts receivable, net c. What is the percent of trade receivables to total assets at the end of 2019 and 2018? с. Allowance for doubtful accounts (millions) 2019 2018 2017 d. What is the percent of the allowance for uncollectible accounts to total trade receivables in 2019 and 2018? Balance at beginning of year $ 11 $ 10 $ 5 Additions charged to expense 4 4 6 е. What were Zorb's write-offs of accounts receivable in 2019 and 2018? Doubtful accounts charged to reserve (2) (1) (4) $ 13 $ 13 $ 7 Balance at end of year

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