iRobot designs and manufactures robots for consumer, commercial, and military use. For the fiscal year ended January
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iRobot designs and manufactures robots for consumer, commercial, and military use. For the fiscal year ended January 2, 2016, the company reported the following on its balance sheet and income statement (amounts in thousands):
- Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27, 2014, of $104,679 and $71,056, respectively.
- Revenue for fiscal 2015 (i.e., the year ended January 2, 2016) of $616,778.
- Bad debt expense for fiscal 2015 of $0. Compute the amount of cash collected from customers during fiscal 2015.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial Reporting Financial Statement Analysis and Valuation a strategic perspective
ISBN: 978-1337614689
9th edition
Authors: James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
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