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rjkz [21]
2 years ago
13

Avon Products, Inc., located in New York City, is one of the world’s largest producers of beauty and related products. The compa

ny's consolidated balance sheets for the 2016 and 2015 fiscal years included the following:
2015 2014
Current assets:
Receivables, less allowances of $86,700 in 2015 and $106,900 in 2014: $443,000 $515,600

A disclosure note accompanying the financial statements reported the following ($ in thousands):

Year Ended
2015 2014
Calculation of account receivables, net
Receivables $529,700 $622,500
Less: Allowance for doubtful accounts (77,600) (93,700)
Less: Reserve for product returns (9,100) (13,200)
Trade accounts receivable, net: $443,000 $515,600

Assume that the company reported bad debt expense in 2015 of $144,100 and had products returned for credit totaling $6,800 (sales price). Net sales for 2015 were $6,076,500 ($ in thousands).

Required:

a. What is the amount of accounts receivable due from customers at the end of 2015 and 2014?
b. What amount of accounts receivable did Avon write off during 2015?
c. What is the amount of Avon's gross sales for the 2015 fiscal year?
d. Assuming that all sales are made on a credit basis, what is the amount of cash Avon collected from customers during the 2015 fiscal year?
Business
1 answer:
kvv77 [185]2 years ago
4 0

Answer:

a) Accounts Receivable 2015 = $443,000 2014 = $515,600

b) Bad Debt Expense = $144,100

c) Gross sales = $6,083,300

d) Cash collected from Customers = $6,005,000

Explanation:

a and b are given.

c) Gross Sales = $6,076,500 + $6,800 = $6,083,300

d) Cash collected = opening balance in Account receivable + credit  Net sales - Bad debt - Closing balance in Accounts Receivables

                            = $515,600 + $6,076,500 - $144,100 - $443,000

                           =$6,005,000

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Answer:

The answer is letter A.

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The true statement is Annual data on the distribution of income will indicate that the degree of income inequality in the two cities is identical.

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Two online travel companies, E-Travel and Pricecheck, provide the following selected financial data: ($ in thousands) E-Travel P
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Answer:

E-travel-1.15

Pricecheck-0.38

Explanation:

Debt to equity ratio compares the finance provided by outsiders viz-a-viz that which is provided by the original owners of the company,the shareholders, in order to determine whether or not the company is at risk of slow growth if outsiders withdraw their funds.

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debt-equity ratio=$2,854,475/$2,482,681=1.15

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Pricecheck:

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BlackBerry, which gained significant market share in the early 2000s in the business, government, and consumer markets, lost mar
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Answer:

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Operations: nurse staffing methods for function or treatment.

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If valuing such activities, it should remember, that this patient (client) becomes impacted mainly. The clinicians or staff involved in Tasks 1 & 2, because Task 2, the very first priority must be considered, and also some standards must be developed, by each nurse, with remote care issues.

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The process improvement throughout the solution of the problems in the hospitals by providing them the necessary importance to identify the priorities of different tasks.

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