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Q1) Recent annual report for FedEx containing the data given below:

 
(Dollars in thousands)
 
 
Current Year
Previous Year
Accounts receivable
$3,178,000
$2,776,000
Less: Allowance for doubtful accounts
151,000
149,000
Net Accounts Receivable
$3,027,000
$2,627,000
Net Sales (assume all on credit)
$24,710,000
 

problems:

1) Find out accounts receivable turnover ratio and average day's sales in receivables for current year.

2) Describe the meaning of each number

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920720

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