(Answered) Microsoft corporation develops produces and markets a wide

Accounting

Microsoft Corporation develops, produces, and markets a wide range of computer software including the Windows operating system. Microsoft reported the following information about Net Sales Revenue and Accounts Receivable (all amounts in millions).

According to its Form 10-K, Microsoft recorded Bad Debt Expense of $ 5 and did not recover any previously written-off accounts during the year ended June 30, 2013.

Required:

1. What amount of accounts receivable was written off during the year ended June 30, 2013?

2. What was Microsoft receivables turnover ratio (to one decimal place) in the current year?

3. Does your answer in requirement 2 suggest the collectibility of Accounts Receivable improved (or deteriorated) in 2013, relative to 2012 when the turnover was 4.8?

View complete question

Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91536552
Price:- $15

Verified Expert

Priced at $30 Now at $15, Verified Solution

Have any Question?Write your Review or question?

Related Questions in Accounting Basics

Question - ayayai companys record of transactions for the

Question - Ayayai Company's record of transactions for the month of April was as follows. Purchases Sales April 1 (balance on hand) 642 @ $6.00 April 3 535 @ $10.000 4 1,605 @ 6.08 9 1,498 @ 10.00 8 856 @ 6.41 11 642 @ 1 ...

Question - in 2002 the executives at telecommunications

Question - In 2002, the executives at telecommunications giant WorldCom perpetrated accounting fraud that led to the largest bankruptcy in US history. The company improperly booked about $4 billion as capital expenditure ...

Question you are the instructor of a one-day tax seminar to

Question: You are the instructor of a one-day tax seminar to inform international students studying business in the United States about the current tax system. You are preparing a background report to help you prepare fo ...

Question - on december 31 2018 fine company acquired a new

Question - On December 31, 2018, Fine Company acquired a new delivery truck in exchange for an old delivery truck that it had acquired in 2012. The old truck was purchased for $70,000 and had a book value of $26,600. On ...

Question - yancey co receives 300000 when it issues a

Question - Yancey Co. receives $300,000 when it issues a $300,000, 10%, mortgage note payable to finance the construction of a building at December 31, 2017. The terms provide for annual installment payments of $50,000 o ...

Question - in march stinson company completes jobs 10 and

Question - In March, Stinson Company completes Jobs 10 and 11. Job 10 cost $27,700 and Job 11 $40,500. On March 31, Job 10 is sold to the customer for $40,500 in cash. Journalize the entries for the completion of the two ...

Question - the following information is available for the

Question - The following information is available for the Starr Air Corporation: Sales - $750,000 Cost of goods sold - 410,000 Gross profit - 340,000 Operating Income - 85,000 Net Income - 42,000 Inventory, beginning yea ...

Accounting question - a comparative balance sheet for

Accounting Question - A comparative balance sheet for Halper Corporation appears on the next page, and the statement of cash flows form follows. Explain below, why you must convert from an accrual basis of accounting to ...

Question - sunshine company purchased equipment for 100000

Question - Sunshine Company purchased equipment for $100,000 in 2012. The machinery originally had an estimated life of 8 years and a salvage value of $10,000. Sunshine used the straight-line depreciation method. In 2016 ...

Question - a summary of labor costs and associated

Question - A summary of labor costs and associated deductions for the month of July follows: Gross PAYG Tax Super Medical Fund Direct labour 40,000 12,000 2,000 200 Indirect labour 8,000 2,400 400 40 48,000 14,400 2, ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Accounting Basics Expert