Determine the receivables turnover ratio

Assignment Help Financial Management

Reference no: EM132070025

A recent annual report for FedEx contained the following data:

	(dollars in thousands)
	Current Year			Previous Year
Accounts receivable		$	3,777,000		$	4,687,000
Less: Allowance for doubtful accounts			182,000			155,000
Net accounts receivable		$	3,595,000		$	4,532,000
Net sales (assume all on credit)		$	36,097,000

Required:

Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Enter your answers in thousands not in dollars. Ratio values should be rounded to 2 decimal places.)

Reference no: EM132070025

Questions Cloud

What would be the credit card balance at the end : You received a credit card application from Sun Bank offering an introductory raye of 2.9% per year compounded monthly for the first six months .

Effectiveness of earned value management : To ensure the effectiveness of Earned Value Management (EVM), what could you implement in an organization to increase the project's level of success?

What are promoted tweets : What does "trending" mean on twitter? What are promoted tweets? Please cite all outside sources used.

Aspects of maga rukai phonology : What kind of rule is this? (Source: Hsin, Tien-Hsin, Aspects of Maga Rukai phonology. Doctoral dissertation, The University of Connecticut, 2000.)

Determine the receivables turnover ratio : Determine the receivables turnover ratio and average days sales in receivables for the current year.

How much is the endowment that you received : You have just received an endowment and placed this money in a savings account at an annual rate of 10.42 percent.

Discuss the following in own words count : Teams are everywhere in society. Discuss specific successful teams that you have seen or experienced.

Impediments to innovation and the supports of innovation : To make the transition from initiative to enterprise capability, the company needs to identify - objectively- the enablers of and impediments to innovation

Which option should you select and why is that option : You just received an insurance settlement offer related to an accident you had three years ago.

User Account

All Pages