Edgar the electronic data gathering analysis and retrieval

Assignment Help Accounting Basics

Reference no: EM13566114

EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system, performs automated collection, validation, indexing, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. Securities and Exchange Commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (Some foreign companies file voluntarily.) Form 10-K or 10-KSB, which include the annual report, is required to be filed on EDGAR. The SEC makes this information available on the Internet.

Required:

1. Access EDGAR on the Internet. The web address is www.sec.gov.

2. Search for Avon Products, Inc. Access the 10-k filing for the most recent fiscal year. Search or scroll to find the financial statements.

3. Answer the following questions related to the company's accounts receivable and bad debts:

a. What is the amount of gross trade accounts receivable at the end of the year?

b. What is the amount of bad debt expense for the year? (Hint: check the statement of cash flows.)

c. Determine the amount of actual bad debt write-offs made during the year. Assume that all bad debts relate only to trade accounts receivable.

d. Using only information from the balance sheets, income statements, and your answer to requirement 3(c), determine the amount of cash collected from customers during the year. Assume that all sales are made on a credit basis, that the company provides no allowances for sales returns, that no previously written-off receivables were collected, and that all sales relate to trade accounts receivable.

Reference no: EM13566114

Questions Cloud

What is exponential depletion of resources what is peak : what is exponential depletion of resources? what is peak depletion of resources? what are the economic consequence of

Why do we need different tools for analyzing the financial : why do we need different tools for analyzing the financial statements? dont the numbers in the financial statements

Do you think budgetary accounting and budgetary reporting : do you think budgetary accounting and budgetary reporting is a good thing? discussion question the discussion question

Explain witha references to english legal system source of : explain witha references to english legal system source of english law and hierarchical nature of the courts in england

Edgar the electronic data gathering analysis and retrieval : edgar the electronic data gathering analysis and retrieval system performs automated collection validation indexing and

Of the various ways to determine the cost of capital which : of the various ways to determine the cost of capital which is the most difficult to get right? explain your

Why is the roe a more appropriate proxy of wealth : why is the roe a more appropriate proxy of wealth maximization for smaller firms rather than for larger

Break-even quantity shapland inc has fixed operating costs : break-even quantity shapland inc. has fixed operating costs of 500000 and variable costs of 50 per unit. if it sells

Given the importance of proper system development what role : given the importance of proper system development what role should an accountant take in a development project? what

User Account

All Pages