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Write a 200 – 400 word

paragraph including
general facts about the industry in which your companies operate. Also summarize each company you have been assigned (in your own words) from reading the Form 10-K for each of those companies. Each company description should be 200 – 300 words in length. Do not copy and paste information; put the information

in
your own

  • Look

    in
    the Notes to the Financial Statements. What type of receivables does this company have?
  • Imagine that this company makes a sale of its product. Describe a possible sales transaction and list the journal entry that the company would make to recognize the sale (assume the sale is on

    account
    .) For this assignment, ignore the cost of goods sold entry.
  • What do you know about the company’s Allowance for Uncollectible Accounts? What name does the company call its allowance? Where in your company’s 10-K do you find this information?
  • What is the gross amount of the company’s receivables? What percentage of this gross is its allowance?
  • Calculate and interpret these ratios for two years (show your calculations):
    • Current ratio
    • Quick ratio
    • Average daily sales (Net sales / 365 days)
    • Days’ sales outstanding (Average net receivables / Average daily sales) (Note: You will need to use some balance sheet balances from three years, even though the balance sheet only includes two years of balances. To find one year earlier than the two years presented on the balance sheet, find the Form 10-K for the earlier year.)

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