Description
Requirements
a.
Based on the financial informa
tion provided on the next page,
what is Leggett & Platt,
Inc.’s gross amount of receivabl
es at the end of 2016 and 2015?
b.
Compute the common-size amount for gross
accounts receivable, for both years (to
common-size a balance sheet it
em, it is expressed as a pe
rcentage of total assets).
Interpret the year-over-year change in this ratio.
c.
Compute the allowance for doubtful account
s to gross accounts receivable, for both
years. Interpret the year-over-year change in this ratio.
d.
Based on the ratios you calculated, form an
opinion about the quality of the company’s
a.
accounts receivable.
e.
How can companies use accounts receivables
to shift income between financial
accounting periods? Explain why managers engage
in this sort of activity. Discuss how
companies would justify such income shif
ting choices to the external auditor.
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Explanation & Answer
Please let me know if there is anything needs to be changed or added. I will be also appreciated that you can let me know if there is any problem or you have not received the work. Please let me know if there is anything needs to be changed or added. I will be also appreciated that you can let me know if there is any problem or you have not received the work Good luck in your study and if you need any further help in your assignments, please let me know Can you please confirm if you have received the work? Once again, thanks for allowing me to help you R
Leggett and Platt case
by HAL Lab
Submission date: 04-May-2019 07:58AM (UT C-0700)
Submission ID: 1122782503
File name: Leggett_and_Platt_case.edited.docx (31.97K)
Word count: 617
Character count: 3211
Leggett and Platt case
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Running head: LEGGETT & PLATT INC CASE STUDY
Leggett & Platt ...
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