[statistics40987]

The Home Depot, Inc. financial statements appear in Appendix A at the end of this textbook. Use these statements to answer the following questions:

a. What is the total dollar value of the company's financial assets for the most current year reported? (Omit the "$" sign in your response.)

Value of financial assets $ billion

b. Does the company report any investments in marketable securities?


c. What is the company's allowance for uncollectible accounts for the most current year reported? (Hint: Examine the footnotes to the financial statements.) (Omit the "$" sign in your response.)

Allowance for uncollectible accounts $

d. On average, for how many days do the company's accounts receivable remain outstanding before collection? (Use 365 days a year. Round your answer to one decimal place.)

Average days outstanding days

My answers:

I figured the amount on the statement for part A and it says: 40,877 million, I converted that to billion but it was not the correct amount ( See attached image)

For part b I got the answer right which is YES

For part C I found the amount on the statement and converted it to Billions and got 0.105 and it was correct.

I get I'm stuck on A and the last one (d) which is how many days.

Thank you for your help!

[paraclete]

Without being privvy to the information you have I can't help with A other than to comment, is the question expecting you to round to the nearest billion. However with accounts receivable you divide the receivables by the sales and convert that to days i.e. AR/Sales *365

[statistics40987]

Yes. It is asking me to round to the nearest billion. I have done what you suggested but I'm still getting nowhere with this. Thanks for your help!

[paraclete]

My formula expressed the statistic in it's most basic form but you need the opening and closing receivables to get an average