Case A Dr. Popper, is a leading worldwide Integrated brand owner, bottler, and distributor of non-alcoholic beverages. The following represents selected data from recent financial statements of Dr. Popper (dollars in millions): (in millions) Assets Current assets: Dr. Popper Consolidated Balance Sheets (partial) Cash and cash equivalents Accounts receivable (net of allowances of $12 and $19, respectively) December 31, December 31, 20x3 20x2 Consolidated Statements of Income (partial) $ 222 $ 71 540 530 For the Year Ended December 31 (in millions) 20x3 Net sales $ 5,800 Net income $ 894 20x2 $ 5,680 $ 870 20x1 $ 5,678 $ 720 Source: Dr. Popper The company also reported bad debt expense of $6 million in 20x3, $12 million in 20x2, and $8 million in 20x1. Required: 1. Record the company's write-offs of uncollectible accounts for 20x3. 2. Assuming all sales were on credit, what amount of cash did Dr. Popper collect from customers in 20x3? 3. Compute the company's net profit margin for the three years presented. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Record the company's write-offs of uncollectible accounts for 20x3. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered as 10). View transaction list Journal entry worksheet < 1 Record the company's write-offs of uncollectible accounts for 20x3. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...

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Transcribed Image Text:Case A Dr. Popper, is a leading worldwide Integrated brand owner, bottler, and distributor of non-alcoholic beverages. The following represents selected data from recent financial statements of Dr. Popper (dollars in millions): (in millions) Assets Current assets: Dr. Popper Consolidated Balance Sheets (partial) Cash and cash equivalents Accounts receivable (net of allowances of $12 and $19, respectively) December 31, December 31, 20x3 20x2 Consolidated Statements of Income (partial) $ 222 $ 71 540 530 For the Year Ended December 31 (in millions) 20x3 Net sales $ 5,800 Net income $ 894 20x2 $ 5,680 $ 870 20x1 $ 5,678 $ 720 Source: Dr. Popper The company also reported bad debt expense of $6 million in 20x3, $12 million in 20x2, and $8 million in 20x1. Required: 1. Record the company's write-offs of uncollectible accounts for 20x3. 2. Assuming all sales were on credit, what amount of cash did Dr. Popper collect from customers in 20x3? 3. Compute the company's net profit margin for the three years presented.

Complete this question by entering your answers in the tabs below.
Required 1
Required 2 Required 3
Record the company's write-offs of uncollectible accounts for 20x3.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in
millions (i.e., 10,000,000 should be entered as 10).
View transaction list
Journal entry worksheet
< 1
Record the company's write-offs of uncollectible accounts for 20x3.
Note: Enter debits before credits.
Transaction
1
General Journal
Debit
Credit
Record entry
Clear entry
View general journal

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