Walmart Inc (WMT) has the following excerpts from their financial statements January 31, 2022 January 31, 2021 Net Recei
Posted: Fri Jul 01, 2022 8:30 am
Walmart Inc (WMT) has the following excerpts from theirfinancial statements
January 31, 2022
January 31, 2021
Net Receivables * (in $ Millions)
8,280
6,516
*Net Receivable = Gross receivable minusAllowance
Walmart’s fiscal year “FY22” is defined as the period betweenFebruary 1, 2021 – January 31, 2022
Gross (Accounts) Receivables, January 31,2022: $9,265 Million
Gross Receivables, January 31, 2021: $7,421 Million
Accounts Written-off in FY22 $221 Million
2% of credit sales is assumed to be uncollectable
CALCULATE
1) The ending balance of Allowance for uncollectable accounts asof January 31, 2022
2) Bad Debt Expense for the fiscal year ending on January31, 2022.
3) Collections during FY22
January 31, 2022
January 31, 2021
Net Receivables * (in $ Millions)
8,280
6,516
*Net Receivable = Gross receivable minusAllowance
Walmart’s fiscal year “FY22” is defined as the period betweenFebruary 1, 2021 – January 31, 2022
Gross (Accounts) Receivables, January 31,2022: $9,265 Million
Gross Receivables, January 31, 2021: $7,421 Million
Accounts Written-off in FY22 $221 Million
2% of credit sales is assumed to be uncollectable
CALCULATE
1) The ending balance of Allowance for uncollectable accounts asof January 31, 2022
2) Bad Debt Expense for the fiscal year ending on January31, 2022.
3) Collections during FY22