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linda_us, Master's Degree
Category: Multiple Problems
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Experience:  A tutor for Business, Finance, Accounts and other related topics.
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The module topic is corporate finance reporting, and the

Customer Question

Hi, the module topic is corporate finance reporting, and the case study is about Medtronic Inc. There are two questions I have to answer.
Question 1 - Allowance for Doubtful Accounts
The Company sells to customers on credit. For Fiscal 2014, the Company has reported $3.811 billion as the amount for accounts receivable. What does this amount represent? What is the actual amount in the accounts receivable account? Where did you get this information? Suppose management is worried about the potential credit worthiness of its customers and determines that the allowance account should have been $250 million at the end of Fiscal 2014. What would the impact of this change be on 1) the balance sheet and 2) the income statement, net income and basic earnings per share?
Question 2 - Intangibles - Goodwill
The Company provides details of its intangible assets and goodwill in Footnote 7. Suppose in 2014, management determines the goodwill value is only $9,548 million after valuing the cash flows associated with the respective business units. What impact will this have on the Company’s income statement, net income and earnings per share, and balance sheet?
I gotta answer those questions and submit within 24 hours. I try to answer them myself, yet I am not familiar with those balance sheet, cashflow and income statement.
Kindly let me know if more information can help. Many Thanks.
Submitted: 1 year ago.
Category: Multiple Problems
Customer: replied 1 year ago.
Attached are the files from class.
Expert:  F. Naz replied 1 year ago.

Do you need the answers for 7 questions, please confirm, thanks.

Customer: replied 1 year ago.
Hi, what do you mean? for 7 questions?
Expert:  F. Naz replied 1 year ago.

You assignment file contains Part 1 and Part 2 , you want the answers of both the parts? please confirm, thanks.

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