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Search for the phrase “Bad Debts” or Allowance

by | Oct 26, 2021 | Business Finance - Accounting | 0 comments

by | Oct 26, 2021 | Business Finance - Accounting | 0 comments

Search for the phrase “Bad Debts” or Allowance

Company is 3M

Using the SEC 10-K for your company, answer the following questions.
Do not cut and paste from your company SEC report.

Discussion Requirements

Reading the notes to the financial statements, as well as the balance sheet, post information about the Accounts Receivable for your company. Who owes the company money? It is possible that your selected company does not report accounts receivable as a separate line item because the company does not generally sell on credit terms.
Search for the phrase “Bad Debts” or Allowance (for collectible accounts). When you read the balance sheet, you may see that the receivables are listed as a net of $X,XXX to show the Allowance for Bad Debts. Comment about the changes in Accounts Receivable and the Allowance for Bad Debts. Are they increasing or decreasing? How does this relate to sales (are sales increasing or decreasing)?
Property, Plants, and Equipment / PPE (Capital Assets; Fixed Assets): Comment about PPE and accumulated depreciation. How are these values changing from year to year: PPE, Accumulated Depreciation, and Net PPE?

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