Question: Exhibit 6 13 is from the Vancouver Fraser Port Authority s 2013

Exhibit 6-13 is from the Vancouver Fraser Port Authority’s 2013 financial report.
a. Calculate the following ratios for both the current and preceding year:
i. Current ratio
ii. Quick ratio
How do they compare with each other? Why is this the case?
b. Calculate the Port’s allowance for doubtful accounts as a percentage of its accounts receivable for the current and preceding years. Also calculate the percentage of the Port’s accounts receivable that were past due for both years. Comment on the trend.
c. What would the Port’s allowance and writeoff entries have been for 2013?

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