The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway

Question:

The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway Company:

Instructions
a. Calculate the 2019 and 2018 current ratios.
b. Calculate the receivables turnover and collection period for 2019 and 2018.
c. Comment on any improvement or weakening in CN’s liquidity and its management of accounts receivable.

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Accounting Principles Volume 1

ISBN: 9781119786818

9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Jul 01, 2023 04:42 AM

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The following information (in millions) was taken from the December 31 financial statements of Canadian National Railway

Question:

Accounts receivable, gross Allowance for doubtful accounts Accounts receivable, net Revenues Total current assets Total current liabilities 2019 $ 1,241 28 1,213 14,917 2,830 4,287 2018 $ 1,195 26 1,169 14,321 2,728 3,500 2017 $ 1,000 16 984 13,041 2,190 3,983

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a b c Liquidity and management of accounts receivable have deteriorated For liquidity th...View the full answer

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