The Second Cup is a Canadian specialty coffee retailer with over 350 cafs that serve the...
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The Second Cup is a Canadian specialty coffee retailer with over 350 cafés that serve the needs of thousands of guests daily. Its annual reports include the following details (in thousands of Canadian dollars): Year 2015 2013 2014 $28,277 $27,239 2012 $26,454 2011 $25,954 Net sales $37,186 5,162 Accounts receivable 5,132 5,004 4,835 5,656 Allowance for doubtful 1,584 1,103 654 286 135 accounts Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2010 $25,955 5,915 71 Turnover Ratio 2015 times 2014 times 2013 times 2012 times 2011 times 1-b. Determine the average collection period for 2011-2015. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.) 2015 2014 2013 2012 2011 Average Collection Period days days days days days The Second Cup is a Canadian specialty coffee retailer with over 350 cafés that serve the needs of thousands of guests daily. Its annual reports include the following details (in thousands of Canadian dollars): Year 2015 2013 2014 $28,277 $27,239 2012 $26,454 2011 $25,954 Net sales $37,186 5,162 Accounts receivable 5,132 5,004 4,835 5,656 Allowance for doubtful 1,584 1,103 654 286 135 accounts Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2010 $25,955 5,915 71 Turnover Ratio 2015 times 2014 times 2013 times 2012 times 2011 times 1-b. Determine the average collection period for 2011-2015. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.) 2015 2014 2013 2012 2011 Average Collection Period days days days days days
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Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
Posted Date:
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