Wildcat Sporting Goods (WSG) sells athletic shoes and trendy sports apparel to a variety of sporting goods
Question:
Wildcat Sporting Goods (WSG) sells athletic shoes and trendy sports apparel to a variety of sporting goods stores in the Northeast and, in 2011, WSG also began direct internet sales to consumers. WSGs common shares are publicly traded and WSG has a December 31 year-end. WSG has historically received an unqualified opinion from its audit firm. Selected financial data is provided below: 2009 2010 2011 2012 Sales $300,000,000 $360,000,000 $420,000,000 $370,000,000 Credit sales 100% 100% 90% 80% Internet sales 0% 0% 10% 20% Accounts receivable $42,000,000 $53,000,000 $48,000,000 $67,000,000 Allowance for doubtful accounts $4,150,000 $5,000,000 $4,300,000 $16,300,000 Allowance/accounts receivable 9.88% 9.43
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella