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 Net sales Accounts receivable Allowance for doubtful accounts 2015 2014 2013 2012 2011 Turnover Ratio times times 2015 2014 2013 2012 2011 times times times Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2015 $37,329 5,181 1,535 Average Collection Period 2014 $28,884 5,107 1,161 days days days days days 2013 $27,942 5,003 662 2012 $26,451 4,833 216 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.) 2011 $25,827 5,692 106 2010 $25,975 5,956 64 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 Net sales Accounts receivable Allowance for doubtful accounts 2015 2014 2013 2012 2011 Turnover Ratio times times 2015 2014 2013 2012 2011 times times times Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2015 $37,329 5,181 1,535 Average Collection Period 2014 $28,884 5,107 1,161 days days days days days 2013 $27,942 5,003 662 2012 $26,451 4,833 216 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.) 2011 $25,827 5,692 106 2010 $25,975 5,956 64
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Related Book For
Understanding Financial Accounting
ISBN: 978-1118849385
1st Canadian Edition
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
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