The financial statements of The North West Company Inc. are presented in Appendix A at the end
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Instructions
(a) What types of receivables does The North West Company report in its 2016 balance sheet?
(b) Calculate the receivables turnover and average collection period ratios for accounts receivable for 2016 and 2015. North West's accounts receivable were $70,527 thousand at January 31, 2014. (Assume all sales were credit sales and use the carrying amount for accounts receivable instead of gross receivables.)
(c) What conclusions can you draw about North West's management of its receivables from your answer to part CT8.1(b)?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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a The North West Company Inc reports 79373000 accounts receivable on its January 31 2016balance sh...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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