2023 2022 2021 2020 Current assets $1,634 $6,036 $3,850 $1,495 Current liabilities 629 2,181 1,276 980 Net sales 3,940 10,342 5,778 4,404 Accounts receivable - gross 1,456 934 746 565 Allowance for doubtful accounts 168 34 17 14
2023 2022 2021 2020 Current assets $1,634 $6,036 $3,850 $1,495 Current liabilities 629 2,181 1,276 980 Net sales 3,940 10,342 5,778 4,404 Accounts receivable - gross 1,456 934 746 565 Allowance for doubtful accounts 168 34 17 14
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
3. average collection period for 2021 through 2023
![GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of
Canadian dollars.
2023
2022
2021
2020
Current assets
$1,634
$6,036
$3,850
$1,495
Current liabilities
629
2,181
1,276
980
Net sales
3,940
10,342
5,778
4,404
Accounts receivable - gross
1,456
934
746
565
Allowance for doubtful accounts
168
34
17
14
Calculate the following for the company:
(1)
current ratio for 2020 through 2023
(2)
receivable turnover ratio for 2021 through 2023
ENG
6:55](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7098688e-e608-4fb0-af9c-842fe854c17e%2Ff7daae13-c5c0-42ec-959b-73f6eaf05da8%2Flz8c9o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:GS&H had the following information on its financial statements for the fiscal years ended December 31. All figures are in millions of
Canadian dollars.
2023
2022
2021
2020
Current assets
$1,634
$6,036
$3,850
$1,495
Current liabilities
629
2,181
1,276
980
Net sales
3,940
10,342
5,778
4,404
Accounts receivable - gross
1,456
934
746
565
Allowance for doubtful accounts
168
34
17
14
Calculate the following for the company:
(1)
current ratio for 2020 through 2023
(2)
receivable turnover ratio for 2021 through 2023
ENG
6:55
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