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(a) For 2018 and 2017, calculate Winpak's current ratio, receivables turnover, and average collection period. (Round answers to 1 decimal place, e.g. 5.2.) Current ratio Receivables turnover Average collection period 2018 :1 times days 2017 :1 times days

(a) For 2018 and 2017, calculate Winpak's current ratio, receivables turnover, and average collection period. (Round answers to 1 decimal place, e.g. 5.2.) Current ratio Receivables turnover Average collection period 2018 :1 times days 2017 :1 times days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Hi,

How do I calculate these ratios? And what are the formulas to calculate them

Thanks

The following information (in thousands) was taken from the December 31 financial statements of Winpak Ltd., a packaging company based in Winnipeg: Trade accounts receivable, gross Allowance for doubtful accounts Trade accounts receivable, net Revenues Total current assets Total current liabilities Current ratio Receivables turnover 2018 Average collection period $124,376 956 123,420 889,641 612,546 73,168 2017 $110,145 2018 655 109,490 886,774 530,811 65,323 (a) For 2018 and 2017, calculate Winpak's current ratio, receivables turnover, and average collection period. (Round answers to 1 decimal place, e.g. 5.2.) :1 times 2016 $115,320 days 795 114,525 822,532 442,785 78,022 2017 :1 times days
Transcribed Image Text:The following information (in thousands) was taken from the December 31 financial statements of Winpak Ltd., a packaging company based in Winnipeg: Trade accounts receivable, gross Allowance for doubtful accounts Trade accounts receivable, net Revenues Total current assets Total current liabilities Current ratio Receivables turnover 2018 Average collection period $124,376 956 123,420 889,641 612,546 73,168 2017 $110,145 2018 655 109,490 886,774 530,811 65,323 (a) For 2018 and 2017, calculate Winpak's current ratio, receivables turnover, and average collection period. (Round answers to 1 decimal place, e.g. 5.2.) :1 times 2016 $115,320 days 795 114,525 822,532 442,785 78,022 2017 :1 times days
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