The following information was taken from the December 31, 2023, annual report of WestCon Developments. (5 millions) 2022 2023 $7,480 $5,560 618 506 Net sales Accounts receivable Accounts receivable turnover Days' sales uncollected Industry Average 17.2 21.0 Required: 1. Calculate accounts receivable turnover and days' sales uncollected for the year 2023. (Assume 365 days in a year. Round answers to 2 decimal places.)
The following information was taken from the December 31, 2023, annual report of WestCon Developments. (5 millions) 2022 2023 $7,480 $5,560 618 506 Net sales Accounts receivable Accounts receivable turnover Days' sales uncollected Industry Average 17.2 21.0 Required: 1. Calculate accounts receivable turnover and days' sales uncollected for the year 2023. (Assume 365 days in a year. Round answers to 2 decimal places.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following information was taken from the December 31, 2023, annual report of WestCon Developments.
($ millions)
2022
2023
$7,480 $5,560
618
506
Net sales
Accounts
receivable
Accounts receivable turnover
Days' sales uncollected
Industry Average
17.2
21.0
Required:
1. Calculate accounts receivable turnover and days' sales uncollected for the year 2023. (Assume 365 days in a year. Round your
answers to 2 decimal places.)
Accounts receivable turnover
Days' sales uncollected
times
days
Transcribed Image Text:2. Compare your calculations in (1) to the industry average and select whether the performance of WestCon's is Favourable or
Unfavourable.
Accounts receivable turnover
Days' sales uncollected
WestCon's
Performance
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