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 2015 $36,442 5,128 1,585 Turnover Ratio times times times times times 2013 2014 $27,958 $27,843 5,100 5,017 1,094 591 2012 $26,574 4,879 239 Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2011 $25,643 5,524 108 2010 $25,878 5,986 61
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 2015 $36,442 5,128 1,585 Turnover Ratio times times times times times 2013 2014 $27,958 $27,843 5,100 5,017 1,094 591 2012 $26,574 4,879 239 Required: 1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to 2 decimal places.) 2011 $25,643 5,524 108 2010 $25,878 5,986 61
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text: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
2015
$36,442
5,128
1,585
Turnover Ratio
times
times
times
times
times
2014
$27,958
5,100
1,094
2013
$27,843
5,017
591
Required:
1-a. Determine the receivables turnover ratio for 2011-2015. (Round the final answers to
2 decimal places.)
2011
2012
$26,574 $25,643
4,879
5,524
239
108
2010
$25,878
5,986
61
Transcribed Image Text: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.)
2015
2014
2013
2012
2011
Average Collection
Period
days
days
days
days
days
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