SOLUTION: 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

Question 1134051: 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):

2015
Net sales: $36,238
Accounts receivable: $5,156
Allowance for doubtful accounts: $1,706
2014
Net sales: $27,497
Accounts receivable: $5,146
Allowance for doubtful accounts: $1,005
2013
Net sales: $27,345
Accounts receivable: $5,015
Allowance for doubtful accounts: $657
2012
Net sales: $26,385
Accounts receivable: $4,813
Allowance for doubtful accounts: $274
2011
Net sales: $25,554
Accounts receivable: $5,651
Allowance for doubtful accounts: $133
2010
Net sales: $25,689
Accounts receivable: $5,959
Allowance for doubtful accounts: $55
1-a.
Determine the receivables turnover ratio for each year 2011 - 2015. (Round the final answers to 2 decimal places.)

1-b.
Determine the average collection period for each year 2011 - 2015. (Use 365 days a year. Round the intermediate calculations to 2 decimal places and the final answers to the nearest whole number.)

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
No.
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