Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016: 2018 2017 2016 Trade receivables (gross) $109,945 $90,862 $90,463 Allowance for doubtful accounts 1,305 5 5 Sales 3,495,519 3,522,226 3,331,812 (a) Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.) 2018 2017 Receivables turnover enter number of times rounded to 1 decimal place times enter number of times rounded to 1 decimal place times Average collection period enter days rounded to 1 decimal place days enter days rounded to 1 decimal place days
Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016: 2018 2017 2016 Trade receivables (gross) $109,945 $90,862 $90,463 Allowance for doubtful accounts 1,305 5 5 Sales 3,495,519 3,522,226 3,331,812 (a) Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.) 2018 2017 Receivables turnover enter number of times rounded to 1 decimal place times enter number of times rounded to 1 decimal place times Average collection period enter days rounded to 1 decimal place days enter days rounded to 1 decimal place days
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...
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Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2018, 2017, and 2016:
|
2018
|
2017
|
2016
|
||||
|---|---|---|---|---|---|---|
|
Trade receivables (gross)
|
$109,945 | $90,862 | $90,463 | |||
|
Allowance for doubtful accounts
|
1,305 | 5 | 5 | |||
|
Sales
|
3,495,519 | 3,522,226 | 3,331,812 |
(a)
Calculate Maple Leaf’s receivables turnover and average collection period for 2018 and 2017. (Round answers to 1 decimal place, e.g. 52.5.)
| 2018 | 2017 | |||||
|---|---|---|---|---|---|---|
| Receivables turnover | enter number of times rounded to 1 decimal place | times | enter number of times rounded to 1 decimal place | times | ||
| Average collection period | enter days rounded to 1 decimal place | days | enter days rounded to 1 decimal place | days |
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