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Question - The Second Cup is a Canadian specialty coffee retailer with over 350 cafes that serve the needs of thousands of guests daily. Its annual reports include the following details (in thousands of Canadian dollars):
Year
2015
2014
2013
2012
2011
2010
Net sales
$37,341
$28,172
$27,188
$26,346
$25,001
$25,171
Accounts receivable
5,168
5,115
5,031
4,839
5,449
5,917
Allowance for doubtful accounts
1,734
1,089
633
223
111
74
Required -
1. Determine the receivables turnover ratio and average collection period for 2011-2015, and comment on the results.
2. Explain the meaning of the numbers that you calculated in requirement (1).
3. Compute the ratio of allowance for doubtful accounts to accounts receivable for each of the six years, and comment on the results.
Net income was $ 61,000 for the year. The accumulated depreciation balance increased by $14,000 over the year. There were no sales of fixed assets or changes in noncash current assets or liabilities. Under the indirect method, the cash flow from o..
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