Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December
Question:
Maple Leaf Foods Inc. reported the following selected information (in thousands) for the three years ended December 31, 2015, 2014, and 2013:
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(a) Calculate Maple Leaf's receivables turnover and average collection period for 2015 and 2014.
(b) Indicate whether each of the receivables turnover and average collection period is better or worse in 2015.
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a in thousands 2015 2014 Receivables 3292932 1431 times 3157241 1095 times turnover 25537 204...View the full answer
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Related Book For 
Financial Accounting Tools for Business Decision Making
ISBN: 978-1119368458
7th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
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