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Can someone help me with this please :) Advanced Lifestyle Ltd has stores in Auckland and Queenstown. The following information was taken from the 2016
Can someone help me with this please :)
Advanced Lifestyle Ltd has stores in Auckland and Queenstown. The following information was taken from the 2016 financial statements, showing the results of its two divisions: (in NZ$ millions) Total sales Credit sales Gross profit Allowance for doubtful debts (2015) Allowance for doubtful debts (2016) Accounts receivable (2015) Accounts receivable (2016) Total current assets Auckland 1,633 1,372 227 7.9 9 145 197 344 Queenstown 1,472 1,517 192 5.8 5.3 136 116 279 Accounts receivable balances presented gross, before deduction of allowance for doubtful debts. Required Please calculate the receivable turnover based on the Net Receivable balances. Calculate for each division: 1. receivable turnover for 2016 2. average collection period for 2016 3. credit risk ratio for 2016 and 2015. (Round recelvable turnover and average collection period to 1 decimal places, e.g. 15.6. Round credit risk ratio to 2 decimal places, e.g. 7.83%.) Advanced Lifestyle Ltd Auckland Queenstown 1. Receivable turnover times times 2. Average collection period days days 3. Credit risk ratio for 2016 Credit risk ratio for 2015 Click if you would like to show Work for this question: Open Show Work % % % %Step by Step Solution
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