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Question #6 (8 marks, Parts A and B are independent Part A. ABC Inc. has the following information for its years ended June 30: 2020
Question #6 (8 marks, Parts A and B are independent Part A. ABC Inc. has the following information for its years ended June 30: 2020 2019 2018 Sales revenue $567,800 $650,700 $589,200 Accounts receivable $62,500 $67,500 $53,200 Required: Calculate the accounts receivable turnover (Sales/Average Accounts Receivable) to one decimal place and the average collection period for 2020 and 2019 to the nearest day. Assume a year of 365 days. Show computations. 2020 2019 Accounts receivable turnover Average collection period Part B. Presented below are four segments that have been identified by Ace Corp.: Segments Profit (Loss Assets A Operating Total Revenue $ 300,000 800,000 300,000 120,000 B D $ 40,000 (70,000) 6,000 8,000 $ 1,200,000 1,200,000 600,000 300,000 Required. According to IFRS, which segments would be considered reportable segments. Show your calculations to determine the reportable segments
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