The financial statements of Shoppers Drug Mart are presented in Appendix A at the end of this

Question:

The financial statements of Shoppers Drug Mart are presented in Appendix A at the end of this book.

Instructions

(a) What types of receivables does Shoppers Drug Mart report in its 2012 balance sheet?

(b) Calculate the receivables turnover and average collection period ratios for accounts receivable for 2012 and 2011. Shoppers' accounts receivable were $470,935 thousand at the end of 2010. (Assume all sales were credit sales and use net receivables instead of gross receivables.)

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...