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Category > Management Posted 06 Jan 2018 My Price 7.00

Turnover for Columbia Sportswear

Exercise 7-5   Accounts Receivable Turnover for Columbia Sportswear   The financial statements included in the 2011 Form 10-K of Columbia Sportswear reported the following amounts (in thousands of dollars):

Net sales, for the year ended December 31, 2011                            $1,693,985 Accounts receivable, net, December 31, 2011                                                                                                         351,538

Accounts receivable, net, December 31, 2010                                        300,181

 

LO1

EXAMPLE 7-5

 

 

 

 

 

 

 

 

 

 

 

 

LO2

EXAMPLE 7-6

 

Required

1.        Compute Columbia Sportswear’s accounts receivable turnover ratio for the year ended December 31, 2011. (Assume that all sales are on credit.)

2.        What is the average collection period in days for an account receivable? Explain your answer.

3.        Give some examples of the types of customers you would expect Columbia Sportswear to have. Do you think the average collection period for sales to these customers is reasonable? What other information do you need to fully answer that question?

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Maurice Tutor
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Status NEW Posted 06 Jan 2018 05:01 PM My Price 7.00

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