Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. presented here is selected financial information (

Presented here is selected financial information (in millions of dollars) from the 2017 financial statements...

90.2K

Verified Solution

Question

Accounting

image

Presented here is selected financial information (in millions of dollars) from the 2017 financial statements of Canadian National Railway Company and Canadian Pacific Railway Limited: CN Railway CP Railway Sales $13,041 $6,554 Allowance for doubtful accounts, beginning of year 28 32 Allowance for doubtful accounts, end of year 16 25 Accounts receivable balance (net), beginning of year 875 591 Accounts receivable balance (net), end of year 984 687 Calculate the receivables turnover and average collection period for both companies. (Round times to 1 decimal place, e.g. 52.7 and all other answers to 0 decimal places, e.g. 52.) CN Railway CP Railway Receivables turnover times times Average collection period days days e Textbook and Media Comment on the difference in their collection experiences. was more efficient than in collecting its receivables

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

Calculate the pH and [S2− ] in a 0.13 M H2S solution. Assume Ka1 = 1.0 ✕ 10−7; Ka2 = 1.0 ✕ 10−19.

Chemistry
1.2K views

Explain why bond polarity and molecule polarity are two separate characteristics.

Physics
1.2K views

a) A tumour located at a depth of 10 cm is treated using a non-isocentic technique...

Biology
1.2K views

A B C directional selection adaptation gene pool

Algebra
1.2K views

An Internet bookstore charges 20 shipping for orders under 100 but provides free shipping for...

Accounting
1.2K views

1. The balance in prepaid insurance is a one-year premium paid on June 1,2025 ....

Accounting
1.2K views

Western Manufacturing produces a single product. The original budget for April was based on expected...

Accounting
1.2K views

A business is considering an investment alternative that has the following projected information: ...

Accounting
1.2K views

topic: (distributed enterprise). 9. Drivers of Change: Determine factors that may help accelerate and factors...

Accounting
1.2K views

QUESTION 61 1 point Companies with periodic inventory systems often use techniques such as the...

Accounting
1.2K views

Assignment 1: DiscussionAbsorption versus Variable Costing ( Managerial Accounting) There are several ways a company...

Finance
1.2K views

The risk-free interest rate is 8% per year. Part 1 Attempt 1/1 What amount of...