If Hot Corporation has a balance in account receivable of P80,000, total assets of P520,000, credit sales of P360,000, and current liabilities of P60,000. Assuming a 360-day year, what is the receivable turnover and average collection period, respectively? a. 4.5; 80 d. 6.0; 60 b. 6.5; 55.38 e. 8.67; 41.38 c. 1.44; 250
If Hot Corporation has a balance in account receivable of P80,000, total assets of P520,000, credit sales of P360,000, and current liabilities of P60,000. Assuming a 360-day year, what is the receivable turnover and average collection period, respectively? a. 4.5; 80 d. 6.0; 60 b. 6.5; 55.38 e. 8.67; 41.38 c. 1.44; 250
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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If Hot Corporation has a balance in account receivable of P80,000, total assets of P520,000, credit sales of P360,000, and current liabilities of P60,000. Assuming a 360-day year, what is the receivable turnover and average collection period, respectively?
a. 4.5; 80 d. 6.0; 60
b. 6.5; 55.38 e. 8.67; 41.38
c. 1.44; 250
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