Web10 apr. 2024 · In this case, the company has an average collection period of 228.13 days. Using this same formula, Becky can do an estimate of other properties on the market. If her result is lower than theirs, then the company would probably be doing a good job at collecting rent due from residents. Web31 dec. 2024 · Answer to Excerpts from Hulkster Company's December 31, 2024 and 2024,... Expert Help. Study Resources. Log in Join. Campbell University. ACCT. ... Average shareholders' equity = (258,000 + 234,000) ... The average collection period is calculated as 365 days Average accounts receivable balance 365 days Net credit sales . Q: ...
Average Collection Period Formula, Example, Analysis, Calculator
WebWhat adjusting entry is necessary on June 30, 2024? Interest Expense 120 Interest Payable 120 Students also viewed. Chapter 2 Homework (Connect) 7 terms. cccamp21. ACCT … Web31 dec. 2024 · 203) Excerpts from Hulkster Company'sDecember 31, 2024 and 2024, financialstatements are presented below: Accounts receivable Merchandise inventory Net sales Cost of goods sold Total assets Total shareholders' equity Net income Hulkster's 2024 average collection periodis: A) 144 days.B) 87 days.C) 149 days.D) 178 days. … chegg honor code investigation
Excerpts from Hulkster Company
Web31 dec. 2024 · Excerpts from Hulkster Company's December 31, 2024 and 2024, financial statements are presented below: 2024 2024 Accounts receivable $54,000 $43,000 Merchandise inventory 35,000 49,000 Net sales 194,000 185,000 Cost of goods sold 128,000 115,000 Total assets 439,000 412,000 Total shareholders' equity 254,000 … Web31 dec. 2024 · Excerpts from Hulkster Company's December 31, 2024 and 2024, financial statements are presented below: Accounts receivable Merchandise inventory Net sales … WebWe can calculate the Average Collection period by using the below formula: Average Collection Period = 365 Days /Average Receivable Turnover ratio For the second formula, we need to compute the average accounts receivable per … flemington steak house menu