Question: During 2018 Kincolith Inc Kincolith reported revenue of 125 125 000 During
During 2018, Kincolith Inc. (Kincolith) reported revenue of $125,125,000. During 2018, the average collection period for accounts receivable was 47 days. Accounts receivable at the end of 2017 was 12 percent greater than at the end of 2018. What was Kincolith's accounts receivable at the end of 2017?
Relevant QuestionsUse the following information about Sunnyside Ltd. to calculate the accounts receivable turnover ratio and the average collection period for 2016 and 2017. Explain what each numbermeans.A travelling amusement park hires people in the towns the park visits to operate the rides on the midway. The person hired is given full responsibility for the ride. Responsibility includes collecting cash from the people ...Since 2013, Halkirk Inc. (Halkirk) has estimated that its bad debt expense would be approximately 3 percent of credit sales each year. In late 2014, Halkirk made a number of changes to its internal control procedures that ...For the year ended December 31, 2018, Alpena Inc. (Alpena) had revenues of $2,456,000 (all on credit). Its average collection period of accounts receivable for 2018 was 62 days. Accounts receivable on December 31, 2017 was ...How much does CAE report on its balance sheet for accounts receivable on March 31, 2012? What does that amount represent (how would you explain its meaning to a novice user of financial statements)? How much do CAE's ...
Post your question