The information below has been extracted from the financial statements of Crystal Craft Ltd. Required (a) Calculate
Question:
The information below has been extracted from the financial statements of Crystal Craft Ltd.
Required
(a) Calculate the following for years 2020 and 2021:
i. receivables turnover ratio
ii. average collection period of accounts receivable.
(b) Using your calculations in requirement (a), comment on the credit collection policies of the company. What additional information could be used to make an analysis of cash collection policies more meaningful?
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Crystal Craft Ltd Financial Information Year Cash at Bank Marketable Securities Accounts Receivable Sales Revenue Cost of Sales 2019 44000 88000 10200...View the full answer
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Rustia Melrod
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Related Book For 
Financial Accounting
ISBN: 9780730363217
10th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie, Andreas Hellmann, Jodie Maxfield
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