Dexter, Inc., had a cost of goods sold of $75,318. At the end of the year, the
Question:
Dexter, Inc., had a cost of goods sold of $75,318. At the end of the year, the accounts payable balance was $18,452. How long on average did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (3 reviews)
Solution Calculation of days ...View the full answer
Answered By
Marvine Ekina
Marvine Ekina
Dedicated and experienced Academic Tutor with a proven track record for helping students to improve their academic performance. Adept at evaluating students and creating learning plans based on their strengths and weaknesses. Bringing forth a devotion to education and helping others to achieve their academic and life goals.
PERSONAL INFORMATION
Address: , ,
Nationality:
Driving License:
Hobbies: reading
SKILLS
????? Problem Solving Skills
????? Predictive Modeling
????? Customer Service Skills
????? Creative Problem Solving Skills
????? Strong Analytical Skills
????? Project Management Skills
????? Multitasking Skills
????? Leadership Skills
????? Curriculum Development
????? Excellent Communication Skills
????? SAT Prep
????? Knowledge of Educational Philosophies
????? Informal and Formal Assessments
0.00
0 Reviews
10+ Question Solved
Related Book For
Fundamentals Of Corporate Finance
ISBN: 9781265553609
13th Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
Question Posted:
Students also viewed these Business questions
-
For 2012, Hartney Inc. had a cost of goods sold of $28,834. At the end of the year, the account payable balance was $6,105. How long on average did it take the company to pay off its suppliers during...
-
The Robinson Company had a cost of goods sold of $1,000,000 in 2014 and $1,200,000 in 2015. a. Calculate the inventory turnover for each year. Comment on your findings. b. What would have been the...
-
The Taylor Company Limited reported a cost of goods sold of $640,000 last year, when 20,000 units were produced and sold. The cost of goods sold was 35% materials, 42% direct labour, and 23%...
-
Complete the following table of basic calculations. For Percent Contribution Margin, use (P-MC)/P. Round to table standard. Price 18 17 16 15 14 13 j Quantity Demanded 600 a 800 900 1000 1100 1200...
-
Give the mathematical relationships between the members of each possible pair of the three quantities Go, Eo cell, and K.
-
Rustin bought used 7-year class property on May 15, 2010, for $500,000. Rustin elects 179 and straight-line cost recovery. Rustins taxable income would not create a limitation for purposes of the 179...
-
Fashion Fabrics makes custom handbags and accessories for high-end clothing boutiques. Record summary journal entries for each of the following transactions that took place during the month of...
-
Bowyer Manufacturing Company has the following production data for selected months. Compute the physical units for eachmonth. Ending Work in Process % Complete as to Conversion Cost Beginning Work in...
-
a) A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the...
-
Weierman Department Store is located in the downtown area of a medium-sized city in the American Midwest. While the store had been profitable for many years, it is facing increasing competition from...
-
The market value of the equity of Nina, Inc., is $755,000. The balance sheet shows $63,000 in cash and $220,000 in debt, while the income statement has EBIT of $95,000 and a total of $178,000 in...
-
Jackson Corp. has a profit margin of 5.8 percent, total asset turnover of 1.75, and ROE of 13.85 percent. What is this firms debt-equity ratio?
-
Compare shares to bonds. Which is the more advantageous method of raising money?
-
16. In the table above, it would be a Pareto-Improvement to go from Allocation 1 to Allocation 2. r True - False
-
You are the support worker for a student with dyslexia. What resources might you be required to assemble or source? Give Six example.
-
Profits for the company can rocket upward if it achieves sufficient savings in supply chain costs. This is important given the broad scope of the supply chain, which extends beyond the company to...
-
A control chart is to be established on a process producing refrigerators. As preliminary data, 16 nonconformities were counted in inspecting 30 refrigerators. Find the average run length if the...
-
Use the change of base rule to solve. Show all steps. l o g 0 . 5 ( 8 ) = x
-
(a) In Example 5.62, the n = 4 discrete Fourier coefficients of the function f(x) = 2 c - x2 were found to be real. Is this true when n = 16? For general n? (b) What property of a function f(x) will...
-
The text defined intrinsic value as the value of an asset given a hypothetically complete understanding of the assets investment characteristics. Discuss why hypothetically is included in the...
-
Evaluate the following statement: Managers should not focus on the current stock value because doing so will lead to an overemphasis on short-term profits at the expense of long-term profits.
-
Can our goal of maximizing the value of the stock conflict with other goals, such as avoiding unethical or illegal behavior? In particular, do you think subjects like customer and employee safety,...
-
Can our goal of maximizing the value of the stock conflict with other goals, such as avoiding unethical or illegal behavior? In particular, do you think subjects like customer and employee safety,...
-
Erica purchased a franchise agreement to distribute electronic gadgets for 6 years. The agreement cost $2,000,000 and he had to make investments of $825,000 for the first 2 years to set up his...
-
Erica purchased a franchise agreement to distribute electronic gadgets for 6 years. The agreement cost $2,000,000 and he had to make investments of $825,000 for the first 2 years to set up his...
-
Explain how you would rank the 5 C's of credit analysis in order of importance and explain your rankings? Character - The biggest thing is credibilty and banks knowing that the loan will be repaid....
Study smarter with the SolutionInn App