Refer to the Simon Company information in Exercise 13-6. The company's income statements for the years ended
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(1) Days' sales uncollected,
(2) Accounts receivable turnover,
(3) Inventory turnover, and
(4) Days' sales in inventory.
Comment on the changes in the ratios from 2014 to 2015. (Round amounts to one decimal.)
In Exercise 13-6
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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