Simeon Company's balance sheet accounts follow. The company's income statements for the years ended December 31, 2009
Question:
The company's income statements for the years ended December 31, 2009 and 2008, follow. Assume that all sales are on credit.
Required:
1. Compute days' sales uncollected. (Round your answer to 1 decimal place.)
2009 ____________days
2008 ____________days
2. Compute accounts receivable turnover. (Round your answer to 1 decimal place.)
2009 ____________times
2008 ____________times
3. Compute inventory turnover. (Round your answer to 1 decimal place.)
2009 ____________times
2008 ____________times
4. Compute days' sales in inventory. (Round your answer to 1 decimal place.)
2009 ____________days
2008____________days
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
Question Posted: