2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $36.909 Accounts receivable Inventory Accounts...

 

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2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $36.909 Accounts receivable Inventory Accounts payable $52,460 $26,080 12/31/13 $44,377 $55,730 $24,178 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales Credit sales $374,000 $550,000 $924,000 Total sales Cost of goods sold $540,931 Change $7,468 $3,270 $1,902 Rian Company had set a target of 15.2 days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)? What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)? 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $36.909 Accounts receivable Inventory Accounts payable $52,460 $26,080 12/31/13 $44,377 $55,730 $24,178 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales Credit sales $374,000 $550,000 $924,000 Total sales Cost of goods sold $540,931 Change $7,468 $3,270 $1,902 Rian Company had set a target of 15.2 days for its payment (accounts payable) cycle. What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)? What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)?

Answer rating: 100% (QA)

To determine the ending balance in the accounts payable account for 2014 that would be needed to rea... View the full answer