Sales for the year were $84,000 and cost of goods sold were $67,200. The balance sheet...
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Sales for the year were $84,000 and cost of goods sold were $67,200. The balance sheet at the end of the year is given below: Assets Cash 10,000 Accounts receivable 6,000 Inventory 27,000 Current assets 43,000 Machines 34,000 80,000 Real estate Net fixed assets Total assets 114,000 157,000 Part 1 What is the firm's days' sales in inventory? Liabilities and Equity Accounts payable Current liabilities Long-term debt 16,000 16,000 95,000 111,000 20,000 26,000 Equity 46,000 Total liab. & equity 157,000 Total liabilities Paid-in capital Retained earnings Attemp Part 2 What is the firm's days' sales in receivables? Sales for the year were $84,000 and cost of goods sold were $67,200. The balance sheet at the end of the year is given below: Assets Cash 10,000 Accounts receivable 6,000 Inventory 27,000 Current assets 43,000 Machines 34,000 80,000 Real estate Net fixed assets Total assets 114,000 157,000 Part 1 What is the firm's days' sales in inventory? Liabilities and Equity Accounts payable Current liabilities Long-term debt 16,000 16,000 95,000 111,000 20,000 26,000 Equity 46,000 Total liab. & equity 157,000 Total liabilities Paid-in capital Retained earnings Attemp Part 2 What is the firm's days' sales in receivables?
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Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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