If the accounts payable turnover is 5.2, what is the days' payable outstanding? (Round your answer...
If the accounts payable turnover is 5.2, what is the days' payable outstanding? (Round your answer to the nearest day.)
A. 70 days.
B. 60 days
C. 57 days.
D. 20 days.
Homework Answers
days' payable outstanding=365/accounts payable turnover
=365/5.2
which is equal to
=70 days.(Approx).
Add Answer to:
If the accounts payable turnover is 5.2, what is the days'
payable outstanding? (Round your answer...
My chosen answer is wrong. I know I have to use the accounts payable turnover formula and the turnover expressed in days...
My chosen answer is wrong. I
know I have to use the accounts payable turnover formula and the
turnover expressed in days formula. The formulas are:
Accounts payable turnover (T/O) = Purchases from suppliers
(assumed all on credit) ÷ Average accounts payable
Turnover expressed in days = 365 ÷ T/O (computed from the
formula above)
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My chosen answer is wrong. I
know I have to use the accounts payable turnover formula and the
turnover expressed in days formula. The formulas are:
Accounts payable turnover (T/O) = Purchases from suppliers
(assumed all on credit) ÷ Average accounts payable
Turnover expressed in days = 365 ÷ T/O (computed from the
formula above)
A company reports Cost of Goods Sold of $275,000, Ending Inventory of $120,000, Beginning Inventory of $15,000, Ending Accounts Payable of $110,000 and Beginning Accounts...
Total assets turnover: 1.2x Days sales outstanding: 30.5 daysa Inventory turnover ratio: 4x Fixed assets turnover: 3x Current ratio: 2x Gross profit margin on sales: (Sales - Cost of goods sold)/Sales = 15% Calculation is based on a 365-day year. Do not round intermediate calculations. Round your answer to the nearest cent. Balance Sheet Cash Current liabilities Accounts receivable Long-term debt 68,750 Inventories Common stock Fixed assets Retained earnings 82,500 Total assets $275,000 Total liabilities and equity Sales Cost of...
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