Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. a company shows the following balances on its comp

A Company shows the following balances on its comparative financial statements: 2021 2020 Inventory $12,000...

70.2K

Verified Solution

Question

Finance

image
A Company shows the following balances on its comparative financial statements: 2021 2020 Inventory $12,000 $11,000 Accounts Receivable $6,300 $6,000 Accounts Payable $8,600 $8,200 The Company generates Net Sales of $100,000 of which 95% are on credit. Cost of goods sold is $65,000 Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations. Round the final answers to 2 decimal places. Do not include the word "days", but just your numerical answer.) Inventory period in days (round to 2 decimals) Receivable period in days (round to 2 decimals) Operating cycle in days (round to 2 decimals) Payables period in days (round to 2 decimals) The firm is financing its inventory for approximately days. (round to 2 decimals)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Calculus
1.2K views

Which function has the same range as f x 2 x 3 8 Og x...

Accounting
1.2K views

1.What is psychology...?2. What is psychological state/situation in auditing..?3. How could psychological state/situation be...1.What...

Medical Sciences
1.2K views

Explain why inborn defects of glycolytic metabolism kill MATURE red blood cells, leading to hemolytic anemia.....

Electrical Engineering
1.2K views

Consider a Si NPN BJT. Discuss how an change in one of the design parameters affect...

Finance
1.2K views

The University of California has two bonds outstanding. Both issues have the same credit rating, a...

Basic Math
1.2K views

1 point Compute the following sums using binary addition Do not use spaces in your...

Accounting
1.2K views

Packet problems 5 and 6 ; HW 57, 61 Astemplt \#5A...

Accounting
1.2K views

Pittman Company is a small but growing manufacturer of telecommunications equipment. The company has no...

Accounting
1.2K views

The Carrot Company sold extended warranties for its vacuum cleaners which it sold. The company...

Accounting
1.2K views

QUESTION 20 On March 31 a company needed to estimate its ending inventory to prepare...

Accounting
1.2K views

7. Assume a weekly payroll of $10,000 entirely subject to FICA and Medicare (7.65%), Federal...

Finance
1.2K views

4) Suppose the economy can be in one of the following two states: state 1...