Question
1. Assume a firm has a cash cycle of 73 days and an operating cycle of 127 days. What is its payables turnover? (Use 365
1. Assume a firm has a cash cycle of 73 days and an operating cycle of 127 days. What is its payables turnover? (Use 365 days a year. Round your answer to 2 decimal places.)
2. Suppose a firm has had the following historic sales figures.
| Year: | 2012 | 2013 | 2014 | 2015 | 2016 |
| Sales | $2,400,000 | $2,650,000 | $2,300,000 | $2,900,000 | $2,500,000 |
What would be the forecast for next years sales using the average approach?
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Contemporary Auditing Real Issues And Cases
Authors: Michael Chris Knapp
9th International Edition
1133187900, 978-1133187905
