Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Assume the following is the current asset section from Intuits balance sheet. July 31 ($ 000s) 2016 2015 Cash and cash equivalents $83,842 $125,992 Investments

Assume the following is the current asset section from Intuits balance sheet.

July 31 ($ 000s) 2016 2015
Cash and cash equivalents $83,842 $125,992
Investments 910,416 991,971
Accounts receivable, net 86,125 81,615
Deferred income taxes 54,854 31,094
Prepaid expenses 99,275 62,792
Current assets of discontinued operations/td> 21,989 12,279
Funds held for payroll customers 357,838 323,041
Total current assets 1,614,339 1,528,784

Assume Intuits 2016 revenue was $2,038,000 thousand.

Compute days sales outstanding for 2016.

Select one:

a. 16.4 days

b. 29.9 days

c. 12.7 days

d. 15.0 days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions