Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Average accounts payable cycle. Use the following account information for Rian Company 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $38,000 $55,000

image text in transcribed

image text in transcribed

Average accounts payable cycle. Use the following account information for Rian Company 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 $38,000 $55,000 $27,000 12/31/13 $46,000 $59,000 Change $8,000 $4,000 Accounts receivable Accounts payable 25,000 $2,000 2014 Selected Income Statement Items for Rian Company Cash sales Credit sales Total sales Cost of ooods sold $570.000 What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts he same)? $298,000 $672,000 $970,000 (Round to the nearest dollar)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Finance For Nonfinancial Managers

Authors: Gene Siciliano

2nd Edition

0071824367, 978-0071824361

More Books

Students also viewed these Finance questions

Question

What are the components of an ANOV table?

Answered: 1 week ago

Question

Identify ways to increase your selfesteem.

Answered: 1 week ago