Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Consider the following financial statement information for the Ayala Corporation: Item Beginning Ending Inventory $ 11,600 $ 12,600 Accounts receivable 6,600 6,900 Accounts payable 8,800

Consider the following financial statement information for the Ayala Corporation:

Item Beginning Ending
Inventory $ 11,600 $ 12,600
Accounts receivable 6,600 6,900
Accounts payable 8,800 9,200
Credit sales $ 96,000
Cost of goods sold 76,000

Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your final answers to 2 decimal places, e.g., 32.16.)

Operating cycle days
Cash cycle days

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

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

Recommended Textbook for

Finance At 40 Financial Intelligence

Authors: MOIRA O'NEILL Moira O'Neill

1st Edition

1408101114, 978-1408101117

More Books

Students also viewed these Finance questions