Question
Sunland Sports Equipment Company just reported the following financial information. Cash Assets Accounts receivable Inventories Total current assets Sunland Sports Equipment Company $848,000 2,310,000
Sunland Sports Equipment Company just reported the following financial information. Cash Assets Accounts receivable Inventories Total current assets Sunland Sports Equipment Company $848,000 2,310,000 1,575,000 $4,733,000 Liabilities and Equity Accounts payable Notes payable Total current liabilities Net sales Sales and Costs Cost of goods sold $1,890,000 2,843,000 $4,733,000 $12,127,500 $7,276,500 Calculate the firm's days' sales outstanding. (Use 365 days for calculation. Do not round intermediate calculations. Round answer to 1 decimal place, e.g. 15.1.) Days' sales outstanding days.
Step by Step Solution
3.33 Rating (150 Votes )
There are 3 Steps involved in it
Step: 1
Days sales outstanding shows how effective a business is in c...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get StartedRecommended Textbook for
Fundamentals of corporate finance
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
2nd Edition
978-0470933268, 470933267, 470876441, 978-0470876442
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App