Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please show steps/work with formulas or excel Average accounts payable cycle. Use the following account information for Rian Company Click on the icon in order

image text in transcribed

Please show steps/work with formulas or excel

Average accounts payable cycle. Use the following account information for Rian Company Click on the icon in order to copy its content into a spreadsheet 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Accounts receivable $39,336 $47,549 Inventory $58,475 $62,632 Accounts payable $28,981 $27,016 Change $8,213 $4,157 $1,965 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales $451,000 Credit sales $563,000 GDDED What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)? (Round to the nearest dollar) Average accounts payable cycle. Use the following account information for Rian Company Click on the icon in order to copy its content into a spreadsheet 2013 and 2014 Selected Balance Sheet Accounts of Rian Company 12/31/14 12/31/13 Accounts receivable $39,336 $47,549 Inventory $58,475 $62,632 Accounts payable $28,981 $27,016 Change $8,213 $4,157 $1,965 Click on the icon in order to copy its content into a spreadsheet 2014 Selected Income Statement Items for Rian Company Cash sales $451,000 Credit sales $563,000 GDDED What would the ending balance in the accounts payable account for 2014 have needed to be to reach this target (holding all other accounts the same)? (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

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

All About Options

Authors: Thomas McCafferty

3rd Edition

0071484795, 978-0071484794

More Books

Students also viewed these Finance questions

Question

b. Why were these values considered important?

Answered: 1 week ago