Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please tell the correct answer for days sales in inventory The 2023 financial statements of Outdoor Waterworks Inc. follow: Assume all sales were on credit.

please tell the correct answer for days sales in inventory image text in transcribed
image text in transcribed
image text in transcribed
The 2023 financial statements of Outdoor Waterworks Inc. follow: Assume all sales were on credit. Also assume the long-term note payable is due in 2026, with no current portion, On the December 31 . 2022 balance sheet, the assets totalled $436,720, common shares were $196,000, and retained earnings were $110,040. Required: Catculate the following: (Use 365 days in a year. Do not round your intermediate calculations. Round the onswers to 2 decimal places.)

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

Financial Accounting

Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thomas, W. Morley Lemon, Catherine Seguin, Sandra Robertson Lemon

4th Canadian Edition

0131384333, 9780131384330

More Books

Students also viewed these Accounting questions

Question

Find limit algebraically. lim (5.x*) X-

Answered: 1 week ago

Question

What are the purposes of performance appraisals?

Answered: 1 week ago