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Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.) Year
Refer to the following selected financial information from McCormik, LLC. Compute the company's days' sales uncollected for Year 2. (Use 365 days a year.)
Year 2 | Year 1 | |||||
Cash | $ | 38,800 | $ | 33,550 | ||
Short-term investments | 103,000 | 66,500 | ||||
Accounts receivable, net | 92,000 | 86,000 | ||||
Merchandise inventory | 127,500 | 131,500 | ||||
Prepaid expenses | 13,400 | 11,000 | ||||
Plant assets | 394,500 | 344,500 | ||||
Accounts payable | 106,900 | 114,300 | ||||
Net sales | 717,500 | 682,500 | ||||
Cost of goods sold | 396,500 | 381,500 | ||||
Multiple Choice
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52.4.
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45.2.
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46.8.
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117.4.
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84.7.
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