Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sales 2 , 9 0 0 , 0 0 0 6 0 0 , 0 0 0 9 0 0 , 0 0 0 8

Sales 2,900,000600,000900,000800,000600,000
% Debtors Sales 50%50%50%50%
Total Debtors 100%300,000450,000400,000300,000
Current 65%195,000292,500260,000195,000
30 days 20%60,00090,00080,00060,000
60 days 12%36,00054,00048,00036,000
90 days 3%9,00013,50012,0009,000
Based on the table above calculate 1. The average debtor days 2. The average creditor days 3. The average stock turnover Please show all calcuations and results

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

Survey of Accounting

Authors: Paul D. Kimmel, Jerry J. Weygandt

1st edition

1119330025, 978-1119444244, 1119444241, 978-1119306474, 1119306477, 978-1119330028

More Books

Students also viewed these Accounting questions