Question
The Controller of Company has gathered the ff: Beginning Ending Inventory P6,400.00 P7,600.00 Accounts receivable 2,140.00 3,060.00 Accounts payable 3,320.00 3,680.00 Total sales were P85,900.00,
The Controller of Company has gathered the ff:
Beginning Ending
Inventory P6,400.00 P7,600.00
Accounts receivable 2,140.00 3,060.00
Accounts payable 3,320.00 3,680.00
Total sales were P85,900.00, of which P62,400.00 were credit sales. COGS is P24,500.00. Compute for the Companys payables turnover ratio for the year
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Auditing The Procurement Function The Iia Research Foundation Handbook Series
Authors: David O Regan, CIA, FCA
1st Edition
0894136224, 978-0894136221
