Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following table presents selected 2020 annual Income statement items and balance sheet Items for Toyota Motor and Apple. All figures are in millions.

image text in transcribed

The following table presents selected 2020 annual Income statement items and balance sheet Items for Toyota Motor and Apple. All figures are in millions. Use the Information to answer the questions that follow. Sales Cost of goods sold Accounts receivable Inventory Accounts payable Toyota X 28,738,788 Apple $281,015 24,652,364 176,059 8,722,065 22,620 2,441,418 10,561 2,440,788 48,796 a. Calculate the length of the operating cycle for Toyota and Apple. b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be Indicated by parentheses. Round your answers to 1 decimal place. a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota Apple 146.9 days 51.3 days days (49.9) days

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

ISE Analysis For Financial Management

Authors: Robert C. Higgins Professor, Jennifer Koski

13th International Edition

1265042632, 9781265042639

More Books

Students also viewed these Accounting questions

Question

1. What sort of design is this?

Answered: 1 week ago