Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X The account balances of Delta Co. as at 31 December 2019, are presented below. 1. Equipment 15,000 2. Sales Revenue 50,000 3. Inventory 10,000

image text in transcribed
X The account balances of Delta Co. as at 31 December 2019, are presented below. 1. Equipment 15,000 2. Sales Revenue 50,000 3. Inventory 10,000 4. Accounts receivables 26,000 5. Long-term Loan 30,000 6. Accounts Payables 9,000 7. Property 15,000 8. Bank Overdraft 30,000 9. Cash 50,000 10. Gross profit 10,000 11. Net profit 5,000 12. Operating profit 8,000 What is the inventories turnover period? A 146 days B 183.5 days 73 days 91.25 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

The New Yellow Book Government Auditing Standards

Authors: Rebecca A. Meyer

1st Edition

1119784638, 978-1119784630

More Books

Students also viewed these Accounting questions

Question

Define responsibility accounting.

Answered: 1 week ago