Using the following data, compute number of days purchases in accounts payable. Accounts payable, December 31, year
Question:
Using the following data, compute number of days’ purchases in accounts payable.
Accounts payable, December 31, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 52,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 358,000
Accounts payable, January 1, year 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000
Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 364,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Average Accounts Payable 52000 ...View the full answer
Answered By
Muhammad adeel
I am a professional Process/Mechanical engineer having a vast 7 years experience in process industry as well as in academic studies as a instructor. Also equipped with Nebosh IGC and lead auditor (certified).
Having worked at top notch engineering firms, i possess abilities such as designing process equipment, maintaining data sheets, working on projects, technical biddings, designing PFD and PID's etc.
Having worked as an instructor in different engineering institutes and have been involved in different engineering resrearch projects such as refinery equipment designing, thermodynamics, fluid dynamics, chemistry, rotary equipment etc
I can assure a good job within your budget and time deadline
52+ Reviews
60+ Question Solved
Related Book For 
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
Question Posted:
