Recent Posts • Latest Topics • Unanswered Questions

Phelps Piping Company manufactures PVC pipe. The company has provided the following selected ...

ang359

wrote...

Go to Answer

Posts: 147

Rep:

A year ago

Phelps Piping Company manufactures PVC pipe. The company has provided the following selected ...

Phelps Piping Company manufactures PVC pipe. The company has provided the following selected financial information:

2020

2021

Accounts receivable	$ 70,000	$ 50,000
Inventory	80,000	70,000
Total current assets	220,000	250,000
Total assets	580,000	460,000
Current liabilities	40,000	30,000
Total liabilities	150,000	207,000
Net credit sales	360,000	420,000
Cost of goods sold	270,000	315,000
Net income	56,000	62,000

Required:

a.	What is Phelps' average days to sell inventory for 2021?

b.	What is Phelps' debt ratio for 2021?

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

Read 27 times

1 Reply

Report

Replies

Answer verified by a subject expert

lpants

wrote...

Posts: 116

Rep:

A year ago

More solutions for this book are available here

Report

Related Topics

ang359 Author

wrote...

A year ago

This calls for a celebration Person Raising Both Hands in Celebration

TAT1238

wrote...

Yesterday

You make an excellent tutor!

cipcal

wrote...

2 hours ago

Correct

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1072 People Browsing

128 Signed Up Today

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

288

335

Your Opinion

Previous poll results: Does a gender wage gap exist in America?

Courses by Biology Forums

Strange Ingredients Lurking in Doritos Chips

The Toxic Skin and Fungi Defense

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.