Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
Passa Caglia Passa Caglia
wrote...
Go to Answer
Posts: 151
Rep: 0 0
9 months ago

Ribaudo Corporation has provided the following financial data from its balance sheet and income statement:

Year 2Year 1
Cash$ 74,000$ 130,000
Accounts receivable, net$ 255,000$ 240,000
Inventory$ 173,000$ 180,000
Total current assets$ 564,000$ 610,000
Total assets$ 1,350,000$ 1,330,000
Accounts payable$ 170,000$ 160,000
Total liabilities$ 633,000$ 620,000
Total stockholders' equity$ 717,000$ 710,000
Sales (all on account)$ 1,290,000
Cost of goods sold$ 700,000

The company’s average sale period for Year 2 is closest to: (Round your intermediate calculations to 2 decimal places.)



▸ 91.9 days

▸ 48.9 days

▸ 90.1 days

▸ 198.1 days
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
Read 59 times
1 Reply
Replies
Answer verified by a subject expert
cglotfeltycglotfelty
wrote...
#1
Posts: 118
Rep: 0 0
9 months ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

Passa Caglia Author
wrote...

9 months ago
Good timing, thanks!
kiara23247843
wrote...

Yesterday
Correct Slight Smile TY
sadiewolf
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1146 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 240
  
 345
  
 1576
Your Opinion
What's your favorite math subject?
Votes: 293
Previous poll results: Which 'study break' activity do you find most distracting?