Dexter, Incorporated, had a cost of goods sold of $43,921. At the end of the year, theaccounts payable balance was $7,943. How long on average did it take the company topay off its suppliers during the year? (Use 365 days a year. Do not round intermediatecalculations and round your answer to 2 decimal places, e.g., 32.16.)

The payable turnover ratio is a financial ratio used to measure a company's efficiency in managing…

Answered: Dexter, Incorporated, had a cost of…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Dexter, Incorporated, had a cost of goods sold of $44,121. At the end of the year, the accounts payable balance was $8,143. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Dexter, Incorporated, had a cost of goods sold of $67, 882. At the end of the year, the accounts payable balance was $11,989. How long, on average, did it take the company to pay off its suppliers during the year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.
Question Hare, Inc., had a cost of goods sold of $43,921. At the end of the year, the accounts payable balance was $7,943. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.)
Dexter, Incorporated, had a cost of goods sold of $43,921. At the end of the year, the accounts payable balance was $7,943. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days' sales in payables 66.00 days
For the past year, Hawkeye, Inc., had a cost of goods sold of $63,882. At the end of the year, the accounts payable balance was $12,789. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Heritage, Inc., had a cost of goods sold of $68,314. At the end of the year, the accounts payable balance was $15,486. How long on average did it take the company to pay off its suppliers during the year? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Calculate Average Payables Periods For the first year, Hawkeye, Inc., has a cost goods sold of $95,318. At the end of the year, the accounts payable balance was $22,816. How long, on average, did it take the company to pay off its suppliers during the year? What might a large value for this ratio imply?
Blossom Technology's operating cycle is 71 days. Its inventory was $111,000 at the end of last year, and the company had cost of goods sold of $1.4 million. How long does it take Blossom to collect its receivables on average? (Use 365 days for calculation. Round intermediate calculations and final answer to 1 decimal place, e.g. 25.1.) It takes Blossom days to collect on its accounts receivable.
Chik’s Chickens has average accounts receivable of $5,533. Sales for the year were $9,000. What is its average collection period? (Use 365 days in a year. Do not round intermediate calculations. Round your answer to 2 decimal places.) Average collection period days
Chik’s Chickens has accounts receivable of $6,683. Sales for the year were $10,200. What is its average collection period? (Use 365 days in a year. Do not round intermediate calculations. Round your final answer to the nearest whole number.)
Sanders' Prime Time Lighting Co. has credit sales of $1,836,000 and accounts receivable of $224,400. Compute the value for the average collection period. (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to the nearest whole number.) Average collection period days
A company has net income of $195,000, a profit margin of 8.3 percent, and an accounts receivable balance of $134,370. Assuming 70 percent of sales are on credit, what is the company’s days’ sales in receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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