Anderson co on sept 1 2006 signed a one year 8interest

Reference no: EM13615081

Anderson co reported cost of goods sold of $322 million andaccounts payable of $83 million for 2003. In 2002, cost of goodssold was $258 million and accounts payable was $72 million.

a. Whats is their accounts payable turnover ratio for 2003?

b. Anderson co on sept 1, 2006 signed a one year 8%interest bearing note payable for $50,000. assuming they maintainits books on a calendar year basis. the amount of interest expensethat should be reported in 2007 income statement for this notewould be?

c, in 2004 coke reported an increase in accounts receivable of80 million and an increase in inventory of 168 million. they alsoexperience an increase in accounts payable of 225 million and adecrease in accrued income taxes payable of 225 million. calculate net cash effect in decrease?

Reference no: EM13615081

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