Calculate company accounts payable turnover

Assignment Help Financial Accounting
Reference no: EM133239534

Wardlow Sales, Inc. comparative income statements and balance sheets show the fallowing selected information for 2016 and 2017:

2017 2016

Cost of goods sold.. $2,700,000 $2,500,000Average accounts payable... S 300,000 $ 250,000Requirements

1. Calculate the company's accounts payable turnover and days payable outstanding (DPO) for 2016 and 2017.

2. On the basis of this computation alone, has the company's liquidity position improved or deteriorated during 2017?

Reference no: EM133239534

Questions Cloud

Discuss what areas of your social media activity reflect : Discuss what areas of your social media activity reflect Christian values as they relate to respecting human value and dignity for all individuals
What is amount of retained earnings : Berg Industries began 2021 with retained earnings balance of $736,000. During 2021, the firm earned $282,000 after taxes
Which risk area does fraudulent accounting best fit and why : If Enron's risk manager organized its ERM program into hazard, operational, financial, and strategic risks, which risk area does fraudulent accounting best fit
Average cash conversion cycle : What is the average cash conversion cycle for the En-Gene Company?
Calculate company accounts payable turnover : Calculate the company's accounts payable turnover and days payable outstanding (DPO) for 2016 and 2017.
Discuss the six models of managing change : Discuss the six models of managing change and which you think would work best in the KSA business environment and why
The bank statement : A cheque dated 15 June amounting to $2,300 was issued to a supplier but was not yet presented for payment by the supplier.
What is the best way you as a psychiatric mental health : The boy has no plan to hurt himself. What is the best way you as a Psychiatric mental health nurse practitioner respond to this situation
Partnership income after deducting bonus : MANSOUR, an active partner of Al Ahli Partnership receive an annual bonus of 25% of the partnership income after deducting the bonus.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What journal entry to record the reacquisition of the shares

XYZ uses the cost method to account for treasury shares. The journal entry to record the reacquisition of the shares should debit

  Annual comparative financial statement

Analyze a comparative annual financial statement of a domestic publicly-held corporation listed on either NASDAQ or the NYSE using internet sources not actually from a bank or financial institution.

  How is the inventory described

Your SEC 10-K company should have accounts receivable and inventory, How is the inventory described? Who owes money to your SEC 10-K company?

  What is the total amount of charitable donations

What is the total amount of charitable donations that can be claimed? Theo donated $79,000 to cancer research in 2019. He died at the end of 2019.

  How much do you need to invest every year

You want to retire in 15 years with $5 million in your account. You decide to invest using an ordinary annuity. How much do you need to invest every year

  What would you do to earn a riskless profit

If you find that the British Pound to New Zealand dollar exchange rate is 0.49 GBP/NZD, what would you do to earn a riskless profit

  Prepare an income statement for April

Transactions; financial statements - Prepare an income statement for April, a statement of stockholders' equity for April, and a balance sheet as of April 30

  What is the probability that a visit leads to buying car

25% buy a second-hand car and 30% buy a Japanese car. What is the probability that a visit leads to buying a second-hand Japanese car?

  Explain why income dropped if expenses decreased

Explain Why income dropped if expenses decreased. According to Panasonic Corp. income statement, it has operating expenses that decreased from 1,865,854,000.

  Discuss how are attitudes formed

Using some of these terms: social learning, unconditioned stimulus/conditioned stimulus, subliminal

  Prepare the company direct materials budget

Prepare the company's direct materials budget. The company expects to start the first quarter with 1,620 units in finished goods inventory.

  How will the payment affect the employee taxable earnings

How will the payment affect the employee taxable earnings? An employer pays health care expenses not covered under a group health plan directly

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd