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