Question AFull explain this question and text typing work only We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line. Sales for the year were $77,000 and cost of goods sold were $61,600.The balance sheet at the end of the year is given below:AssetsCash13,00016,000Accounts receivable 7,00016,00034,00095,00054,000Total liabilities111,00034,000Paid-in capital20,00080,000Retained earnings37,000114,000Equity57,000168,000 Total liab. & equity 168,000InventoryCurrent assetsMachinesReal estateNet fixed assetsTotal assetsPart 1What is the firm's days' sales in inventory?0+ decimalsLiabilities and EquityAccounts payableCurrent liabilitiesLong-term debtPart 2What is the firm's days' sales in receivables?1+ decimals

Accounts receivable means the amount which is due from the customers. These are current assets which…

Sales for the year were $77,000 and cost of goods sold were $61,600. The balance sheet at the end of the year is given below: Assets Cash 13,000 Accounts receivable 7,000 Inventory 34,000 Current assets 54,000 Machines 34,000 80,000 114,000 168,000 Real estate Net fixed assets Total assets Part 1 What is the firm's days' sales in inventory? 0+ decimals Liabilities and Equity Accounts payable Current liabilities Long-term debt 1+ decimals 16,000 16,000 95,000 Total liabilities 111,000 Paid-in capital 20,000 Retained earnings 37,000 Equity 57,000 Total liab. & equity 168,000 Part 2 What is the firm's days' sales in receivables?

Sales for the year were $77,000 and cost of goods sold were $61,600. The balance sheet at the end of the year is given below: Assets Cash 13,000 Accounts receivable 7,000 Inventory 34,000 Current assets 54,000 Machines 34,000 80,000 114,000 168,000 Real estate Net fixed assets Total assets Part 1 What is the firm's days' sales in inventory? 0+ decimals Liabilities and Equity Accounts payable Current liabilities Long-term debt 1+ decimals 16,000 16,000 95,000 Total liabilities 111,000 Paid-in capital 20,000 Retained earnings 37,000 Equity 57,000 Total liab. & equity 168,000 Part 2 What is the firm's days' sales in receivables?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company has, among other things, the following items in its annual report:Net sales SEK 25,500,000Other income SEK 100,000Inventory 6,500,000 secCash and Bank 500,000 secReceivables 2,000,000 secShort-term investments SEK 500,000Personnel costs SEK 11,500,000Fixed assets SEK 3,300,000Long-term liabilities SEK 5,800,000Calculate the company's capital turnover rate. NOTE! Round to two decimal places! For example, the number 15.54678 would be 15.55 or 2.68512 would be 2.69.
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