Answered: ABC Company has annual sales of…

ABC Company has annual sales of $400,000 and cost of goods sold of $159,496. The accounts payable period is 44.48 days. What is the average accounts payable balance?

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

What is the average accounts payable balance?

ABC Company has annual sales of $400,000 and cost
of goods sold of $159,496. The accounts payable
period is 44.48 days. What is the average accounts
payable balance?

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