Brightridge Supplies had purchases on credit totaling $1,200,000 during the year. At the beginning of the year, its accounts payable balance was $150,000, and at the end of the year, it was $130,000. What is the accounts payable turnover ratio for the year?

Brightridge Supplies had purchases on credit totaling $1,200,000 during the year. At the beginning of the year, its accounts payable balance was $150,000, and at the end of the year, it was $130,000. What is the accounts payable turnover ratio for the year?

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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Can you solve this general accounting problem with appropriate steps and explanations?

Brightridge Supplies had purchases on credit totaling
$1,200,000 during the year. At the beginning of the year, its
accounts payable balance was $150,000, and at the end of
the year, it was $130,000.
What is the accounts payable turnover ratio for the year?

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