If the average age of inventory is 90 days, the average age of accounts payable is 50 days, and the average age of accounts receivable is 65 days, what is the number of days in the cash flow cycle for Harrison Corp? a) 215 days b) 105 days c) 90 days d) 75 days
If the average age of inventory is 90 days, the average age of accounts payable is 50 days, and the average age of accounts receivable is 65 days, what is the number of days in the cash flow cycle for Harrison Corp? a) 215 days b) 105 days c) 90 days d) 75 days
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...
Related questions
Question
General accounting question
Transcribed Image Text:If the average age of inventory is 90 days, the average age of
accounts payable is 50 days, and the average age of accounts
receivable is 65 days, what is the number of days in the cash flow
cycle for Harrison Corp?
a) 215 days
b) 105 days
c) 90 days
d) 75 days
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning