Problem 18-6 Calculating Cycles [LO1] Consider the following financial statement information for the Newk Corporation: Item Inventory Accounts receivable Accounts payable Credit sales Beginning $ 11,100 6,100 8,300 Ending $ 12,100 6,400 8,700 $91,000 71,000 Cost of goods sold Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Operating cycle Cash cycle days days
Problem 18-6 Calculating Cycles [LO1] Consider the following financial statement information for the Newk Corporation: Item Inventory Accounts receivable Accounts payable Credit sales Beginning $ 11,100 6,100 8,300 Ending $ 12,100 6,400 8,700 $91,000 71,000 Cost of goods sold Calculate the operating and cash cycles. (Use 365 days a year. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Operating cycle Cash cycle days days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Problem 18-6 Calculating Cycles [LO1]
Consider the following financial statement information for the Newk Corporation:
Item
Inventory
Accounts receivable
Accounts payable
Credit sales
Beginning
$ 11,100
6,100
8,300
Ending
$ 12,100
6,400
8,700
$91,000
71,000
Cost of goods
sold
Calculate the operating and cash cycles. (Use 365 days a year. Do not round
intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Operating cycle
Cash cycle
days
days](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7cb78245-af08-4333-90a7-1fd428670c1e%2F59ce7642-7917-4d16-97e6-0d2a307b0b9b%2Fbdt8kmp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 18-6 Calculating Cycles [LO1]
Consider the following financial statement information for the Newk Corporation:
Item
Inventory
Accounts receivable
Accounts payable
Credit sales
Beginning
$ 11,100
6,100
8,300
Ending
$ 12,100
6,400
8,700
$91,000
71,000
Cost of goods
sold
Calculate the operating and cash cycles. (Use 365 days a year. Do not round
intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Operating cycle
Cash cycle
days
days
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