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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Question Z Full 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
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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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