The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Apple Sales Cost of goods sold Accounts receivable Toyota ¥ 31,097,245 24,662,364 8,723,065 $ 281,515 176,559 23,120 11,061 Inventory Accounts payable 2,441,918 2,450,980 a. Calculate the length of the operating cycle for Toyota and Apple. 49,296 b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota days days Apple days days
The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All figures are in millions. Use the information to answer the questions that follow. Apple Sales Cost of goods sold Accounts receivable Toyota ¥ 31,097,245 24,662,364 8,723,065 $ 281,515 176,559 23,120 11,061 Inventory Accounts payable 2,441,918 2,450,980 a. Calculate the length of the operating cycle for Toyota and Apple. 49,296 b. Calculate the length of the cash conversion cycle for Toyota and Apple. Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place. a. operating cycle cash conversion cycle b. cash conversion cycle conversion cycle Toyota days days Apple days days
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter12: Fainancial Statement Analysis
Section: Chapter Questions
Problem 59BE
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![The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All
figures are in millions. Use the information to answer the questions that follow.
Apple
Sales
Cost of goods sold
Accounts receivable
Toyota
¥ 31,097,245
24,662,364
8,723,065
$ 281,515
176,559
23,120
11,061
Inventory
Accounts payable
2,441,918
2,450,980
a. Calculate the length of the operating cycle for Toyota and Apple.
49,296
b. Calculate the length of the cash conversion cycle for Toyota and Apple.
Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.
a. operating cycle cash conversion cycle
b. cash conversion cycle conversion cycle
Toyota
days
days
Apple
days
days](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5da679a4-7c84-4cf4-ad60-4519aefcc430%2Fe4dccbf9-f814-456a-a3d4-af780b1f80dc%2F4q3hinm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table presents selected 2020 annual income statement items and balance sheet items for Toyota Motor and Apple. All
figures are in millions. Use the information to answer the questions that follow.
Apple
Sales
Cost of goods sold
Accounts receivable
Toyota
¥ 31,097,245
24,662,364
8,723,065
$ 281,515
176,559
23,120
11,061
Inventory
Accounts payable
2,441,918
2,450,980
a. Calculate the length of the operating cycle for Toyota and Apple.
49,296
b. Calculate the length of the cash conversion cycle for Toyota and Apple.
Note: Negative value should be indicated by parentheses. Round your answers to 1 decimal place.
a. operating cycle cash conversion cycle
b. cash conversion cycle conversion cycle
Toyota
days
days
Apple
days
days
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