Chapter 1, Problem 6EYCT

Accounting problem with quick

I am searching for a clear explanation of this financial accounting problem with valid methods.

What is the answer?

At the end of the current year, the owners'equity in Beacon Co. is now $425,000. During the year, the assets of the business had increased by $93,000 and the liabilities had increased by $156,000. What must Owners' equity at the beginning of the year have been?

Quick answer

Please provide the accurate answer to this general accounting problem using valid techniques.

Please explain the solution to this general accounting problem with accurate principles.

Management is considering the following independent courses of action to increase net income

The Riverfront has sales of $875,600, costs of goods sold of $623,800, inventory of $152,700, and accounts receivable of $85,400. How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit? A) 79.52 days B) 89.25 days C) 82.94 days D) 91.45 days E) 80.31 days