College Accounting, Chapters 1-15
College Accounting, Chapters 1-15
23rd Edition
ISBN: 9781337794763
Author: HEINTZ, James A.
Publisher: Cengage Learning,
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Chapter 23, Problem 4MC
To determine

Classify the payment of a cash dividend to stockholders as operating, investing, or financing activities of statement of cash flows.

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Your boss asks you to compute the company's cash conversion cycle. Looking at the financial statements, you see that the average inventory for the year was $157,800, accounts receivable were $128,500, and accounts payable were at $143,600. You also see that the company had sales of $412,000 and that cost of goods sold was $346,000. What is your firm's cash conversion cycle? Round to the nearest day.
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Chapter 23 Solutions

College Accounting, Chapters 1-15

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