Practice: XYZ Company had net sales of $500,000 and COGS of $320,000. If the beginning balance of AP was $60,000 and the ending balance in AP was $100,000, what is the AP Turnover ratio?
Subjects
All Chapters | |||||
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Ch. 1 - Introduction to Accounting | 1hr & 21mins | 0% complete | |||
Ch. 2 - Transaction Analysis | 1hr & 14mins | 0% complete | |||
Ch. 3 - Accrual Accounting Concepts | 2hrs & 38mins | 0% complete | |||
Ch. 4 - Merchandising Operations | 2hrs & 31mins | 0% complete | |||
Ch. 5 - Inventory | 1hr & 55mins | 0% complete | |||
Ch. 6 - Internal Controls and Reporting Cash | 1hr & 16mins | 0% complete | |||
Ch. 7 - Receivables and Investments | 3hrs & 17mins | 0% complete | |||
Ch. 8 - Long Lived Assets | 5hrs & 6mins | 0% complete | |||
Ch. 9 - Current Liabilities | 2hrs & 19mins | 0% complete | |||
Ch. 10 - Time Value of Money | 1hr & 27mins | 0% complete | |||
Ch. 11 - Long Term Liabilities | 2hrs & 45mins | 0% complete | |||
Ch. 12 - Stockholders' Equity | 2hrs & 15mins | 0% complete | |||
Ch. 13 - Statement of Cash Flows | 2hrs & 24mins | 0% complete | |||
Ch. 14 - Financial Statement Analysis | 5hrs & 27mins | 0% complete | |||
Ch. 15 - GAAP vs IFRS | 56mins | 0% complete |
Additional Practice |
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Ratios Cumulative Problems |
Practice: XYZ Company had net sales of $500,000 and COGS of $320,000. If the beginning balance of AP was $60,000 and the ending balance in AP was $100,000, what is the AP Turnover ratio?
Practice: ABC Company had $200,000 in Net Sales and Gross Profit of $80,000. If AP had a balance of $60,000, what is the AP Turnover ratio?
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