Consider the following financial statement information for the Zacee Corporation
ID: 2716318 • Letter: C
Question
Consider the following financial statement information for the Zacee Corporation for 2013:
Items
Beginning
Ending
Inventory
$7,708
$7,866
Accounts Receivable (A/R)
$87,309
$92,819
Accounts Payable (A/P)
$19,531
$20,035
Credit Sales
$144,077
Cost of Goods Sold (COGS)
$126,215
What are the annual average of the inventory, accounts receivable, and accounts payable?
$7,866; $92,819; $20,035
$7,708; $87,309; $19,531
$7,708; $87,309; $19,783
$7,787; $92,819; $20,035
$7,787; $90,064; $19,783
Items
Beginning
Ending
Inventory
$7,708
$7,866
Accounts Receivable (A/R)
$87,309
$92,819
Accounts Payable (A/P)
$19,531
$20,035
Credit Sales
$144,077
Cost of Goods Sold (COGS)
$126,215
Explanation / Answer
Solution :
Items
Beginning
Ending
Average
(Begining + ending)/2
Inventory
7,708
7,866
7,787
Accounts Receivable (A/R)
87,309
92,819
90,064
Accounts Payable (A/P)
19,531
20,035
19,783
Items
Beginning
Ending
Average
(Begining + ending)/2
Inventory
7,708
7,866
7,787
Accounts Receivable (A/R)
87,309
92,819
90,064
Accounts Payable (A/P)
19,531
20,035
19,783
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