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Category > Business & Finance Posted 15 Jul 2017 My Price 8.00

The Operating Cycle and Cost Cycle

The Operating Cycle and Cost Cycle

1. On Eastern Printing Machines Co.’s income statement of 20X1, the cost of goods sold and the credit sales are $200 million and $240 million, respectively. The following data are from its balance sheets.

($ millions)
 

Dec. 31, 20X1

Dec. 31, 20X2

Inventory

$40

$60

Accounts receivable

30

50

Accounts payable

10

30

a. How many days is Eastern Printing Machines’ operating cycle?

b. How many days is Eastern Printing Machines’ cash cycle?

27.6 Define:

a. Operating cycle

b. Cash cycle

c. Accounts payable period

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Status NEW Posted 15 Jul 2017 09:07 AM My Price 8.00

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