Holiday Corporation provided these figures for the year ended December 31,20xx: Cost of goods sold,$516,117; change in inventory,$67,483 decrease; average accounts payable,$52,529.
What is the company's payables turnover? Round your answer to one decimal place.
A) 9.1 times
B) 8.5 times
C) 10.9 times
D) 8.0 times
Correct Answer:
Verified
Q101: A quick ratio that is much smaller
Q102: Which of the following describes the return
Q105: What is the effect of the payment
Q106: Following are the financial statements for
Q109: The receivable turnover and inventory turnover ratios
Q112: A change from FIFO to LIFO in
Q112: Following are the financial statements for
Q115: Which of the following best describes the
Q116: Which of the following describes the asset
Q117: Assuming that the current ratio was 1.6
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents