Accounts payable turn over ratio

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Reference no: EM13258250

a. In 2004, The Coca-Cola Company reported current assets of$12,094 million, total assets of $31,327 million, currentliabilities of $10,971 million, and total liabilities of $15,392million. What was their current ratio for 2004?

The following is a partial list of account balances from thebooks of Probst Enterprise at the end of 2009:

AccountsPayable $20,500
AccountsReceivable 12,300
Accrued VacationLiability 1,200
Cash 6,500
DeferredRevenue 1,300
Income TaxesPayable 1,900
Notes Payable (due in 2years) 10,000

b. Based solely upon thesebalances, the amount of current liabilities appearing onProbst's 2009 year-end balance sheet should be ?

c. Landry's Restaurants reported cost of goods sold of $322 million and accounts payable of $83 million for 2003. In2002, cost of goods sold was $258 million and accounts payable was $72 million. What was Landry's accounts payable turn over ratio in 2003?

d. On September 1, 2006, Donna Equipment signed a one-year, 8% interest-bearing note payable for $50,000. Assuming that Donna maintains its books on a calendar year basis, the amount of interest expense that should be reported in the 2007 income statement for this note (rounded to the nearest dollar) would be?

Reference no: EM13258250

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