Fundamental Accounting Principles
Fundamental Accounting Principles
24th Edition
ISBN: 9781260158595
Author: Wild
Publisher: MCG
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Chapter 7, Problem 1AA
To determine

Concept Introduction:

Days Payable outstanding (DPO):

Days payable outstanding is the time in days which the company takes to pay off its accounts payable. Day's payable outstanding is calculated using the following follows:

  Days payable outstanding = (Accounts Payable * 365)Cost of Sales 

Requirement-1:

Amount of accounts payable reported by Apple Inc as on Sept. 30, 2017 and Sept. 24, 2016

To determine

Concept Introduction:

Days Payable outstanding (DPO):

Days payable outstanding is the time in days which the company takes to pay off its accounts payable. Day's payable outstanding is calculated using the following follows:

  Days payable outstanding = (Accounts Payable * 365)Cost of Sales 

Requirement-2:

To calculate:

The Days Payable Outstanding of Apple Inc as on Sept. 30, 2017 and Sept. 24, 2016

To determine

Concept Introduction:

Days Payable outstanding (DPO):

Days payable outstanding is the time in days which the company takes to pay off its accounts payable. Day's payable outstanding is calculated using the following follows:

  Days payable outstanding = (Accounts Payable * 365)Cost of Sales 

Requirement-3:

If apple is making early payments to its supplier in the year ending as on Sept. 30, 2017 as compared with year ending on Sept. 24, 2016

Blurred answer

Chapter 7 Solutions

Fundamental Accounting Principles

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