Reynaldo Company Has Current Assets of $115,000 and Current Liabilities

question 12

Essay

Reynaldo Company has current assets of $115,000 and current liabilities of $75,000 of which accounts payable are $65,000.Reynaldo's cost of goods sold is $420,000,its merchandise inventory increased by $20,000,and accounts payable were $45,000 the prior year.Calculate Reynaldo's working capital,payables turnover,and days' payable.

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Definitions:

Physicians

Highly trained professionals who diagnose and treat diseases, disorders, and injuries, providing a wide range of healthcare services.

CD-R Technology

A type of digital optical disc storage format that allows users to record data once and read it multiple times.

Leasing Office Equipment

The process of renting office equipment, such as printers and computers, for a specified period.

Tax-Deductible

Pertaining to expenses that can be subtracted from gross income to reduce the amount of income that is subject to income tax.