Using the Information Provided,what Is the Accounts Payable Turnover for the Firm

question 7

Multiple Choice

Using the information provided,what is the accounts payable turnover for the firm? Perfect Purchase Electronics
Selected Income Statement Items,2014
Cash Sales $1,500,000
Credit Sales $7,500,000
Total Sales $9,000,000
COGS $6,000,000
Perfect Purchase Electronics
Selected Balance Sheet Accounts
12/31/2014 12/31/2013 Change
Accounts Receivable $270,000 $240,000 $30,000
Inventory $125,000 $100,000 $25,000
Accounts Payable $110,000 $90,000 $20,000

• A)15 times
• B)60 times
• C)75 times
• D)90 times

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Financial penalties imposed by governmental agencies as punishment for violations of legal requirements or regulations.

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Rules established by environmental agencies that govern the handling, storage, treatment, and disposal of wastes that pose substantial or potential threats to public health or the environment.

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Toxic Substances Control Act

A United States law enacted in 1976 designed to regulate the introduction of new or already existing chemicals.