The following data is available for Tommy's Toys for the years 2014 through 2017: Required:
A.Calculate the accounts payable turnover ratio for the following years:

B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):

C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

Question

The following data is available for Tommy's Toys for the years 2014 through 2017:  Required: 
A.Calculate the accounts payable turnover ratio for the following years:
  
B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
  
C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

Quizplus · Accepted Answer

The Answer of The following data is available for Tommy's Toys for the years 2014 through 2017:  Required: 
A.Calculate the accounts payable turnover ratio for the following years:
  
B.Calculate the number of days it is taking Tommy's Toys to pay its vendors (assume a 365-day year):
  
C.Explain whether Tommy's Toys is doing a better job over the years of paying its vendors in a timely manner.

The Following Data Is Available for Tommy's Toys for the Years