Assume the following is the current asset section from Intuit’s balance sheet. July 31 ($ 000s)...

Assume the following is the current asset section from Intuit’s balance sheet.

July 31 ($ 000s)	2016	2015
Cash and cash equivalents	$83,842	$125,992
Investments	910,416	991,971
Accounts receivable, net	86,125	81,615
Deferred income taxes	54,854	31,094
Prepaid expenses	99,275	62,792
Current assets of discontinued operations/td>	21,989	12,279
Funds held for payroll customers	357,838	323,041
Total current assets	1,614,339	1,528,784

Assume Intuit’s 2016 revenue was $2,038,000 thousand.

Compute days sales outstanding for 2016.

Select one:

a. 16.4 days

b. 29.9 days

c. 12.7 days

d. 15.0 days

Solutions

Expert Solution

Revenue for the year = $2,038,000

So, the Correct answer is Option (d) 15.0 DAYS

ekkarill92 answered 1 year ago

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