Selected financial information is available at July 31 for Drew Co. a. Calculate (1) working capital, (2)

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Selected financial information is available at July 31 for Drew Co.

a. Calculate (1) working capital, (2) the current ratio, and (3) the acid test ratio for 2020 and 2021.

b. Indicate whether there was an improvement or deterioration in liquidity for Drew in 2021.

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Accounting Principles Volume 1

ISBN: 978-1119502425

8th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Feb 21, 2020 11:01 AM

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Selected financial information is available at July 31 for Drew Co. a. Calculate (1) working capital, (2)

Question:

2021 Cash and accounts receivable Current assets Current liabilities $22,680 35,100 24,460 2020 $20,430 33,510 24,800

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a 1 Working capital Current assets Current liabilities Work...View the full answer

Accounting Principles Volume 1

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