Hobin Company has cash of $20,000, short-term investments of $25,000, net accounts receivable of $45,000, inventory of

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Hobin Company has cash of $20,000, short-term investments of $25,000, net accounts receivable of $45,000, inventory of $44,000, accounts payable of $60,000, and net sales of $360,000. Last year's net accounts receivable were $35,000. Hobin has no current liabilities other than accounts payable.

Compute the following ratios: quick ratio, receivable turnover, and average days' sales uncollected. SE-2

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Financial Accounting

ISBN: 9780618310746

8th Edition

Authors: Belverd E. Needles Jr,, Marian Powers

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