Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. The relevant information of acorporation is showed as follows: Item Opening balance Closing balance Current amount or average Inventory 24,000,000 32, 000, 000

image

1. The relevant information of acorporation is showed as follows: Item Opening balance Closing balance Current amount or average Inventory 24,000,000 32, 000, 000 Current liabilities 20,000,000 Quick ratio 0.8 Current ratio Total asset turnover Total assets 30,000,000 1.8 1.5 120,000,000 Instructions: (1) Calculate the beginning and ending balance of the current assets of the corporation. (2) Calculate the current sales revenue of the corporation. (3) Calculate the average balance of current assets and current assets turnover of the corporation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Business Reporting For Decision Making

Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver

4th Edition

978-0730302414, 0730302415

More Books

Students also viewed these Accounting questions

Question

Given find the value of k. es 1 e kx dx = 1 4'

Answered: 1 week ago