Question
12. West Highland Clothiers reported the following items at August 31, 2012 (amounts in thousands, with last years2011amounts also given as needed): Requirement R1. Compute
12. West Highland Clothiers reported the following items at August 31, 2012 (amounts in thousands, with last years2011amounts also given as needed): Requirement R1. Compute West Highlands (a) acid-test ratio and (b) days sales in average receivables for 2012. Evaluate each ratio value as strong or weak. West Highland sells on terms of net 30.
Accounts payable- $380
Cash-$250
Inventories
8-31-12- $260
8-31-11-$220
Net sales revenue-$2,555
Long-term assets-$360
long term liabilities-$80
Accounts receivable, net:
8-31-12-$20
8-31-11-$110
cost of goods sold-$1,160
short term investments-$170
Other current assets-$50
other current liabilities-$160
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Development Of Audit Findings Of A National Survey Of Healthcare Provider Units In England Evaluating Medical Audit
Authors: Yvette, Buttery
1st Edition
1898845018, 978-1898845010
