Question
A company had a liquid ratio of 1.5 and a current ratio of 2 and an inventory turnover ratio of 6 times. It had total
A company had a liquid ratio of 1.5 and a current ratio of 2 and an inventory turnover ratio of 6 times. It had total current assets of Rs 800000. What is the annual sales if goods are sold at 25% profit on cost?
Step by Step Solution
3.36 Rating (146 Votes )
There are 3 Steps involved in it
Step: 1
Current ratio CACL CACL 2 CL CA2 8Lakhs2 4lakhs Liquid Ratio liquid ...
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
