Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 30, 2024

ABC Corp. had a quick ratio of 1.75, a current ratio of 3.2, a days' sales outstanding of 36.5 (based on a 365-day year), total

ABC Corp. had a quick ratio of 1.75, a current ratio of 3.2, a days' sales outstanding of 36.5 (based on a 365-day year), total current assets of $700,000, and cash and marketable securities of $80,000. What were ABC's annual sales?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

Recommended Textbook for

Glencoe Business And Personal Finance

Authors: McGraw-Hill

1st Edition

0021400202, 9780021400201

More Books

Students also viewed these Finance questions

Question

★★★★★

At the end of the current year, $8,140 of fees has been earned but has not been billed to clients. Journalize the adjusting entry to record the accrued fees.

Answered: 1 week ago

Question

★★★★★

=+13.50 If the sample correlation coefficient is equal to 1, is it necessarily true that r 5 1? If r 5 1, is it necessarily true that r 5 1?

Answered: 1 week ago

Question

★★★★★

1. Investigate graduate programs in either educational or school psychology. Once you find a program that fits your interests, identify a faculty member whose work appeals to you. Read a recent...

Answered: 1 week ago

Question

★★★★★

The following information was extracted from the December 31, 2011, current asset section of the balance sheets of four different companies: There were no transaction in short-term equity securities...

Answered: 1 week ago

Question

★★★★★

SQL database Given the following tables: Artist (Artist_10. Firat_Name, Last_Name. D00) Abum (Aibum,lD, Album_Name, Artist,1D \{FKTl? Seng (SID, Song_Name, Album_ID(FKW) Using aggregated function,...

Answered: 1 week ago

Question

★★★★★

Fred, Bob and Sue want to start a business. The business will involve the cleaning of offices. Fred has saved $25,000.00 to contribute towards the business. Bob has no money to contribute but has...

Answered: 1 week ago

Question

★★★★★

How many carbon,hydrogen and oxygen atoms/bonds are present in Buckminster Fullerene?

Answered: 1 week ago

Question

★★★★★

Define Management or What is Management?

Answered: 1 week ago

Question

★★★★★

What do you understand by MBO?

Answered: 1 week ago

Question

★★★★★

Arndt, Incorporated reported the following for 2024 and 2025 ($ In millions): Revenues Expenses 2024 $ 942 798 Pretax accounting income (income statement) Taxable income (tax return) $ 144 $ 102 2025...

Answered: 1 week ago

Question

★★★★★

What is meant by planning or define planning?

Answered: 1 week ago

Question

★★★★★

Identify ways to increase your selfesteem.

Answered: 1 week ago

Question

★★★★★

1. If Ms. Perez displays the characteristics of the Director communication style, how should Eric conduct himself during the meeting? Be specific as you analyze those behaviors that would be admired...

Answered: 1 week ago

Question

★★★★★

2. Lets assume you are a marketing representative for the Southwestern Region of the American Red Cross. You plan to schedule separate meetings with Gates and Ballmer to solicit major funding for...

Answered: 1 week ago

Previous Question Next Question