Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Calculate the ratios for the following problem (answer in the yellow): 12/31/20x5 12/31/20x4 12/31/20x3 Assets: Cash $ 1,120,000 $ 990,000 Accounts Receivable 156,000 176,000 350,000
Calculate the ratios for the following problem (answer in the yellow):
| 12/31/20x5 | 12/31/20x4 | 12/31/20x3 | |
| Assets: | |||
| Cash | $ 1,120,000 | $ 990,000 | |
| Accounts Receivable | 156,000 | 176,000 | 350,000 |
| Marketable Securities | 157,000 | 110,000 | |
| Inventory | 478,000 | 345,000 | 278,000 |
| Equipment (net) | 1,670,000 | 1,600,000 | |
| Liablities: | |||
| Accounts Payable | $ 755,000 | $ 640,000 | |
| Wages Payable | 132,000 | 120,000 | |
| Notes Payable (Long-Term) | 220,000 | 200,000 | |
| 20x5 | 20x4 | ||
| Net Sales | $ 2,100,000 | $ 2,500,000 | |
| Cost of Goods Sold | 1,470,000 | 1,750,000 | |
| Problem 12-6 - Ratios Summary | 20x5 | 20x4 | |
| Current Ratio | |||
| Acid-Test Ratio | |||
| Inventory Turnover Ratio | |||
| Days to Sell Average Inventory | |||
| Accounts Receivable Turnover | |||
| Average Collection Period for A/R |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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