Question
Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use
Construct the current assets section of the balance sheet from the following data. (Use cash as a plug figure after computing the other values.) (Use a 360-day year. Do not round intermediate calculations.)
| Yearly sales (credit) | $ | 986,000 | ||
| Inventory turnover | 17 | times | ||
| Current liabilities | $ | 92,000 | ||
| Current ratio | 2 | |||
| Average collection period | 36 | days | ||
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Inflation Growth And International Finance
Authors: Alec Cairncross
1st Edition
113865308X, 978-1138653085
