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Current Position Analysis The following items are reported on a company's balance sheet: Cash $334,100 Marketable securities 261,000 Accounts receivable (net) 312,900 Inventory 136,200 Accounts
Current Position Analysis
The following items are reported on a company's balance sheet:
Cash | $334,100 |
Marketable securities | 261,000 |
Accounts receivable (net) | 312,900 |
Inventory | 136,200 |
Accounts payable | 454,000 |
Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place.
a. Current ratio | |
b. Quick ratio |
Accounts Receivable Analysis
A company reports the following:
Sales | $1,931,580 |
Average accounts receivable (net) | 71,540 |
Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.
a. Accounts receivable turnover | |
b. Number of days' sales in receivables | days |
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