Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I need help with 3(filling the blanks), 8, 9, and 11. Thank you so much. 8.Given the following information, compute the current and quick ratios:
I need help with 3(filling the blanks), 8, 9, and 11.
Thank you so much.
8.Given the following information, compute the current and quick ratios: 9. If a firm has sales of $25,689,000 a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be if the firm is comparable to the industry? A firm with sales of $500,000 has average inventory of $200,000. The industry average for inventory turnover is four times a year. What would be the reduction in inventory if this firm were to achieve a turnover comparable to the industry average? 8.Given the following information, compute the current and quick ratios: 9. If a firm has sales of $25,689,000 a year, and the average collection period for the industry is 45 days, what should this firm's accounts receivable be if the firm is comparable to the industry? A firm with sales of $500,000 has average inventory of $200,000. The industry average for inventory turnover is four times a year. What would be the reduction in inventory if this firm were to achieve a turnover comparable to the industry average
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