Question
JKL Enterprises reports the following financial data: Cash: $180,000 Accounts payable: $100,000 Total equity: $900,000 Net income: $250,000 Total revenues: $1,200,000 Total expenses: $950,000 Calculate:
JKL Enterprises reports the following financial data:
- Cash: $180,000
- Accounts payable: $100,000
- Total equity: $900,000
- Net income: $250,000
- Total revenues: $1,200,000
- Total expenses: $950,000
Calculate: a) Cash ratio b) Accounts receivable turnover c) Return on sales d) Operating cash flow ratio
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Survey of Accounting
Authors: Thomas Edmonds, Christopher Edmonds, Philip Olds, Frances McNair, Bor Yi Tsay
5th edition
1259631125, 978-1259631122
