Question
JKL Enterprises reports the following financial data: Cash: $80,000 Accounts payable: $50,000 Total equity: $300,000 Net income: $60,000 Total revenues: $500,000 Total expenses: $440,000 Calculate
JKL Enterprises reports the following financial data:
- Cash: $80,000
- Accounts payable: $50,000
- Total equity: $300,000
- Net income: $60,000
- Total revenues: $500,000
- Total expenses: $440,000
Calculate the following: a) Cash ratio b) Accounts receivable turnover c) Return on sales d) Operating cash flow ratio
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
7th Canadian edition
1119368456, 978-1119211587, 1119211581, 978-1119320623, 978-1119368458
