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need help with this one...not understanding it..i need to see all work so i can see how you arrived at your answer.. Shown below are
need help with this one...not understanding it..i need to see all work so i can see how you arrived at your answer..
Shown below are selected financial data for Another World and Imports, Inc., at the end of the year: Another World Net credit sales Cost of goods sold Cash Accounts receivable (net) Inventory Current liabilities $ Imports, Inc. 675,000 $ 560,000 504,000 480,000 51,000 20,000 75,000 70,000 84,000 160,000 105,000 100,000 Assume that the year-end balances shown for accounts receivable and for inventory appr average balances of these items throughout the year. 1 For each of the two companies, compute the working capital. (Omit the "$" sign in your re . Working capital Another World $ Imports,Inc. $ 2 For each of the two companies, compute the current ratio. (Round your answers to . place.) Another World Current ratio Imports,Inc. to to 3 For each of the two companies, compute the quick ratio. (Round your answers to 1 decim . Another World Quick ratio Imports,Inc. to to 4 For each of the two companies, compute the number of times inventory turned over duri . and the average number of days required to turn over inventory. (Round your answers nearest whole number. Use 365 days a year.) Another World Number of times inventory turned over during the year Average number of days required to turn over inventory Import times days 5 For each of the two companies, compute the number of times accounts receivable turned . the year and the average number of days required to collect accounts receivable. (R answers up to the nearest whole number. Use 365 days a year.) Another World Number of times accounts receivable turned over Average number of days required to collect accounts receivable Imp times days 6 For each of the two companies, compute the operating cycle. (Answers obtained in ques . 5 should be used to answer question 6. Round your answers up to the nearest whole Operating cycle Another World days Imports,Inc. daysStep by Step Solution
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