Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Receivable days are 3 0 . Credit sales in year $ 3 0 , 0 0 0 Payables are $ 4 , 0 0 0

Receivable days are 30.
Credit sales in year $30,000
Payables are $4,000
Inventory is $3,000
And there is a bank overdraft of $2,000 and a 10% long term loan of $4,000
What is the current ratio?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Estimating Economic Models

Authors: Atsushi Maki

1st Edition

0415589878, 978-0415589871

More Books

Students also viewed these Finance questions

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago