Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Selected comparative financial statement data for Roger Inc. are shown below. ROGER INC. Statement of Financial Position (partial) December 31 (in thousands) 2021 2020 2019

Selected comparative financial statement data for Roger Inc. are shown below. ROGER INC. Statement of Financial Position (partial) December 31 (in thousands) 2021 2020 2019 Current assets Cash $ 30 $ 91 $ 60 Trading investments 55 60 40 Accounts receivable, net 679 585 493 Inventory 633 522 579 Prepaid expenses 41 52 29 Total current assets Total current liabilities A A $ 1,438 $ 1,310 $ 1,201 887 $ 826 $ 744 Additional information: (in thousands) Allowance for doubtful accounts Credit sales Cost of goods sold 2021 2020 2019 $ 50 $ 45 $ 40 4,194 3,908 3,680 2,888 2,663 2,336 (a) Calculate all possible liquidity ratios for 2021 and 2020. (Round current ratio to 2 decimal places e.g. 2.66. Round receivables turnover and inventory turnover to 1 decimal place e.g. 6.2. Round collection period and days sales in inventory to O decimal places e.g. 1,266. Enter working capital amounts in thousands e.g. 525.) 2021 Working capital 551000 $ 2020 484000 Current ratio :1 :1 Receivables turnover 6.68 times times Collection period days days Inventory turnover times times Days sales in inventory days days eTextbook and Media Save for Later Last saved 19 hours ago. Saved work will be auto-submitted on the due date. Question Part Score Attempts: 0 of 3 used Submit Answer --16image text in transcribedimage text in transcribed

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

Step: 3

blur-text-image

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

Comparative International Accounting

Authors: Christopher Nobes, Robert Parker

14th Edition

1292296461, 978-1292296463

More Books

Students also viewed these Accounting questions

Question

3. Avoid making mistakes when reaching our goals

Answered: 1 week ago