Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Selected financial statement for Windsor company are presented below. December 31, 2020 December 31, 2019 Cash $40,400 $32,700 Short-term investments 20,300 18,400 Receivables (net) 113,375
Selected financial statement for Windsor company are presented below.
December 31, 2020 December 31, 2019
Cash $40,400 $32,700
Short-term investments 20,300 18,400
Receivables (net) 113,375 92,500
Inventory 78,070 67,500
Total current liabilities 105,500 91,500.
During 2020, net sales were $1,441,125, and cost of good sold was $1,091,775.
Selected financial statement data for Windsor Company are presented below. During 2020 , net sales were $1,441,125, and cost of goods sold was $1,091,775. Compute the current ratio at December 31, 2020. (Ru unswer to 2 cimai places, e.g. 15.25.) Current ratio :1 Compute the acid-test ratio at December 31, 2020. (Round answer to 2 decimal places, eg. 15.25.) Acid-test ratio :1 Compute the accounts receivable turnover at December 31, 2020. (Round answer to Odecimal places, e.g. 15.) Accounts receivable turnover times Compute the inventory turnover at December 31, 2020. (Round answer to O decimal places, eg. 15.) Inventory turnover times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started