Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The Brickyard Co posted the following figures for their current accounts: Beginning Ending Cash $ 160 $ 333 Accounts receivable 1975 3710 Inventory 405
The Brickyard Co posted the following figures for their current accounts: Beginning Ending Cash $ 160 $ 333 Accounts receivable 1975 3710 Inventory 405 2887 Current assets Accounts Receivable Inventory S Payables $ Accruals $ $2540 Total S Accounts payable Accruals $6930 Current liabilities Beginning Ending $723 $2013 238 453 1. Write the answers to the following which would indicate the CHANGE in the Current accounts over the beginning and ending period. A minus sign will indicate any decreases in cash or outflows. No $ signs, add commas $961 $2466 If you knew that the business revenues had increased by 8% last year, given your answer to the Change in Current Account, would you be concerned? Hint: Look at the percent increase in A/R and inventory figures and compare to the percentage increase in revenues. Answer Yes or No The reason for this that the percent increase in receivables and inventory figures is the same) as the percentage increase in revenue. (write in the word: higher, lower,
Step by Step Solution
★★★★★
3.45 Rating (148 Votes )
There are 3 Steps involved in it
Step: 1
Changes Ending figure begining figure Accounts receivable Inventory Payables Accruals ...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