Business, 18.08.2020 19:01, crystal271
Assume that the current ratio for Arch Company is 3.0, its acid-test ratio is 1.5, and its working capital is $310,000.
Answer each of the following questions independently, always referring to the original information.
a) How much does the firm have in current liabilities?
b) If the only current assets shown on the balance sheet for Arch Company are Cash, Accounts Receivable, and Merchandise Inventory, then how much does the firm have in Merchandise Inventory?
c) If the firm collects an account receivable of $108,000, then what will its new current ratio and working capital be?
d) If the firm pays an account payable of $57,000, then what will its new current ratio and working capital be?
e) If the firm sells inventory that was purchased for $50,000 at a cash price of $65,000, then what will its new acid-test ratio be?
Answers: 1
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Business, 22.06.2019 06:30, silas99
Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2
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Business, 22.06.2019 15:30, thall5026
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Answers: 3
Assume that the current ratio for Arch Company is 3.0, its acid-test ratio is 1.5, and its working c...
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