![jxeidy8284](/avatars/12376.jpg)
jxeidy8284
13.05.2021 •
Business
The following selected information is taken from the financial statements of Arnn Company for its most recent year of operations:
Beginning balances:
Inventory $200,000
Accounts receivable 300,000
Ending balances:
Inventory $250,000
Accounts receivable 400,000
Cash $100,000
Marketable securities (short-term) 200,000
Prepaid expenses 50,000
Accounts payable 175,000
Taxes payable 85,000
Wages payable 90,000
Short-term loans payable 50,000
During the year, Arnn had net sales of $2.45 million. The cost of goods sold was $1.3 million.
Required:
When required, round your answers to two decimal places. Assume 365 days per year.
1. Compute the current ratio.
2. Compute the quick or acid-test ratio.
3. Compute the accounts receivable turnover ratio.
times
4. Compute the accounts receivable turnover in days.
days
5. Compute the inventory turnover ratio.
times
6. Compute the inventory turnover in days.
days
Solved
Show answers
More tips
- H Health and Medicine Get Rid of Warts: Simple and Effective Ways...
- S Style and Beauty How to Choose the Perfect Hair Color?...
- C Computers and Internet Best iPad Games: Our Opinion...
- A Animals and plants Man s Best Friend: Which Dog Breed Is the Most Friendly?...
- H Health and Medicine 10 Simple Techniques on How to Boost Your Mood...
- G Goods and services How to Choose the Right High Chair for Your Baby?...
- S Style and Beauty Learn how to tie a keffiyeh on your head like a pro...
- S Style and Beauty How to braid friendship bracelets?...
Answers on questions: Business
- B Biology If galaxies contain 1 hundred billion stars and there are 1 hundred billion galaxies and 1 in 5 low mass stars like the sun have planets like Earth in the habitable zone and 89%...
- M Mathematics Find the distance between points (2,5) and (-2,2)...
- E English Good conclusions should: a. give readers more evidence. b. satisfy readers. c. entertain readers. d. make readers think....
- C Computers and Technology How do you know when energy is moving in a lightbulb circuit?...
- H History In what famous battle did the Rough Riders make their famous charge up a hill? Battle of Santiago Battle of Cuba Battle of Havana Battle of San Juan Hill Battle of Baltimore...
Ответ:
I just took the test for plato, the answers are 1250 and speed has a greater effect than mass