A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food inventory turnover ratio is 16, and its average collection period is 45 days. Assume a year has 360 days. Given: Cash $150,000 Accrued expenses $100,000 Compute: 1. account receivable 2. food inventory 3. total current assets
A Club has food sales of $4,000,000 and a food cost of 40%. The club's current ratio is 2, its food inventory turnover ratio is 16, and its average collection period is 45 days. Assume a year has 360 days. Given: Cash $150,000 Accrued expenses $100,000 Compute: 1. account receivable 2. food inventory 3. total current assets
Chapter2: Analysis Of Financial Statements
Section: Chapter Questions
Problem 12PROB
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A Club has food sales of $4,000,000 and a food cost of 40%. The club's
Given:
Cash $150,000
Accrued expenses $100,000
Compute: 1.
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