use the following information given to compute for liquidity ratios Directions: Use the following information given by Aysid Wash and Wear Suppliesto compute for Liquidity Ratios.CashP 400,000SalesP 1,500,000Accounts Receivable500,000Cost of Goods Sold700,000Inventory550,000Gross Profit800,000Equipment850,000 Operating Expenses300,000Total AssetsP 2,300,000Operating income500,000Accounts PayableInterest Expense50,000Notes PayableP 600,000400,0001,800,000Net IncomeP 450,000Owner, CapitalTotal Liabilities and P 2,300,000equity

Ratio analysis is a tool that establishes a relationship between the different items. It is used to…

Directions: Use the following information given by Aysid Wash and Wear Suppl to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 700,000 Cost of Goods Sold Gross Profit Inventory 550,000 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable P 600,000 Interest Expense 50,000 Notes Payable 400,000 Net Income P 450,000 Owner, Capital 1,800,000 Total Liabilities and P 2,300,000 equity

Directions: Use the following information given by Aysid Wash and Wear Suppl to compute for Liquidity Ratios. Cash P 400,000 Sales P 1,500,000 Accounts Receivable 500,000 700,000 Cost of Goods Sold Gross Profit Inventory 550,000 800,000 Equipment 850,000 Operating Expenses 300,000 Total Assets P 2,300,000 Operating income 500,000 Accounts Payable P 600,000 Interest Expense 50,000 Notes Payable 400,000 Net Income P 450,000 Owner, Capital 1,800,000 Total Liabilities and P 2,300,000 equity

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12MCQ: Smoltz Company reported the following information for the current year: cost of goods sold,...

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