Given the following: Current Assets $ 18,000 Accounts Receivable $ 3,000 Current Liabilities $ 16,000 Inventory $ 2,000 Net Sales $ 41,000 Total Assets $ 29,000 Net Income $ 6,000 Find the following (round to the nearest hundredth if needed): Current Ratio? Acid test quick ratio? Average days collection ? Asset turover ? Profit Margin on net sales?
Given the following: Current Assets $ 18,000 Accounts Receivable $ 3,000 Current Liabilities $ 16,000 Inventory $ 2,000 Net Sales $ 41,000 Total Assets $ 29,000 Net Income $ 6,000 Find the following (round to the nearest hundredth if needed): Current Ratio? Acid test quick ratio? Average days collection ? Asset turover ? Profit Margin on net sales?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 6MCQ
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Given the following:
Current Assets | $ | 18,000 | |
$ | 3,000 | ||
Current Liabilities | $ | 16,000 | |
Inventory | $ | 2,000 | |
Net Sales | $ | 41,000 | |
Total Assets | $ | 29,000 | |
Net Income | $ | 6,000 | |
Find the following (round to the nearest hundredth if needed):
Acid test quick ratio?
Average days collection ?
Asset turover ?
Profit Margin on net sales?
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