The current asset of Bulldogs Inc. comprises only of cash, accounts receivables, and inventory. The firm has a current ratio of 2, and a quick ratio of 1.8. The total liabilities of the company are P40,000 on which 50% is current. How much is the cash of Bulldogs Inc. if the accounts receivable balance shows a balance of P56,000?

Q: Direct Furnishings Inc. has the following data:Annual sales                      $10,000,000Cost of…

A: INFORMATION:  Annual sales               =         10,000,000Cost of goods sold    =…

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A:

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A: current ratio =current assetcurrent liabilities DSO=365×ACCOUNT RECEIVABLESALES

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A:

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