We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,880,000 188,000 890,000 811,000 a. Accounts receivable b. Marketable securities c. Fixed assets 1.35 times 2.30 times 40 % 5 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items. (Do not round intermediate calculations. Round your final answers to the nearest whole number.)
We are given the following information for the Pettit Corporation. Sales (credit) Cash Inventory Current liabilities Asset turnover Current ratio Debt-to-assets ratio Receivables turnover $2,880,000 188,000 890,000 811,000 a. Accounts receivable b. Marketable securities c. Fixed assets 1.35 times 2.30 times 40 % 5 times Current assets are composed of cash, marketable securities, accounts receivable, and inventory. Calculate the following balance sheet items. (Do not round intermediate calculations. Round your final answers to the nearest whole number.)
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter13: Marketable Securities And Derivatives
Section: Chapter Questions
Problem 27P
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