College Accounting, Chapters 1-27
Solutions
College Accounting, Chapters 1-27
Using the financial statements for Herman’s Parts provided on page 593, compute the following ratios:
- (a) Working capital
- (b) Current ratio
- (c) Return on owner’s equity
- (d) Inventory turnover
(a)
Compute working capital for H’s Parts.
Working capital: The measure which evaluates the ability of a company to pay off short-term debt obligations, by computing the excess of current assets over current liabilities is referred to as working capital.
Compute working capital for H’s Parts.
(b)
Compute e current ratio for H’s Parts.
(c)
Compute return on owners’ equity for H’s Parts.
(d)
Compute inventory turnover for H’s Parts.
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