Question

Southside Clothiers reported the following selected items at September 30, 2014 (last year’s—2013—amounts also given as needed):


Compute Southside’s
(a) Acid-test ratio,
(b) Accounts receivable turnover ratio,
(c) Days’ sales in receivables for 2014.
Evaluate each ratio value as strong or weak. Southside sells on terms of net 30. (Round days’ sales in receivables to a wholenumber.)


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  • CreatedJanuary 16, 2015
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