14. During fiscal 2020, Company ABC had sales of $40,000, Cost of merchandise sold of $19,000,...
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14. During fiscal 2020, Company ABC had sales of $40,000, Cost of merchandise sold of $19,000, and gross profit of $21,000. What was the company's net income for 2020? 15. In its December 31, 2021 financial statements, Company ABC reported the following: Total Long-term Assets Liabilities $10,000 $8,500 Current Long-term Liabilities Liabilities $2,500 $ 6,000 At December 31, 2021, current assets amount to? 16. The fiscal 2021 balance sheet for Company ABC reports the following data: Cash and cash equivalents Accounts receivable $290 $188 What is the company's quick ratio? Merchandise inventories $414 Current assets $1,980 Equity $5,400 Current liabilities $1,088 14. During fiscal 2020, Company ABC had sales of $40,000, Cost of merchandise sold of $19,000, and gross profit of $21,000. What was the company's net income for 2020? 15. In its December 31, 2021 financial statements, Company ABC reported the following: Total Long-term Assets Liabilities $10,000 $8,500 Current Long-term Liabilities Liabilities $2,500 $ 6,000 At December 31, 2021, current assets amount to? 16. The fiscal 2021 balance sheet for Company ABC reports the following data: Cash and cash equivalents Accounts receivable $290 $188 What is the company's quick ratio? Merchandise inventories $414 Current assets $1,980 Equity $5,400 Current liabilities $1,088
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Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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