Tri-State Equipment reported the following items on July 31, 2016 (last year's amounts also given as needed):
Question:
Tri-State Equipment reported the following items on July 31, 2016 (last year's amounts also given as needed):
Requirements
1. Compute Tri-State Equipment’s (a) quick ratio, (b) current ratio, and (c) accounts receivable turnover for 2016.
2. Evaluate each ratio value as strong or weak. Assume Tri-State Equipment sells on terms of net 30?
Transcribed Image Text:
Accounts Payable. . Accounts Receivable, Net: $45,000 21,500 July 31, 2016 . July 31, 2015 Cost of Goods Sold.. Short-term Investments. Other Current ASsets.. Other Current Liabilities 28,000 Cash.. Inventory: 31, 2016 . July 31, 2015. Net Credit Sales Long-term Assets Long-term Liabilities . 16,000 112,000 16,000 15,000 14,000 277,700 10,000 14,500 43,000 4,000
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Req 1 Req 2 a A quick ratio of 110 is strong because there is 110 of quick assets for every 1 of cur...View the full answer
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SAYED ABUL HOSSAIN
During my undergraduate study at I was intrigued by the courses related to mechanics, which made me concentrate on the field of structural engineering, and later I decided to pursue M.Tech in structural engineering specialization. This experience, coupled with my projects, internship, and a research assistantship, intensified my rudimentary understanding in this field and convinced me to pursue a career in research. My research interests are focused primarily in the field of Structural Health Monitoring, System Identification, Numerical Modeling and Finite Element Analysis, Reliability of Structures and Structural dynamics.
After M.Tech, I have been joined as an assistant professor in a private engineering college about one and half year during that period I have taking classes on solid mechanics, reinforced cement concrete as well as labs. I am continuing my research and I have been awarded one time best paper award in an International conference title as “Damage detection of thin plate like structure using static and modal parameters” and one time excellent paper award in an International conference title as “Reliability Evaluation of linear transmission line tower structure for random wind loading under parameter uncertainty” and also published three reputed journal papers.
I wanted to further explore the field of Structural Health Monitoring, so I joined as a Research Scholar at the Department of Ocean Engineering & Naval Architecture, IIT Kharagpur. I am currently working on Intelligent IoT enabled Autonomous Structural Health Monitoring System for Ships, Aeroplanes, Trains and Automobiles (IMPRINT-2).
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