Question

Use the information provided to determine the values for the missing information (indicated by shaded boxes):
Current assets on December 31, 2017? $ _____
Current liabilities on December 31, 2017? $1,325,000
Current ratio on December 31, 2017? 1.15
Quick assets on December 31, 2017? $850,000
Quick ratio on December 31, 2017? _____
Accounts receivable on December 31, 2017? $ ______
Accounts receivable on December 31, 2016? $207,000
Revenues (all on credit) during 2017? $2,750,000
Accounts receivable turnover ratio for 2017? _______
Average collection period of accounts receivable for 2017? 32 days



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  • CreatedFebruary 26, 2015
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