Vision Electronics, which makes DVD players, reported the following items at February 28, 2014 (amounts in thousands,
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Vision Electronics, which makes DVD players, reported the following items at February 28, 2014 (amounts in thousands, with last year's-2013-amounts also given as needed):
Compute for 2014 Vision Electronics'
(a) Acid-test ratio,
(b) Days' sales in average receivables,
(c) Current ratio,
(d) Debt ratio,
(e) Gross margin percent,
(f) Inventory turnover. Evaluate each ratio value as strong or weak. Assume Vision Electronics sells on terms of net 30.
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Related Book For
Accounting Volume 1
ISBN: 978-0132690096
9th Canadian edition
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
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