Question

Vision Equipment reported the following items on February 28, 2013:
Accounts Payable ..... $ 449
Cash .......... 215
Inventory:
February 28, 2013 ..... 190
February 28, 2012 ..... 160
Net Credit Sales ..... 1,930
Long-term Assets ..... 410
Long-term Liabilities ..... 10
Accounts Receivable, Net:
February 28, 2013 ..... $ 220
February 28, 2012 ..... 150
Cost of Goods Sold ..... 1,200
Short-term Investments ..... 165
Other Current Assets ..... 90
Other Current Liabilities .... 145
Requirements:
1. Compute Vision Equipment’s (a) quick ratio and (b) accounts receivable turnover for 2013.
2. Evaluate each ratio value as strong or weak. Assume Vision Equipment sells on terms of net 30. 


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  • CreatedJuly 08, 2015
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