Compute the following ratios for the current year with the date in the image: a. Current Ratio

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Compute the following ratios for the current year with the date in the image:

a. Current Ratio
b. Cash Ratio
c. Acid-test Ratio
d. Inventory turnover
e. Days' sales in inventory
f. Days' sales in receivables
g. Gross profit percentage

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Fundamental Managerial Accounting Concepts

ISBN: 978-0078025655

7th edition

Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old

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Question Posted: Jan 27, 2017 10:27 AM

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Compute the following ratios for the current year with the date in the image: a. Current Ratio

Question:

Owner's Equity Paid-in Capital Retained Earnings Total Liabilities & Equity $520,000 $592,631 $687,496 $736,382 $804,341$892,378 52,000 52,000 52,000 52,000 52,000 52,000 0 33,19489,709 167,223 266,996 390,365

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Statement showing computations Particulars Amount Current Assets 17200000 Curre...View the full answer

Fundamental Managerial Accounting Concepts

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