Selected financial information is available at July 31 for Drew Co. (a) Calculate (1) working capital, (2)

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Selected financial information is available at July 31 for Drew Co.

(a) Calculate (1) working capital, (2) the current ratio, and (3) the acid-test ratio for 2016 and 2017.
(b) Indicate whether there was an improvement or deterioration in liquidity for Drew in 2017.

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Accounting Principles

ISBN: 978-1119048503

7th Canadian Edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: May 16, 2017 10:04 AM

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Selected financial information is available at July 31 for Drew Co. (a) Calculate (1) working capital, (2)

Question:

2016 $22,680 $20430 33,510 24,800 2017 Cash and accounts receivable Current assets Current liabilities 35,100 24,460

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a 1 Working capital Current assets Current liabilitie...View the full answer

Accounting Principles

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