Selected comparative information (in thousands) is available for Halpenny Corporation. Halpenny wishes to calculate ratios for 2024

Question:

Selected comparative information (in thousands) is available for Halpenny Corporation.

Halpenny wishes to calculate ratios for 2024 and 2023.

(a) Calculate the average amounts to be used for accounts receivable, total assets, and total shareholders’ equity in a ratio calculation in (1) 2024 and (2) 2023.

(b) Identify for which ratio each of the above average amounts would be used.

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Accounting Principles Volume 2

ISBN: 9781119786634

9th Canadian Edition

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

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Question Posted: Jan 30, 2023 05:35 AM

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Selected comparative information (in thousands) is available for Halpenny Corporation. Halpenny wishes to calculate ratios for 2024

Question:

Accounts receivable Total assets Total shareholders' equity 2024 $ 1,090 27,510 12,830 2023 $ 965 26,760 12,575 2022 $ 880 23,815 10,930

Step by Step Answer:

a b The averages calculated in part a could be used in the following ratios Receivables turnover Ass...View the full answer

Accounting Principles Volume 2

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