Selected financial information is available at July 31 for Drew Co. a. Calculate (1) working capital, (2)
Question:
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 2020 and 2021.
b. Indicate whether there was an improvement or deterioration in liquidity for Drew in 2021.
Transcribed Image Text:
2021 Cash and accounts receivable Current assets Current liabilities $22,680 35,100 24,460 2020 $20,430 33,510 24,800
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Related Book For
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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