Chapter 17 Alternate Assignment Problem 1: Current Position Analysis The following data were taken from the...

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Chapter 17 Alternate Assignment Problem 1: Current Position Analysis The following data were taken from the balance sheet of Mossberg Company: Dec 31, 2014 $700,000 Cash Marketable securities 800,000 920,000 Accounts and notes receivable (net) Inventories 600,000 Prepaid expense 500,000 Total current assets 3,520,000 800,000 Accounts and notes payable (short-term) Accrued liabilities 300,000 Total current liabilities 1,100,000 Determine the following for 2014 rounding to one decimal place: 1. Working Capital 2. Current Ratio 3. Quick Ratio Dec 31, 2013 $600,000 620,000 780,000 500,000 500,000 3,000,000 750,000 250,000 1,000,000 Problem 2: Accounts Receivable Analysis The following data are taken from the financial statements of Krawcheck Inc. Terms of all sales are 2/10, n/55. 2014 2013 Accounts Receivable, end of year Net sales on account $500,000 $475,000 3,412,500 2,836,500 Determine the following for 2014 rounding to one decimal place: 1. Accounts Receivable Turnover 2. Number of days' sales in receivables Chapter 17 Alternate Assignment Problem 1: Current Position Analysis The following data were taken from the balance sheet of Mossberg Company: Dec 31, 2014 $700,000 Cash Marketable securities 800,000 920,000 Accounts and notes receivable (net) Inventories 600,000 Prepaid expense 500,000 Total current assets 3,520,000 800,000 Accounts and notes payable (short-term) Accrued liabilities 300,000 Total current liabilities 1,100,000 Determine the following for 2014 rounding to one decimal place: 1. Working Capital 2. Current Ratio 3. Quick Ratio Dec 31, 2013 $600,000 620,000 780,000 500,000 500,000 3,000,000 750,000 250,000 1,000,000 Problem 2: Accounts Receivable Analysis The following data are taken from the financial statements of Krawcheck Inc. Terms of all sales are 2/10, n/55. 2014 2013 Accounts Receivable, end of year Net sales on account $500,000 $475,000 3,412,500 2,836,500 Determine the following for 2014 rounding to one decimal place: 1. Accounts Receivable Turnover 2. Number of days' sales in receivables

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1 Working capital Current asset Current liabilities 3520000 1100... View the full answer